I think next years summer holidays for my self in europe, is not going to happen, for one thing I can see the package holidays getting very expensive, and with the euro at 1.0795, things dont look good
Depends what resort I go to in Italy, I usualy pay between £600-£1000 for two weeks half board, so I recon on the travel companies adding an extra £200-£400 on to my holiday. This is something I could not afford, so looks like I might just have a holiday break in London
Previous currency I have had £1500 has got me just over 2000 euros, I suspect to get the same amount in euros next year I would have to change £2300, which would give me 2000 euros at a rate of 0.89. Unless the euro picks up in june/july I dont see it improving, so that might mean when it comes to the autum, it falls further
All of this amounts toan extra £1000+ for 2010, so based on this how badly afefcted will the travel agent be when it comes to the selling package holidays for euro, and how many of them will drop contracts with hotel, all based on the price of the pound against the euro, and probably they will sell more holidays to places like usa, austriala ect
Hi, I really think that looking so far ahead to summer 2010 is far to soon to speculate on the state of the euro !! Blimey, who knows whats happening this summer yet, its so up and down ! Although someone said today that we'll see the pound strengtthening today, so its early days really.
I predict a 20% to 30% increase in holiday price's for next year and italy has got to be one of the dearest destinations in the med. I am expecting the pound to recover by next year once interest rates start rising again, pounds very under valued against the euro at the moment and a fair price would be 1.30 to 1.35 euro's to the pound.
i was told by a money market man back in Jan that the euro was 40% over valued and should fall heavily this year, its gained around 10% so far and long may it continue, as for holiday prices my personal feeling is more flights will get cut for next year to force an increase in prices similar to this year
Brian
by the way post office today has best local rate at 1.1026
Brian
by the way post office today has best local rate at 1.1026
On the money markets today the euro went to 1.137 but fell back with stock markets to 1.12, a lot of profit taking by traders because the £ has had a good run, next week it could continue and a crucial resistance level will be 1.15 and 1.10 should be a support level. Never traded currency maybe I should but its very risky with a 50 to 1 leverage loss's and profits can happen very quickly. A drop of 170 pips today from its high is not for the faint hearted.
You've got your calc slightly wrong there I think. Based on an exchange rate of 1.0795 euros to the pound, you will ned to change £1852.71 to get 2000 euros, not £2300. Still rubbish when we think of what it was, but not as bad as you were thinking. I can't understand where the euro's resiliance is coming from, none of the economies in the euro are strong, and they've announced Quantitative Easing today, however the pound got battered again?!!!
carolineb23 wrote:You've got your calc slightly wrong there I think. Based on an exchange rate of 1.0795 euros to the pound, you will ned to change £1852.71 to get 2000 euros, not £2300. Still rubbish when we think of what it was, but not as bad as you were thinking. I can't understand where the euro's resiliance is coming from, none of the economies in the euro are strong, and they've announced Quantitative Easing today, however the pound got battered again?!!!
Calc are right as can be, you have got the wrong year, looking at what the euro might be in July 2010, not this summer 2009
And if you add in the price of holidays and what you would have to buy in currency for summmer 2010, it could well been expensive holiday, even if I wait until June 2010, to make a last minute booking does not suit me. Working in the retail industry, Asda holidays are on a first come basis, and 3 colleagues allowed of at one time, and most dates are taken by March/April
carolineb23
Its all to do with interest rates, the eurozone rates are high compared to ours, the turkish lira is very over valued but they have sky high interest rates and its attracting money because the currency has been stable but everything corrects itself in the end. The pound will become attractive again. If the conservatives win the next election watch sterling fly, it will give confidence and the money men will like it.
Its all to do with interest rates, the eurozone rates are high compared to ours, the turkish lira is very over valued but they have sky high interest rates and its attracting money because the currency has been stable but everything corrects itself in the end. The pound will become attractive again. If the conservatives win the next election watch sterling fly, it will give confidence and the money men will like it.
But what makes you think that £1 will only get us €0.89 by next summer 
At least no-one can book if the brochures aren't out, so everyone will be in the same boat regarding booking for 2010, you might not find the dates are gone if no-one can book anything. At least thats something.
Yeah, why do you think it'll only be 0.89 next summer? How can you get to that? No-one knows what it'll be! It's like me saying 'I'll book for next year because the pound has to get better' Thing is, I don't know! I've a feeling the euro is about to take a bit of a tumble!
It won't matter if we got half a euro the £ next year, it won't affect 2010 holiday price's, the reason why the tour ops will hedge their euro exposure.
If anybody thinks by next year we will only get 0.89 euro's to the £ are very wrong, the 1 for 1 for is a very strong support level and I think the £ will be worth at worst 1.20 euro to the £.
The £1 is holding its own and the key for the £ to rise against the euro will be interst rates going up, I think anybody will find the euro zone rates will stay the same for a longer than the british rates. The euro is very over valued and a correction will happen sooner or later.
If anybody thinks by next year we will only get 0.89 euro's to the £ are very wrong, the 1 for 1 for is a very strong support level and I think the £ will be worth at worst 1.20 euro to the £.
The £1 is holding its own and the key for the £ to rise against the euro will be interst rates going up, I think anybody will find the euro zone rates will stay the same for a longer than the british rates. The euro is very over valued and a correction will happen sooner or later.
It won't matter if we got half a euro the £ next year
Maybe not for holiday prices but It will matter to peoples spending money! Just think a 3 euro beer would be £6. Now not many would go Eurozone if that was the case!
i think the 0.89 thing has got people confused.
the discussion should be about 89pence = €1 not 89cents = £1
the discussion should be about 89pence = €1 not 89cents = £1
I thought that so I double checked and the OP is talking about .89 euros to the pound!
Steve 8482,
I thought thats what the op meant to start off with which is why I queried their calculations, but they confirmed they did in fact mean £1=€0.89
But as other posters have said, the Euro is quite widely reported to be overvalued, I agree that a correction has to happen sometime, I don't think the Euro can remain this strong for much longer...
I thought thats what the op meant to start off with which is why I queried their calculations, but they confirmed they did in fact mean £1=€0.89
But as other posters have said, the Euro is quite widely reported to be overvalued, I agree that a correction has to happen sometime, I don't think the Euro can remain this strong for much longer...
caroline/chivas
true that's what the OP said but how the number was arrived at hasn't been explained. Meanwhile, whilst this thread has been running, the bulk rate has been floating around €1.12=£1 - or if you look at it the other way round £1=89 cents. That's a bit of a coincedence and I suspect it's where the confusion started.
true that's what the OP said but how the number was arrived at hasn't been explained. Meanwhile, whilst this thread has been running, the bulk rate has been floating around €1.12=£1 - or if you look at it the other way round £1=89 cents. That's a bit of a coincedence and I suspect it's where the confusion started.
Maybe Steve, but, the OP also posted this
So they're saying to get 2000 euros they'd have to exchange £2300 which would mean the pound was worth a lot less than it is now!
Previous currency I have had £1500 has got me just over 2000 euros, I suspect to get the same amount in euros next year I would have to change £2300
So they're saying to get 2000 euros they'd have to exchange £2300 which would mean the pound was worth a lot less than it is now!
Yes but he didn't explain what that was based on. He started talking of a 0.89 conversion rate on a day when we had exactly that but the other way round, that's quite a coincedence. I think he's heard it wrong and panicked.
But he is correct about Italy being overpriced - never mind exchange rates. You have to search hard to find value on a par with other Eurozone countries.
But he is correct about Italy being overpriced - never mind exchange rates. You have to search hard to find value on a par with other Eurozone countries.
carolineb23 wrote:But what makes you think that £1 will only get us €0.89 by next summer :que
Chivas69 wrote:Yeah, why do you think it'll only be 0.89 next summer? How can you get to that? No-one knows what it'll be! It's like me saying 'I'll book for next year because the pound has to get better' Thing is, I don't know! I've a feeling the euro is about to take a bit of a tumble!
I have based this on the last two years, and how the pound has done against the Euro
2007 £1 would get you €1.40
2008 £1 would get you €1.21
2009 £1 will get you €1.10 at the moment, and hopefully by July: £1 = €1.15
If things dont improve, I would think £1 would then get you €0.89, and nov/dec might show an indication of this
If this did happen, the goverment should step in and do something
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