greghal

Tom a small differece in rate wont have a huge impact on £2k, but your broker should still offer a forward on any amount

i use Cornhill FX and they have stipulated that they have no minimum for fwds so they are worth a try

monique

I wonder if anyone might be able to provide some advice. I have US funds in excess of $10K to invest, but not sure if I should exchange it to C$. As the loonie is rather high at the moment & increasing by day, I thought I should leave it in US currency and exchange when the C$ drops again, if that is likely to happen again in the near future or not, that is the big question. And one last question if I may, in your opinion, is it best to invest with banks or insurance companies, any preference?.

Thanks in advance.

Alan2005

Do you mean insurance stocks vs banking stocks? Personally I'd stay away from either and keep the cash for the time being. Having said this dyor and don't rely on random postings from people on the internet who may have a vested interest or more likely just be idiots (I'll leave you to work out which one of those groups I fit in).

Edna Bucket

It's anyones guess whether the loonie will remain high against USD but it is causing concern as it could be harming potential economic growth.

I cannot offer any advice regarding where to invest other than the old chestnut about not putting all your eggs in one basket.

monique

Thank you Alan and Edna and Alan, yes, of course I do my own research as well!.

Sam-in-Okotoks

I've heard the Calgary economy has been fixed :-

It is the month of July, in Calgary. It is raining, and the City looks totally deserted. These are tough times, everybody is in debt, and everybody lives on credit.

Suddenly, a rich tourist comes to the City. He enters a hotel, lays a $100 note on the reception counter, and goes to inspect the rooms upstairs in order to choose one.

The hotel proprietor takes the $100 note and runs to pay his debt to the butcher.

The butcher takes the $100 note, and runs to pay his debt to the pig farmer.

The pig farmer takes the $100 note, and runs to pay his debt to the supplier of his feed and fuel.

The supplier of feed and fuel takes the $100 note and runs to pay his debt to the town's prostitute that in these hard times, gave her "services" on credit.

The hooker runs to the hotel, and pays off her debt with the $100 note to the hotel proprietor to pay for the rooms that she rented when she brought her clients there.

The hotel proprietor then lays the $100 note back on the counter so that the rich tourist will not suspect anything.

At that moment, the tourist comes down after inspecting the rooms, and takes his $100 note, saying that he did not like any of the rooms, and leaves the City.

No one earned anything. However, the whole City is now without debt, and looks to the future with a lot of optimism.

And that, ladies and gentlemen, is how your Government is doing business today and our economy is now fixed.

Alan2005

This is obviously bollocks - and is shown so by someone much cleverer than me in this post

Sam-in-Okotoks

So we are not out of the recession then ?? and I thought things were looking up

geedee

The green shoots of recovery turned out to be weeds....

Hobbess

Rate making a bit of a move for the good so far this week. Not sure if it will make the heady heights of 1.9 from 1 month ago, but maybe it will break 1.85.

Any smarter people out there got a crystal ball and an opinion as to whether 1.85 is as good as we are likely to see in the next month. I have until early Sept to bring my cash over so trying to figure out a good strategy.

TheBear

The crazy season could last another a month or two. Our country is currently going through a mass denial that our collective finances are total dog poo, and they seem to have convinced others too. It won't last. Later in the year I believe we will see a repositioning of the pound and I wouldn't be surprised to see it hit 1.5 at some point. Why don't you do what I've done and hedge your bets by having half your dosh in loonies and half in sterling? You won't win, but you won't lose either.

Hobbess

I was hoping for a post by TheBull not TheBear

Bringing money over to put in our house to reduce our mortgage so longer term benefit of the money being here can offset the worse rate.

I had been planning on bringing over a little extra too to help with our basement reno and to start off our son's RESP but now holding off on that and hedging a little that way.

tim01

Hobbess, i would be inclined to agree with the Bear! its so hard to forcast, especially when it moves fomr 1.92-1.78 ni a few weeks. If I were you i would hedge your bets, do some at 1.80, then look for 1.85 for some more, at least then you arent left exposed on the whole amount if we see sterling sold off

Ive just had my brokers morning report through and i can see things are heading in the right direction. Their general feeling is that there is alot of support around 1.78

Hobbess

Can somebody go and give the FX rate a good slap.

I've brought over 2/3 of my money at a rate that works out to be about $1.81 to £1, not great but right now not bad either.

I was then about to trade the last of it on Monday when I could still get $1.805 but stupidly held on for that number rather than trading at $1.803. The difference was what worked out to be about $50 but I was sure I'd get that rate.

Then Monday afternoon it started sliding and sliding and is now around $1.76 with no positive news and the chances of me seeing $1.80 again this week are between slim and none I'd say. Really not good when I need to move my money this week.

So any help in boosting the UK£ and slapping around the CAD$ would be appreciated

Sam-in-Okotoks

I'll keep everything crossed for you