GBP/EUR - Exchange rate alerts

[Jason W]

... 4 cent to the £ increase would amount to £6k on a transaction of £150k. Speculation, yes but not to be sniffed at for the sake of waiting 4 or 5 wks. IMHO 👍👍

Let's say £150K would get you an extra 6,000 if the rate is 1.20 in Dec - 180,000 instead of 174,000 - exchange at 1.16. This is way too risky in my book.


I would rather make some money on the way up.

Exchange £40K once it'll hit 1.17 (extra 400) ---- 46,800
Exchange £40K once it'll hit 1.18 (extra 800) ---- 47,200
Exchange £40K once it'll hit 1.19 (extra 1,200) -- 47,600
Exchange £30K once it'll hit 1.20 (extra 1,200) -- 36,000

All in all 177,600 instead of 174,000 - exchange at 1.16.
Making extra 3.600 without putting all your eggs in one basket. I know, this will get you 2,400 less but that's what you're paying for the reduced risk.

What if something goes terribly wrong and the exchange rate will drop down, right the next day after the elections? Let's say down to 1.12 - looking back, we had this exchange rate last month, 1.20 on the other hand, back in 2016/2017.

If you'll exchange the whole sum at 1.12 you'll get 6,000 euros less (168,000 in total). if you'll follow my example you'll still gain 1,200 (175,200 in total).

Based on your post, have exchanged 85% ready for my property purchase at average of just over 1.171 so more than happy, took around twenty trades over 3 weeks or so, the markets are very twitchy at the moment.