HI All
Just to let you know that I was a Foreign Exchange dealer for a bank in the city, and used to trade the pound against the Euro!!!The EURO is not weakening, its strengthening, or you could look at it as the Pound is weakening, either way the view that you are taking VFE is that over the next year it will continue to do so, its as much a gamble as going the other way, Euro is in a recession, or at least is further down the line than us, personally I don't feel that the euro will continue to strengthen so would not do as your bank manager has suggested unless you want to lock yourself in to a fixed cost you will be paying over the next year. What happens if it goes the other way next week, then you will have just paid alot more for the course than you would have had too....... Its a just a gamble with about £50,000 heads, tails or accept the price today (safe)...... have fun.... Why not convert 50% then you hedge your risk !!!
Wor - Once a gambler always a gambler
