Euro exchange rates

Chart 3 - Correlation of

The Euro has clawed back some of its recent losses over the last couple of days in anticipation of Euro zone leaders meeting tomorrow in Brussels for an informal summit dinner to discuss a potential growth pact for the Euro zone. They are also supposed to be finding a solution to a looming Greek default which many believe threatens the future of the Euro zone.

I for one feel that this is becoming just another stage show. It seems to me that until European politicians stop arguing between themselves they will never find a resolution to this catastrophic mess. Unfortunately if you need to sell Euros you will find that your currency continues to depreciate unless you act swiftly. Contact me to find out how we can minimise your risk to currency fluctuations at bma@currencies.co.uk

No matter where you are in the Euro zone have a thought though for the expats in Greece. It is thought that if a resolution is not met soon and the election favours the anti austerity there will be no other solution but for Greece to leave the Euro and the likelihood is, that their wealth will be halved in value through depreciation in their funds.

My recommendation would be that if you have Euros sitting in a bank account in Greece for safety reasons convert them back to sterling and bring then back to the UK. When things settle down you can then look at moving them back to either the Euro or Drachma depending on how events unfold.

Source: Euro Rate Forecast

CreateSpace EUROS' EXCHANGE RATES PREDICTIONS TO YEAR 2100, Volume 6: U.S.A. Monetary Policy Decomposition-al and Unemployment Spillover Affects
Book (CreateSpace)

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European interest rates are high.

2008-07-16 08:09:21 by -

You may not understand this, but I will give it a shot:
Oil is priced in dollars. This means that if you have Euros and want to pay for oil, you first convert the Euros to US Dollars, then pay for the oil by the barrel.
So, when the price of oil rises, it makes sense for the Europeans to prop up their currency in relation to the US Dollar.
In other words, if the price of a barrel of oil rises 100% yet at the same time the dollar falls by 50%, your price of oil remains unchanged.
This is an inverse relationship between the dollar and oil.
The Bundesbank will do whatever it needs to do to prop up the Euro.
Unfortunately, the Europeans cannot keep it up long term.
China (if you didn't know) is a Communist country. China artificially controls its...

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2003-12-10 14:26:19 by commartjso

I don't want to get in trouble here by being flip, but among stimulus measures, new (low cost) and refinanced (lower cost) mortgages would seem to fall into the same league as tax cuts by returning some spending money to middle-class workers. However, some "other variables" may have dulled the impact: e.g., inflation in home prices may have created "house poor" spenders as well as a few extra loose ones; no one really knows where the saved money goes (it could be reinvested as well as spent) but when the volume returned is low, it's more likely to turn up in petite retail than more dollar demanding areas of transformation; and because of the disparity between rental rates and the many costs of home ownership, we may be running out of population in position to move up to ownership.
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2004-01-04 13:45:02 by lookslikeit

There are too many doomsday predictors on this site. I want people to consider the following.
If tomorrow, the entire automotive industry disappeared, what would happen.
I am going to pretend for this example, that 20,000,000 people work in the industry. (Not sure of the actual number, probably closer to 1,000,000).
The first effect is that those 20,000,000 would be forced to take low paying jobs. So, they won't be buying any new cars in the near future. The automotive market just shrank a great deal.
Effect 2: Everyone wanting to buy a car actually must do so from an overseas manufacturer. Billions of dollars flood the world market driving down the value of the dollar.
Foreign governments react, buying US dollars back from the companies in their country...

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Naturally, a cheapened Euro would mean lower Euro exchange rates. Standard Bank just cut their long-running forecast of $1.20, but only down to $1.15. Because even with El Tro Part 3 or QE the First, the Esperanto is unlikely to tumble. How come?

The cost of a Greek euro exit? 225 bn EUR say UBS - euro exchange rates today  — Economy News
Euro rate today: The euro (Currency:EUR) continues to hold its value despite the continued negativity concerning Greece. The euro dollar exchange rate is unchanged on Friday's close at 1.2777. The euro pound exchange rate is 0.15 pct lower at 0.8068.

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Exchange rate boost for border towns  — Irish Examiner
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