Re: pound getting weaker?...
 

Like others have said rates in the UK are liable to go up another quarter point before the Summer (well, so the financial brains seem to think), and assuming the Loonie isn't going to do anything dramatic in that time that's liable to keep the rate high, and possibly push it a bit higher if Sterling gets to 5.5%.

So (probably) no need to panic :)

Re: pound getting weaker?...
 

I have heard that some exchange companies are willing for a deposit to lock the exchange rate obviously if the rate drops you win, but if the rate goes up then you lose the benefit of the higher rate. But it does seem a safer way of doing things.

hope this helps


regards

steve

Re: pound getting weaker?...
 

thanks for all your thoughts/comments... I am gonna hang on, in no hurry to change into CAD$ so hopefully the rate might get even better nearer the time we want to move.

cheers
fan

Re: pound getting weaker?...
 

Notice that the spot rate for dollar has gone down to 2.26 :( hope it goes back up again

steve

Re: pound getting weaker?...
 

Suspect that's coz UK, inflation figures for last month were down compared to the month before, which lessens the likelyhood of future £ interest rate rises.

Not a lot we can do really, can't really bring forward our flat sale much so we'll just have to take whatever rate exists in the summer and be happy :)

Re: pound getting weaker?...
 

I know that feeling, i am just trying to get our house ready to go on the market, but as you say no way to control the rate just grin and bare it

when and where are you moving to Iain

Steve

Re: pound getting weaker?...
 

Brown's fiddled the inflation figures again to reduce the odds of more interest rate rises. So the pound is falling as a result.

Also I believe the price of oil has risen recently, so the Loonie is probably going up a bit on that basis.

Re: pound getting weaker?...
 

Steve, heading out to Vancouver in August, probably staying there 9 months to a year whilst doing a course at BCIT and then heading across to the Okanagan in '08.

Yourself? Staying in YYZ?

Coming round quickly now after such a long wait!

Re: pound getting weaker?...
 

We are moving to wasaga beach/collingwood area. This does seem a long time in coming, lots of family ties to cut although i am landing in a couple of weeks won't actually move till december. I am getting in on a family visa so i feel sorry for all the poor souls on skilled workers class, 4 year wait just for the visa seems such a long time, would have killed me;)

good luck for the move to BC keep in touch let us know how it goes

Steve

Re: pound getting weaker?...
 

2 things happened today, the Uk inflation numbers shocked to the downside (I still say Uk rates rise at least once more, pre June). But also one of the major US Fed watchers made comments that next US rate move was still a hike rather than the prospect of a cut (unlike BoE the Fed leak their intentions to a number of 'watchers').

Like it or not the CAD$ is linked to the US$, much like the £ is linked to Euro. Mainly because they are huge trading partners and economies as such mirror each other, then rates follow each other. Also, North Korea backed down in the nuclear row, so US$ looking a safer investment. This may all change tomorrow afternoon when Ben Bernanke (Fed President) speaks about the Us Economy.

Bottom line, i am hoping to change everything up between June and August, i would be happy with anything between 2.25 and 2.35. And with the current economic picture that doesn't appear to be asking too much.

Re: pound getting weaker?...
 

should see plenty of activity in exchange rate tomorrow, US Fed just announced they are looking towards cutting interest rates. This should be good for the £, looking for a possible break of 2.40 against CAD$....

Re: pound getting weaker?...
 

Really interesting thread, thanks to all who contributed.

Not an area i have any knowledge in, so v.good read. Although I have of course been watching the exchange avidly for months...

Re: pound getting weaker?...
 

I must admit a 2.40 exchange rate would be lovely specially if it could hold at that for a few months at least until we have sold our house.

It doesn't sound much but on the cost of a house it is amazing how much an extra 12cents on the pound can make

steve

Re: pound getting weaker?...
 

SNAP. I totally agree, come on PPR..., i want to get my house on the market...

Re: pound getting weaker?...
 

From what I've read. If anything, the pound is likely to get stronger. The Canadian economy did'nt grow to expectations last year, where'as the UK economy was essentially as predicted.

The thing about exchange rates, is that they move rather like share prices. ie it's all about performance against expectations rather than just performance.