The Dean

Briefly touched 5.56 (interbank) earlier today, but dragged itself back out of the toilet to the comparative respectability of 5.60-plus in the last couple of hours......... down more than 6 pct so far this year......... last time we saw a rate this good for sending money home was August 2010..........

mikewot

Good innit! I did a transfer today at 5.6677

Meow

Many of my clients are as good rates available for minimal hassle.

mentalist

Looks good from a 3 yr graph too...
http://uk.finance.yahoo.com/q/bc?s=G...=on&z=m&q=l&c=

The Dean

Are they predicting (or are you telling them) that the rate will not (cannot?) go any lower?

Meow

That's very rude of you. I would never do such a thing. I don't own a (working) crystal ball.

Blue Cat

you still got that broom though? >>>>>>>>>>>>>>>> runs

Meow

Yes and will bat The Dean around the head with it if I ever see him again.

Blue Cat

britexpat76

Wish I had some money left..............

scrubbedexpat141

Wish I'd had some to start with.

Still, next commission cheque looks good.

The Dean

What are you talking about? Rude - in what way?

I have been professionally active in the foreign exchange market for more than thirty years, and I have lost count of the number of times people have asked me 'Is this a good time to send money home?' - I'm quite sure you get that all the time too.

As politely as I can, I just avoid answering, other than a bland 'Well, it's a lot better than it was a month ago' (or whatever) - but then again I'm not paid a salary/fee to give financial advice - you are. I don't even make forecasts on a professional level, instead telling importers to work out what is their 'worst case scenario' and hedge against that, and 'never to rely on predictions'.

So - you're an adviser, I'm not. I was wondering how you cope with that in the sort of circumstances we have seen in recent weeks.

Rude?

Meow

Yes, rude. You implied I was telling people rates couldn't go lower. I would never do that and you should know that. The suggestion was that I would mislead people.

All I have said is that rates look better for moving AED to GBP than they have for some time. That's the truth. No one can predict the future, I never do and never offer empty promises and guarantees. That's cowboy territory.



I thought better of you.

The Dean

Wrong interpretation. Oh well............

Fossildog

So the UK lost its AAA. Sterling crash on the cards now. Happy days.