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1806318 No.1806318 [Reply] [Original]

Guys, with the French election on 7th May we might see a drop in the Euro value if Le Pen wins. Betting markets put her chance of winning at 30%.

I have most of my money in a German EUR account, but I live in the UK and have a GBP account too, of course. So my idea was to go on Transferwise and set up a transfer of, say, 10k Euros on the 6th May. Then the exchange rate (market rate) gets locked in for 2 working days and you have to send the money from Germany (in my case) to Transferwise in these 2 days.

Let's say Le Pen wins on the 7th: then the euro probably goes down, but I still have my locked in rate and can "rescue" my money to the UK

Let's say Fillon/Macron wins: then nothing happens or the euro goes up a bit as the risk is gone, and I just don't send the money to Transferwise (nothing will happen, worst they can do is block your account if they think you're misusing their service)

Is there a flaw in my plan?
https://transferwise.com/help/article/2200504/rate/guaranteed-rate

>> No.1806338

what are you doing here, please get out of the UK