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Old Oct 31st 2017, 5:21 pm   #1
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Default Exchange Rate

Glad to see the £ is getting a bid today and now above $1.71. Target upside in the short term is $1.73 and hopefully a retest of $1.77 if the BOE announce the possibility of more interest rate rises in 2018.

For people moving to Canada from UK let's hope Brexit issues get resolved soon, otherwise the £ could be weak for another 2-3 years like it was from 2009-2013
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Old Oct 31st 2017, 5:50 pm   #2
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Default Re: Exchange Rate

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Originally Posted by glendem4 View Post
Glad to see the £ is getting a bid today and now above $1.71. Target upside in the short term is $1.73 and hopefully a retest of $1.77 if the BOE announce the possibility of more interest rate rises in 2018.

For people moving to Canada from UK let's hope Brexit issues get resolved soon, otherwise the £ could be weak for another 2-3 years like it was from 2009-2013
Good luck with all that. I hope it will climb too. But 'conventional wisdom' says that the markets have already 'priced in' a likely UK base rate rise in a couple of days - so perhaps $1.72. If there is no rate rise, get ready for it to slump back down to $1.64ish IMHO.

At the end of the day of course even the experts don't know.

Absolutely agree with you about getting BREXIT resolved soon, or at least starting trade talks. All of this politically inspired nonsense is hurting real people who want to get on with their lives!
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Old Oct 31st 2017, 6:01 pm   #3
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Default Re: Exchange Rate

Sterling spikes as chief Brexit negotiator Michel Barnier indicates that he is ready to speed up Brexit talk

Pound spikes as Michel Barnier says he's ready to speed up Brexit talks
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Old Oct 31st 2017, 7:02 pm   #4
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Default Re: Exchange Rate

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otherwise the £ could be weak for another 2-3 years like it was from 2009-2013
For some it has been weak for way longer than that. We used to expect a low of 2.25, sometimes up to 2.62

Last edited by Jerseygirl; Nov 1st 2017 at 5:08 pm. Reason: :)
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Old Nov 1st 2017, 11:40 am   #5
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For some it has been weak for way longer than that. We used to expect a low of 2.25, sometimes up to 2.62
An average exchange rate of £1.00 = $2.00 would be truly wonderful, but is currently beyond my wildest dreams of avarice for the next couple of years!

But hey - who knows!
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Last edited by Jerseygirl; Nov 1st 2017 at 5:08 pm. Reason: Typo in quote
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Old Nov 2nd 2017, 3:32 am   #6
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Default Re: Exchange Rate

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Originally Posted by Hurlabrick View Post
An average exchange rate of £1.00 = $2.00 would be truly wonderful, but is currently beyond my wildest dreams of avarice for the next couple of years!

But hey - who knows!
I had the option of that exchange rate right upto the BREXIT vote, I moved three weeks later having not taken advantage of that rate. Now I'm earning big bucks in Canada, I want it the other way, bring back 1.50!
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Old Nov 2nd 2017, 5:02 am   #7
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I hate Brexit.
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Old Nov 3rd 2017, 9:26 am   #8
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Default Re: Exchange Rate

$1.672 today post-BOE rate rise - significantly below the 1.71 it was at immediately before. Shows you how hard things are to predict.

Glad I tranferred a tranche a day earlier at 1.70.
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Old Nov 4th 2017, 12:34 am   #9
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Default Re: Exchange Rate

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Originally Posted by Hurlabrick View Post
$1.672 today post-BOE rate rise - significantly below the 1.71 it was at immediately before. Shows you how hard things are to predict.

Glad I tranferred a tranche a day earlier at 1.70.
Lucky you!!! I missed this boat! this time anyways
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Old Yesterday, 9:10 am   #10
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Default Re: Exchange Rate

GBPCAD hovering close to $1.70 this morning.

Let's hope the UK government starts Trade talks with the EU in December and the exchange rate can pop up to $1.75

Last 5 years GBPCAD
Highest: 2.0978
Lowest: 1.5237
Difference: 0.5741
Average: 1.7682

Last edited by glendem4; Yesterday at 9:48 am.
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