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Is now the time to buy Dollars?

Is now the time to buy Dollars?

Old Jun 6th 2013, 6:52 pm
  #16  
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Default Re: Is now the time to buy Dollars?

It's impossible to determine the "best time" to buy currency because currency fluctuations aren't in any respect predictable over a long period of time.
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Old Jun 6th 2013, 6:56 pm
  #17  
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Default Re: Is now the time to buy Dollars?

Originally Posted by orly View Post
Around $1.63 has been the resistance point for about 3 years now.

If it gets above $1.65 for any length of time (talking weeks or months rather than minutes or hours) then more research might be needed.

If it dips back down again then it's business as usual.
Thanks for that - shall watch carefully, means the area we were looking at property has just got better !
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Old Jun 6th 2013, 7:49 pm
  #18  
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Default Re: Is now the time to buy Dollars?

One thing you can do is set up a trigger where you agree to buy a certain amount of currency at a rate you specify. You are obviously contractually bound but the nice thing is that currencies can spike overnight and you'd never know it by the time you're munching your breakfast. I managed to get some better deals over a period of one year, moving money from Canada to UK. I would be cautious bringing all my money over to Canada with the rate as it is. It's been like this for some time having reached about 1.45 a few years back and peaking at about 1.65. At least the decline seems to have subsided but I don't envy people exchanging at any of those rates.
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Old Jun 6th 2013, 7:53 pm
  #19  
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Default Re: Is now the time to buy Dollars?

Originally Posted by Steve_ View Post
It's impossible to determine the "best time" to buy currency because currency fluctuations aren't in any respect predictable over a long period of time.
I think it's a fair bet that there will be a spike after the next election if the LibTorDems get thrown out. But it probably won't last long, particularly if Labour replace them.

Ultimately, it's not likely to improve a lot so long as the British economy is doing much worse than the Canadian economy.
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Old Jun 6th 2013, 11:40 pm
  #20  
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Default Re: Is now the time to buy Dollars?

1.60 now
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Old Jun 7th 2013, 1:25 am
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Default Re: Is now the time to buy Dollars?

There will come a point where the level is such that going back to the UK would be irresistible.
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Old Jun 7th 2013, 3:05 am
  #22  
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Default Re: Is now the time to buy Dollars?

Originally Posted by Alan2005 View Post
There will come a point where the level is such that going back to the UK would be irresistible.
Oh no, there wouldn't.
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Old Jun 7th 2013, 3:25 am
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Default Re: Is now the time to buy Dollars?

Originally Posted by Novocastrian View Post
Oh no, there wouldn't.
Maybe not for you. But at 1.2 or 1.3 I'd seriously consider it.
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Old Jun 7th 2013, 3:35 am
  #24  
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Default Re: Is now the time to buy Dollars?

Originally Posted by Alan2005 View Post
Maybe not for you. But at 1.2 or 1.3 I'd seriously consider it.
At anything like that I'd consider staying in Canada where my pension would be a more liveable amount.

I'm obviously more concerned about the C$/Euro rate.

But not that much.
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Old Jun 21st 2013, 2:19 am
  #25  
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Default Re: Is now the time to buy Dollars?

Another dropping day - now $1.60 to the £.

Only 40 more cents to drop then I will be happy !!!!
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Old Jun 21st 2013, 3:32 am
  #26  
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Default Re: Is now the time to buy Dollars?

Originally Posted by London-England-Lads View Post
Another dropping day - now $1.60 to the £.

Only 40 more cents to drop then I will be happy !!!!
I'm a bit confused by that. From your earlier posts I'd understood that you have some capital from a house sale in the UK (presumably in Sterling), and are wondering when to move into C$?

If that's correct why would a drop of 40c help?
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Old Jun 21st 2013, 11:30 am
  #27  
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Default Re: Is now the time to buy Dollars?

I'd like the CAD$ to stay strong against the GBP for the next 3 weeks while I'm spending in the UK. Then it can got the other way again.
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Old Jun 21st 2013, 11:50 am
  #28  
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Default Re: Is now the time to buy Dollars?

Originally Posted by Novocastrian View Post
I'm a bit confused by that. From your earlier posts I'd understood that you have some capital from a house sale in the UK (presumably in Sterling), and are wondering when to move into C$?

If that's correct why would a drop of 40c help?
Sorry, bad use of terminology, meant I am holding out for $2 for a pound. I know I may have a very, very long wait !
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Old Jun 21st 2013, 12:27 pm
  #29  
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Default Re: Is now the time to buy Dollars?

Originally Posted by London-England-Lads View Post
Sorry, bad use of terminology, meant I am holding out for $2 for a pound. I know I may have a very, very long wait !
I dream of that!

It would be a 25% pay increase for me.
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Old Jun 21st 2013, 2:39 pm
  #30  
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Default Re: Is now the time to buy Dollars?

Hard to see how the £ will appreciate (in the medium term) with a slacking economy and Carney at the helm. C$ could depreciate if global resource demand slows. My guess is 1.60-1.80 over the next two years.
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