Is anyone else watching the exchange rate?
Jul 4th 2005, 12:48 am
#16
BE Forum Addict
Joined: Apr 2005
Location: Saskatoon, Saskatchewan
Posts: 4,104
Re: Is anyone else watching the exchange rate?
I've been looking around at ways to hedge against interest rate drops (since I have close to zero faith in Brown sustaining the pound). Seems that you can open a deposit account with HSBC in the Channel Islands in Canadian dollars... if the BoE go nutty next week and cut rates I think I'm going stuff a fair portion of my savings into one if the interest rate is still reasonable. I'd lose 3% post-tax interest on the money, but the pound can easily drop 3% in a day or two the rate it's going.
Jul 4th 2005, 5:42 am
#17
Forum Regular
Joined: Feb 2005
Posts: 31
Re: Is anyone else watching the exchange rate?
Originally Posted by nivlad
MMmmmm, interesting, I hope you are right Souvenir and Macadian
So do I!
burmonk1
Jul 4th 2005, 3:14 pm
#18
BE Enthusiast
Joined: Jul 2004
Location: London Ontario
Posts: 998
Re: Is anyone else watching the exchange rate?
Originally Posted by burmonk1
So do I!
burmonk1
burmonk1
I have been speaking to brokers who although cannot see the future still believe we should be in for at least one spike before rates settle at the 2.2(ish) area. But that will not be for a few months yet I am told..
But no one really knows
Jul 4th 2005, 3:23 pm
#19
Forum Regular
Joined: Feb 2005
Location: Thunder Bay,ON from 4th Sept
Posts: 45
Re: Is anyone else watching the exchange rate?
Originally Posted by nivlass
Although the high street banks are giving 2.13 you can get 2.18 with xe.com, I have created an account with them but haven't actually sent any money through them as yet, that scares me a little. When we were in Canada last year we got a rate of $2.50.
Although the rate is awful at the mo...I find that travelex.co.uk book and pay on-line then pick up at the airport no commission..is the best there is.
Waiting for 2.30 or more.....
James
Jul 4th 2005, 7:58 pm
#20
OMG - I'm back
Thread Starter
Joined: Apr 2005
Location: Guelph, Ontario
Posts: 309
Re: Is anyone else watching the exchange rate?
Originally Posted by newapojim
Although the rate is awful at the mo...I find that travelex.co.uk book and pay on-line then pick up at the airport no commission..is the best there is.
Waiting for 2.30 or more.....
James
Waiting for 2.30 or more.....
James
Jul 4th 2005, 8:41 pm
#21
It's a Barbie world
Joined: Feb 2005
Location: Brampton, Ontario (after 9 years in UK)
Posts: 95
Re: Is anyone else watching the exchange rate?
Originally Posted by nivlad
What the hell is the Canadian dollar up to, it has stengthened by nearly 20 cent per pound in the last 6 weeks :scared:
We have just exchanged on our house and will be moving over on the 2nd August just hope the dollar is more like $2.30 ( $2.50 would be really nice) to the £ and not $2.18 it was on on Thursday. It is great that the Canadian $ is doing so well but hell stop spending you guys in Canada - well until 2nd August
I am interested if other people are watching the exchange rate minute by minute, or I am the only sado who doesn't care about work because he is leaving in 2 weeks
We have just exchanged on our house and will be moving over on the 2nd August just hope the dollar is more like $2.30 ( $2.50 would be really nice) to the £ and not $2.18 it was on on Thursday. It is great that the Canadian $ is doing so well but hell stop spending you guys in Canada - well until 2nd August
I am interested if other people are watching the exchange rate minute by minute, or I am the only sado who doesn't care about work because he is leaving in 2 weeks
Jul 6th 2005, 5:18 pm
#22
Forum Regular
Joined: Mar 2005
Posts: 74
Re: Is anyone else watching the exchange rate?
I must confess economics is an area of ignorance in my intellectual repertoire so for those of you that are in the know - do you think the fact the UK has been awarded the Olympics will influence the strength of the pound and tip the exchange rate in our favour? Or is it a just a desperate dream I've concocted?
M.
M.
Originally Posted by Indigo
We're watching it too, our house in UK hasn't exchanged yet but we hope the dollar weakens before we're ready to transfer the money to Canada... And it would be nice to find jobs in Ontario that pay a decent salary too, while I'm having a bit of a moan...
Jul 6th 2005, 6:56 pm
#23
OMG - I'm back
Thread Starter
Joined: Apr 2005
Location: Guelph, Ontario
Posts: 309
Re: Is anyone else watching the exchange rate?
Originally Posted by Quinn of Québec
I must confess economics is an area of ignorance in my intellectual repertoire so for those of you that are in the know - do you think the fact the UK has been awarded the Olympics will influence the strength of the pound and tip the exchange rate in our favour? Or is it a just a desperate dream I've concocted?
M.
M.
I thought the same thing at 12:47pm today! It seemed to do the opposite and the £ dropped to $2.16 before recovery a little. I just hope the B of E don't drop the interest rate on Thursday
