Neither have I and I'm not happy.

Anyone follow such things and like to hazard a guess as to what's likely to happen next?

Could be the precursor of the UK having the euro as its currency instead of sterling.

Well 9½ weeks until I'm buying my euros (or "yo-yo's" as I like to call them) for Tenerife. Let's hope this is just a temporary dip. As far as I remember, I think I got 1.43 last summer. Ah well, I've got about 50€ leftover from my last holiday, and we're going all-inc so I won't need too much spends

Given the fact that Interbrava stopped their coach holidays to Spain, i was already doubting whether i'd be going abroad or not this year, but given the state of the exchange, i think i will just stay at home and enjoy time down at the caravan instead

To 'yo-yo's'

Thank goodness I had my euro holiday last year to the Algarve, which I must say with the exchange rate of 1.4 something, plus the fact that the Algarve is the best value destination in the Eurozone felt like a very good deal.

Turkey this year but going full board plus, thank goodness as I guess the weak pound affects all currencys.

Trouble is I still have about 400 Euro travellers cheques that I forget to change back. They will only change them to stering, does that mean I will lose out? Is it best to hang on to them then for the future?

Do you will proberbly be able to cash them in in the banks in turkey, when we popped over for the day last summer they would take sterling/euro/dollars & ntl if you change them back to sterling you will loose a fair bit

wiz

Thanks Wizard. I hadn't thought of that and it's a brilliant idea. Infact I think the place I am going Lykia World might actually take them to settle my bill at the end of the holiday. Im feeling all pleased now.

doepsmc,

I had this issue a few years back when i had Euro travellers cheques when i was in Italy, but the following year i was going to Spain and i knew that Sterling would be better. As i bought them from Thomas Cook with the guaranteed buy-back, i went to cash them in and was in the same situation ... i stood to gain from them.

The girl at the desk looked and told me that she wasn't sure she could do this as i'd be gaining from the transaction, but after telling her that it wouldn't have been a problem the other way around and asking for the manager, she changed her mind!

Hi Cider

I felt a bit of a burke really. I went back to M&S stupidly thinking they would change them in to Euro currency that I could give to my daughter for her school ski trip to France or Italy (forgotten which ) in March. But of course they would only give me sterling, this was back in Sept/Oct when the rate wasn't so dire, but I kept hold of them.

I then remember that I had read on here not to get Euro travellers cheques as they were rarely a good deal. It's in the section at the top of this forum that David the Mod put up ages ago.

Well done you for standing your ground.

I am glad I have booked A/I to turkey this year. I have always believed the euro was overvalued and not its a certainty. For places like germany it wasn't over valued but for places like greece, italy and spain it is well overvalued. I would think the lowest the £ will could go is around 1.10 euro but I think 1.20 euro will be a resistance/support level but if the 1.20 is broken then 1.10 to the £ is likely. I am looking at this from a traders point of view on currencies movement. If the £ did drop to near 1.10 euro then sub 2 tla to the £ is likely as well. The £ is more closely link to the US dollar and the dollar moves against the euro so does the pound.

There could be a bounce back in the £ when traders have to buy £'s sell euro's but I think traders will hold their positions for now and the bears will win for now. House prices have dropped again this month and with people cashing in on the value of their property to fund their lifestyle when they can't anymore the UK economy will be hurt and with the US in recession the UK could follow then the £ will weaken further against the euro.

Its fantastic for me (sorry) off to mexico in a fortnight and the euro is highest against the $ @ 1.49 and stopping in the UK for a week either side! more bang for my buck!! However it is going to make it so much more expensive this year fo people coming overseas to the Eurozone. PS still getting about 1.35 in the exchange shops.

Could be the precursor of the UK having the euro as its currency instead of sterling.

Please no!

please yes! Everybody's life will be much simpler.

A big yes from me too ... maybe then i won't have the embarrassing problem that i have trying to spend my notes in THE UNITED KINGDOM, let along changing them abroad!!

Could be the precursor of the UK having the euro as its currency instead of sterling.

I doubt it, that door has been shut in Frankfurt.
I read somewhere that the European Central Bank have stated that Britain is now ineligible for Euro entry due to its high government deficit and trade deficit of £8 billion in September of last year.

It's not the Euro falling, the Euro is at its strongest because the Pound Sterling is weak and the Dollar.....It's all America's fault.
The Euro is a floating currency that's not tied to commodities like oil and gold, the European Central Bank controls the Euro and its principle aim is to keep inflation around 2%.

I'm not going to try and pretend that I have any intelligence where the financial markets are concerned, but the dollar controls the worlds other currencies and the American banks are up the creek without a paddle, the worlds biggest bank (City Group) announced the other day that they had lost billions...the dollar is collapsing, which means the pound will fall and this will make the Euro strong.

If you think this is far fetched"¦.during the Second World War, America ran out of money and the people had to sell their "war bonds""¦America wanted the oil from the Middle East and the Arabs didn't trust the dollar, so they said they'll supply the oil, but it had to be paid for in Gold Bullion"¦.Gold is the only world currency and that is at an all time high at the moment"¦America is heading in the same direction today, fighting wars that they can't afford to finance.

At the moment, its good for export as traders have to hand over less Euros for the goods, but not so good for people exchanging currencies... remember, what goes up, can always come down and if I could forecast which way it was going to go, then I wouldn't be sat typing this post, I'd be on some exotic beach with my yacht moored in the harbour, but I do think with the state of the dollar and America living beyond its means, then we are in for a bumpy ride for the foreseeable future.

As far as the UK having the Euro as its currency"¦.no thankyou, I'd prefer the Bank of England to keep control of our economy and ask any Spaniard what the euro has done for them, it has increased prices whilst their wages have been suppressed and anyone like myself who was around when Britain changed over to Decimalisation will also tell you that, that did the same.

Sanjiiiiiiiiiiiiiiiii

Bank of England or Central European bank? Despite the BofE's Scottish roots, as far as i'm concerned, they are both foreign banks!! (and until the Scottish government have a place on the committee at the BofE, i will continue to think that way!)

At least with the Euro, and the principle aim to keep inflation low, with the CEB we might actually have an institution that doesn't go around messing around with interest rates to cool down the SE of England at the expense of the northern manufacturing!!!!!!

Well the quicker you get independance, the better.
At least I won't be subsidising you anymore and you can have Gordon Broon and his other cronnies back to run your economy.
I'll even pay his train fare in Euros if it makes it quicker.
I'm saying no more on the subject as I was trying to explain why the Euro is high at the moment....you want to get political.

Sanjiiiiiiiiiiiiii

Oooh, the old 'Scottish subsidy' number ... couldn't you find something original?

Do your research and you will find out there are many areas taking much more than you seem to think Scotland gets. You got political when you mumped about not wanting the euro, so don't start yer crap on me!

Independence? Yes please, means i don't have to subsidise your stupid olympics!