loser40

$1.61 to the £1 - highest it's been for a while.

Hmmmm....

M.

Steve_

I think I got really lucky on the exchange rate because the $ plummeted against the £ at the start of the Gulf War in 2003 so I transferred a fair bit over at $2.50 and the rest at $2.37.

loser40

...not that your bragging

macadian

Oh fortunate one, (or fortunate Bastard)...may your next one be a hedgehog....

Steve_

Well all these things have their plusses and minuses. I bought my car for $37,000 and it's the basic model and then around the start of 2009 I saw the top-of-the-line turbo-charged model with every bell and whistle on it on sale in Great Falls brand new for $23,000.

When the Canadian dollar wasn't worth much you couldn't buy much with it.

Basically I came to the conclusion most Canadians are bad at math, because people didn't seem to realize how much higher prices where here until the Canadian dollar reached parity with US dollar, than everyone started to moan even though previously US companies seemed to be charging way over their US prices here.

cyclopes

What are the expectations with the likely interest rate increase tomorrow? I can't figure out if it is likely to work in favour of GBPCAD or against?

As I mentioned previously, I'm looking at shifting some funds over from the UK in the next couple of weeks.

cneldred

Wow, can't believe this thread is still going.

Hobbess

Any real short-term predictions for this week/forthnight? Getting ready to bring over some cash that I'd originaly failed to do at $1.80. Booo.

Now decided just to bring some and get using it, can get $1.63175 right now, do I pull the trigger or will this week bring a continued upswing? $1.7 anytime "soon"?

cneldred

markets are very very quiet. Talk this morning of further aid needed from the Fed, in the form of them buying bonds.

We are really at a crossroads, are things improving or are we going back into recession. Number of comments from Fed in last 48 hrs referring to fact the Great Depression lasted 13 years, sounds like they are preparing us for something.

Not expecting any wild swings either way at the moment, however i think the trend for CAD$ versus GBP will now be an improvement for GBP.

oicur0t

Looking at the charts, there's support at 1.55, but we've probably got support higher at 1.62. hopefully as it has pushed through this previous ceiling and will remain above it. The GBP/USD has also done well pushing clear past 1.55.

Alan2005

There was a piece in the wall st journal about how everyone is now suddenly expecting deflation.

http://online.wsj.com/article/SB1000...editorsPicks_2

Should have happened in 2001, but didn't. Should have happened in 2008, but didn't. It's not going to happen now either whilst there are helicopters that can fly. More printing is likely, which I guess is good for cable and in turn gpb/cad. Though really, who's paper is going to devalue the most over the medium to long term is anyone's guess.

(I stand by my prediction of gbp/cad at 1.75 in the autumn for no other reason than it *feels* about right)

JamesM

I expect the gbp to continue to improve.

Recent economic data in the UK has been better than expected and the realiance of the Canadian economy on the US will start to affect it's dollar versus other currencies in the world.

This combined with all my other points in previous posts I believe will see 1.75near late autumn/winter too.

oicur0t

I agree. The markets like what the current govt. is doing in the UK 'a bit'. They're still shaky, but aware that everywhere else is too. It fits in with a retraction, which will occur after a price movement in one direction, the big one (down) we've all been moaning about!

cneldred

the industry term is a retracement....look for key retracement levels at 33%, 50% and 66% of the move.

manningl

Good to see you back Chris not seen you on here in a long long time