Rhodes

Anyone have any thoughts on which direction exchange rates might be moving in over the next few months? I know that it is impossible to predict, really, of course, but any comments would be interesting. to me, anyway. I want there to be 2.5 dollars to the pound again. Until I pay a visit back to England, that is.

Glaswegian

If I could predict exchange rates ...

Pretty Flowers

I recall reading an article last week predicting that the Canadian dollar will continue to be strong as a result of high interest rates and a strong economy.

It was in the Globe & Mail IIRC

Sorry folks!

stepnek

We transferred our cash from the UK into our Canadian account this week. I'd agree that it seems that the Canadian Dollar is likely to get stronger in the coming months from what I have read in the newspapers.

SANDRAPAUL

http://www.moneycorp.com/pages/home.html

Useful link maybe?

Its a rollercoaster ride

stelaw

The outlook is not good for converting sterling to canadian dollars. The Canadian economy is very strong, also the price of oil is high ( Canada is a big producer) and Canada's interest rate cycle is at it's start with rate increases expected. All this makes the Canadian Dollar attractive to currency investors and keeps the Dollar strong. Just to compound the issue, Sterling's position is weakening with interest rates at the top of their cycle and likely to fall. Watch the market closely for short term fluctuations but for the long term the highs of 2.5 dollars to the pound are a million miles away.

SANDRAPAUL

With what seems to be knowlegeable information when would the rate be expected to be around the 2.3 - 2.4 mark? The fluctuations seem to be around the 2.2 - 2-4 in peaks and troughs over the last two years. Might we see a rate of 2.4 middle of 2005?

stelaw

It is certainly possible that over a period of 9 months Canada may weaken the strenght of it's Dollar to maintain its' export market to the US but long term forcasting is dangerous and many economists believe that a stronger Canadian dollar over the long term is needed. If you expect to move large amounts of currency within the next year then there are options for you.
You can forward fix an exchange rate - ie. time option forward contracts (visit escapecurrency.com to fully understand your options or as has been previously suggested moneycorp.com both have online dealers who can give you fair forecasting advice).
Hope thats of some help to you..

HaMa

you can search for graphs online

there is a link below with this years rates over the months

http://www.x-rates.com/d/CAD/GBP/hist2004.html

i would keep them in sterling currency account, until the rate goes in my favour unless it is urgent i.e buying a house or so, change a small amount to live off,

HaMa