Re: Exchange rate
 

USD is getting weaker for sure - those investors that saw it as a safe haven during the economic crisis are now starting to venture back into other currencies.... The Canadian dollar is giving the US Dollar a beating at the moment - with a bit of luck they could get back to parity again soon :thumbsup:

Re: Exchange rate
 

nooooooooo
:thumbdown:

Re: Exchange rate
 

The pound rally won't last as our economy is truly fecked, and when it starts going down again, I'd expect it to go down further against the CAD

Re: Exchange rate
 

Can't you just go to Seattle to spend your $'s? :D

If it goes back to parity I'll be spending most of my cash in Detroit :)

Re: Exchange rate
 

1.85! Will it keep going or would it be wise to change anything now?

Any ideas??

Re: Exchange rate
 

My advice would be to filter it through if you can afford to.

Do some now at this price, wait, if it goes up, do more, and so on.

Re: Exchange rate
 

best rate for a long time I'd risk 50% now! Realistically how much higher can it go! there nothing has changed to strengthen the £.

Re: Exchange rate
 

It's something to do with the announcement last week that the recession is over in the UK. I have been trickling small amounts through since then so that I always get a better rate than the one before.

Of course the UK still has huge problems so the rate is not going to go on rising indefinitely - we may have to be happy with a top rate of 1.9.

Re: Exchange rate
 

It hit $1.90 to the £ today, now back at $1.89 !!!!

Re: Exchange rate
 

Long term the pound will go higher, Canada needs a weaker dollar for exports and the UK pound is closely linked to house prices. Any signs that the housing market is bottoming out then it will show on all rates vs gbp.

In technical terms we may see a drop to a lower support for while and 1.90 may seems like a natural resistance level.

Re: Exchange rate
 

I agree with you there about strong resistance at 1.90, i think anyone needing some in the next few weeks its worth taking somethign in the high 1.80's, i bought a bit with Cornhill FX this afternoon at 1.8855, its not a huge amount though.

The days of well above 2.00 are still a long way off, commoditiess wil stay strong for a while and the UK economy is still in a bit of a mess, saying that it is impossible to second guess the market, anything is possible!!!

Re: Exchange rate
 

I'd keep checking. Lloyds were offering 2.01 at 8am this morning but have now dropped to 1.79. Could have been a clerical error I guess...

That is retail of course, I'm just looking for my recce in 2 weeks...

NJ

Re: Exchange rate
 

I would have thought that both those figures are wrong. This is usually more accurate to what I normally get http://www.forexdirectory.net/gbp.html

The rate nearly always drops towards evening (UK) time.

Re: Exchange rate
 

I think you were looking at tourist rates both sides of the market, 2.01 would be the rate to sell Canadian, and 1.79 to but, just shows how much money banks make on exchange

Re: Exchange rate
 

Tourist rates are expensive for three reasons:

1 - they can get away with it
2 - the volumes are low
3 - they have to deliver actual currency (notes and coins rather than numbers on a computer screen).

Banks actually don't make a lot of money out of tourists.

As for the exchange rate - who knows what's going on. Suspect that CAD is tracking USD weakness rather than GBP strength. The economic problems (including real-estate deflation) in Canada and the UK are nowhere near over despite some heavy wishful thinking in the media.