heading-west

Ive just had my daily update form HiFX and todays rate is now 1.56!
Holy cow!

when will it stop???

helcat12

Calm, calm, girl!
It was close to this rate just a few weeks ago in September and it has gone up and then down again, so we are no worse off. It has been as low and 1.48 in the last 6 months, so let's look on the bright side.
Unless you are expecting to transfer funds any day now, don't sweat it!

heading-west

True.

Pretty Flowers

It makes me really happy that the exchange rate is so low now, as I'm heading back to Blighty for Christmas....

Yay! Christmas sales....

helcat12

So is my OH - he has been saying to me since we were married, "Nothing but champagne now I'm the boss!"
He can prove it when he arrives!

the_big_v

I just checked the charts and the news on GBP/CAD and it looks like things are moving in the right direction at least. GBP is getting stronger and CAD is getting weaker. Expect fluctuation over the Christmas period, but I think you'll find a more preferential rate early next year.

I would say don't quote me on that; but I guess thats not how these forum things work is it?!

heading-west

sounds promising

helcat12

Lots of recent opinions that 1.70 is probable in the first quarter of next year. I'd settle for that alongside the much-predicted housing market crash in the Greater Vancouver/ Island area!

PeterF

I'm still paying a mortgage in the UK, so the current rates are OK for me.

I want house prices to rise in the UK and the exchange rate to change, so I can sell my property and buy here.

Both went the wrong way just after I arrived

Mike Gas

Whose recent opinion and source? My opinion is sterling is still in for another crash along with the UK housing market.

Mike Gas

US banks predict sterling set to crash
http://www.telegraph.co.uk/finance/2...-to-crash.html

merica's elite banks are expecting sterling to plummet next year after its meteoric rise to near $2 this autumn, believing Britain's growth surge to be well past its sell-by-date. Goldman Sach has advised sophisticated investors take out a "short" position against pound on the derviatves markets as its top trade for 2007, a bet that the currency will fall.
"The UK remains the largest current account deficit country in Western Europe, with a substantially overvalued currency - about 13pc on a trade-weighted basis," said the bank in a client note.
Jens Nordvig, a Goldman Sachs currency strategist, said the credit cycle was turning as the Bank of England finished raising rates, ending the yield premium over European investments that has made UK bonds so attractive.
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"There are quite a few risks in Britain, especially in the housing market, but this is more a case of Europe doing better rather than the UK falling off a cliff," he said.
Lehman Brothers is even more bearish on Britain, warning in its global outlook for 2007 that the glory days of UK dynamism are drawing to a close. It predicted that Britain's FTSE 100 would lag the other major stock markets in 2007, calling for a cut in the UK weighting of global equities from 10pc to 7pc.
The US investment bank also warned that the odds of an outright recession in the US had shortened to 4/1, though it is still betting that the housing slide will bottom out soon enough to ensure a softish "bumpy" landing.
Alan Castle, Lehman's UK economist, said the pound would fall to $1.82 in 2007 and to $1.68 by the end of 2008 as UK Inc gradually goes out of favour.
"I'm not saying that things will be terrrible, but they will feel much worse," he said. The property boom may continue for a few more months as buyers exploit interest-only mortgages and lax credit offers, but would sputter out in the second half of 2007. He expects interest rates to peak at 5.25pc early next year.
"The surprise is that the pound has been so strong. Current account deficits matter over time and we're worried that Britain's deficit could widen to 4pc of GDP in 2008," he said.
Sterling has a been favourite choice for global central banks switching reserves out of dollars over the last two years but Lehman Brothers said the effect was "starting to fade". Fresh data from the Office for National Statistics show private investors are now the main foreign buyers of UK gilts.
The Bank of Italy switched 20pc of its reserves into sterling last year, while Russia and Switzerland have both raised their share to 10pc. But the data is often out of date when published, reflecting a trend that may already have reversed.
Traders suspect that central banks and Middle East institutions are now targeting the yen, which is at a record low against the euro. The Bank of International Settlements said in its quarterly report yesterday that Saudi investors had been switching out of dollars into Japanese bonds.
Lehman Brothers expects the yen to rocket 12pc against the euro in 2007 as Japan finally claws its way out of deflation.
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heading-west

the date on this report is December 2006 ! and crash it did!

Mike Gas

Exactly just proving a point, you can always find some article or report to go along with your opinion or wishes.

adele

Me too! This is awesome news

helcat12

Other esteemed members of this forum.
Not saying they are right or wrong, but they might be more up to date than 2006.
Search other recent threads and you will see this been discussed several times.