cneldred

I for one doubt that. Canadian economy isn't immune, but the UK one is well and truely in the toilet. All my funds have been in Euros for the last 12 months or so and i see no reason to change that yet.

geedee

When the USD was above 2 to the pound, I thought long and hard about converting. Could've made at least 8% in a couple of months.... but didn't!

I wouldn't be too optimistic about the Euro. The EU could quite easily unravel, especially after this Georgia nonsense. And the Germans aint doing too well either, and that is the backbone of the Euro.

With the Cold War returning, I think I'll invest in tinned food, personal firearms and ammunition!!

AndyBCbound

What date do they return from the Labour day holiday

cneldred

Labour day is this coming Monday. Next Thursday and Friday will see traders back for the start of September data.

Butch Cassidy

And thats different to the last 29 years how?

cneldred

Comments from a very dovish (favours lower interest rates) member of the MPC yesterday. Forget which one it was but was along the lines of we need to cut (and large cut), starting right now. Said pretty much screw inflation we are heading straight into the biggest recession in decades and we are well behind the curve. Also comments from Alistair Darling UK is braced for the biggest slowdown in 60 years. Both those comments are very very negative for sterling, lower rates in UK reflects a less favourable investment for position traders and therefore a sell versus currencies which are holding rates steady or increasing rates.

All trading desks in the financial markets should be back in by next Wednesday.

Chris

geedee

29.... no, go on, what's the significance?

Anyway, back on topic, seems the 2.05 lifeboat has been missed!

Canada Dreams

we ar pooing our pants, we cant send our money over until end of sept, so here hoping that it dont go too low :curse:

AndyBCbound

Lets comment again in a week or two once the traders are back!!

Canada Dreams

so with the traders off, doe sthe exchange rate stay on hold then

Southcote

We close on our house n 25th September, so need to get some money out here by then. I think we're going to take out a line of credit over here to hedge our bets somewhat and hope that the rates improve over time.

Just seen that Abbey International are offering 7% on fixed term (3 months) deposits. Has anyone seen anything better than this ?

Iain Mc

I'm an idiot for not porting all our CDN savings into USD when it was 1.10 to the CAD a few months back. Would have made 15% already with barely a few clicks of the mouse.

Sigh. I KNEW that wasn't a sustainable exchange rate. Oh, hindsight.

Surrey Expat

Once you become a tax resident in Canada, that is taxed at your marginal rate.
So you don't get to keep it all.

cneldred

NO but the markets are very illiquid due to a lack of traders willing to make prices, and therefore you tend to get a lot of wild price moves during the summer months and the xmas break.

mandymoochops

Well done Darling