Muskoka

I'm completing on my UK property today and aiming to use Moneycorp to transfer funds. I can see the rate has really dropped this last week (which is bad news for me). However Moneycorp has said I can book a rate then funds can be transferred. Not sure wether to transfer funds to Monecorp before I return to Canada in two days, or if its going to be more difficult to leave funds in UK bank (UK bank insist I have to go into the bank to make a very large transfer) or which way to go on this.
Also I guess nobody knows wether rate is going to go up or down in the near future
Any thoughts or advice would be appreciated.

uk_grenada

Nobody can know the future of rate movements,cif they did, they would be very rich very quickly... Personally i use ukforex.co.uk part of ozforex who do a good job. You can hedge against an unfavourable change either by doing the transfer now and letting the forex co hang onto the proceeds for a short time, but this itself has risks as they arent as tightly regulated / dont have govt backed guarantees as the banks, if they go bust getting your money back could be an issue. The alternative is you can buy an insurance product, it will cost you a few percent of the sum for 3-6 Months cover so may not be a good value proposition. The forex people sell them.

My personal crystal ball says the us dollar - i think the cause of your woes - is stable at current levels, the drop to now was predicted pretty accurately by the markets. Where it goes now depends on interest rate changes which are predicted, and of course the performance of the us economy.

Muskoka

Thank you for your thoughts.