Will Pound Plummet In Future And Why

[pumpjack]

ive got money GBP lying around, i also have a euro bank . i was going to go put it into my euro account this week, but then i hear the arguments over brixit and im thinking if i hold on and wait for GBP to fall then ill bang it into my euro bank.

what would be your thoughts on this ? and if the pound should/will fall when would that be likely to happen ?

[Old_Geezer]

As you have seen of late, currencies fluctuate up and down, if allowed to. Anyone's guess when the high and lows have occurred. Make your financial decisions as you see fit. If the £ is low that's when you less of a different currency for them.

[KARL]

Don't wait until after what you have has fallen in value to change it into to something else because then it will be too late. At about the time the Euro was introduced, for every £1000 you could have had €1600-1750, now you might get around €1120. The £ has been falling against all major currencies (some more than others) for a long time (many decades, more than 50 years) and thus it is likely that for as long as you have held Pounds your fund has been shrinking in value. The Pound is seen by some as the world's best currency, you are of course free to agree or disagree.

[Khandro]

The pound against the Euro hasn't moved much for a long time and it has remained at 1.1 something, euros to the pound. Two years ago it was 1.14 (Feb. 2016) and at the moment it is 1.126 which only makes a big difference if you have very large amounts.
If you want to move currencies, I suggest you use something like TransferWise (which I use) it will make a big saving on what your bank charges.

[jno]

if you wait for GBP to fall, then you'll get fewer euros for it

[jim360]

Not sure what measure you are using, Khandro, but in Feb 2016 the pound was at about 1.28 against the Euro (and it was 1.42 in November 2015). Did you mean Feb 2017?

[Khandro]

jim; I have a strip of paper with various jottings of figures, I have 23 Jan. this year 1.38 and the previous Feb. 14th 1.17 so yes it's 2017. but only once in that time did it fall below 1.1 to 1.09 but I haven't got a date, I think it was in the Summer.

[Khandro]

sorry, that first figure should be 1.138 not 1.38

[pumpjack]

i have 20k gbp to put into irish bank, should i do it now ? what you think

[Old_Geezer]

I think that you should decide for yourself.

Unless you have nerves of steel, either stay with GBP until the disruption of a no-deal Brexit has passed, or move it now. On the other hand, if you like the game, then watch the fluctuations and jump when you think it's on a high.