EUR all time high?

Trading Discussion
1

Hi,

I am seeing / hearing everywhere that the EUR is at a ‘lifetime high’ against the GBP i.e. 0.7500 BUT in November 1995 (on my weekly and monthly charts at Delta) the EUR/GBP spot price reached 0.9019 (Bid) so how can this be??? Somebody is wrong BUT WHO???

2

For what it’s worth I MAY have found the answer to my own question:

Bloomberg.com: Currencies

From what I gather the GBP is at its lowest against the EUR SINCE the EUR was adopted as the single European currency in 1999 i.e. the current rate is NOT a ‘lifetime low’ but rather the lowest since 1999.

Comments welcome and appreciated.

3

Well yeah sice this a pair we’re looking at, we have to aknowledge both parts. GBP is ages older than EUR. What your charting software showed you is probably a recalculation/simulation… sort of a “what might have happened” :slight_smile: . I am curious though as to how they come up with those values…

4

I don’t have the answer but I’ve attached the chart ‘for fun’!!!

(The date on the label refers to the month start by the way and not the actual date i.e. I don’t know what the actual day was and the daily charts don’t hold enough data to back that far i.e. too many bars on the daily).

eurgbp monthly.bmp (944 KB)

5

Huh, then it must be some monthly estimate or something. Would have been cool to have some sort of simulated history…

Here’s something more freaky.

freaky.jpg700×525 53.3 KB

6

I had no idea that this could get interesting!!!

Here - take a look at these two threads:

BBC NEWS | UK | Politics | History of the euro

and

History of the Euro

Actually - if you just do a Google search for ‘history of the euro’ - there’s pages and pages about it!!!

7

“1979: The European Monetary System (EMS) is created, with the exchange rate mechanism (ERM) defining rates in relation to the European Currency Unit (ECU), a quasi-currency representing an average of participating currencies.”

Lol… so this is how things stand… damn, I was played all along… I always thought I was older than the Euro. :stuck_out_tongue:

So there is some truth to those quotations… nice of metatrader devs to add some history to our charts. Although not much good to us now, really.

EDIT: Huh, according to the second link, the Euro was quoted higher in 92’ than at the time of launch in 99’. That’s six years. Lol. Freaky stuff.