Outlook for the Euro

[alan5616]

We know that the UK economy is suffering and, consequently, the GBP has become devalued against other major currencies.

However, I can see no logical reason for the Euro to be at such a high level, especially against GBP. I don't trade the Euro so, have no axe to grind here.

Let me put forward my reasoning for what I consider to be an overvalued Euro. I have contacts in Eire who tell me that businesses are in dire trouble. Thousands of Irish consumers are doing their shopping in Ulster thus, depriving the economy of Eire substantial retail sales. The Spanish construction industry has major problems and they have the highest unemployment rate in Europe. Also, Spanish tourism has been badly affected. The Greek shipping industry is in a state of turmoil. Recent S&P ratings have downgraded Spain, Portugal and Greece.

I'm no economist and don't like making predictions but, imho, the Euro is going to get it's ass kicked in the very near future. Any other members share similar thoughts or disagree with my assessment?

 

[erad]

Hi . I think that you are right the euro has further to fall as their companies seem to be in trouble.

ERAD

 

[alan5616]

Hi . I think that you are right the euro has further to fall as their companies seem to be in trouble.

ERAD

I wish I'd "put my money where my mouth is". €/£ has been in free fall since Sunday night opening. It must have been a group of wealthy, international speculators, reading my post, and trading it short

 

[Jigs]

Its doing the see-saw against the dollar, overvalued here too..
Think it deserves to be in the 1.23's! FYI - (for those wealthy ones reading this post)..

Unfortunately I messed up on my shorting actions here today!..