Re: Exchange rate
 

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.

Re: Exchange rate
 

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!!

Re: Exchange rate
 

What date do they return from the Labour day holiday:confused:

Re: Exchange rate
 

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

Re: Exchange rate
 

And thats different to the last 29 years how?

Re: Exchange rate
 

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

Re: Exchange rate
 

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

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

Re: Exchange rate
 

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:

Re: Exchange rate
 

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

Re: Exchange rate
 

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

Re: Exchange rate
 

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 ?

Re: Exchange rate
 

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.

Re: Exchange rate
 

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

Re: Exchange rate
 

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.

Re: Exchange rate
 

Well done Darling :sneaky: