FOREX traders views on Britain joining the Euro?

[tommog]

Hi everyone,

I am no economist (as i am probably about to demonstrate to you) however the more i think about britain's "inevitable" (?) join into the euro the less i see it as a positive step. If we lose the pound then we will lose cable which is a highly traded highly liquid pair, apart from people that have made careers out of trading cable and being one of it analysts having to re-think the line of work they specialise in surely we are losing liquidity into the foreign exchange. When people buy the pound against the dollar the dollar is loosing value, which can impact other dollar related pairs. So would we in this case have less volume traded in forex, because all those millions if pounds thats were bought and sold would no longer be traded. Surely the less currency pairs that are traded the worse it is for capitalism (the engine that powers finacial markets) because there is less choice for investors to speculating thus reducing competition? Are we heading for a world where there are only 3 main currencies Dollar Yen and Euro? Could a single world currency ever happen? In 100-200 years will their be a forex? People say that that will never happen because countries wealth varies so greatly and one currency couldn't govern all the massive differences in economic strength fairly. Which would lead to a situation where wealthy countries growth is stifled for the sake of emerging countries. But isn't the euro at risk of doing this , europe holds many countries whos economic structure is beyond compare that will end up having the same currency. My (uneducated) view on this is something we should be concerned about

Ive tried to keep this trading related and not political and i dont know if my views are correct like i said im no economist but i thought people that are interested in trading forex would have a view on this.

Thanks for your time and opinions

 

[Mr. Charts]

The demise of GBP by joining the euro appears very unlikely at present so that is probably academic.
If France rejects the constitution it becomes even less likely as progress to integration will be weakened.
We are only likely to join the euro is if the current government promises that we won't.

 

[moe]

there will be 6 currency to trade inb the future, east and west euro, east and west asian ( yen ), u.s.d. north america, and some kind of south america currency. this will be a good thing the market will be crazy.

 

[Roberto]

At the moment even Blair is admitting that it's extremely unlikely that we'll join the Euro in the foreseeable future.

 

[LION63]

The UK was never likely to adopt the Euro and the events of the last 5 years have shown that it is now a dead issue. Even the charismatic Gordon Brown would be unable to convince the British public that the time is right for the UK to take a leap into the abyss.