Exchange rate - £ into $...
Nov 3rd 2003, 8:12 am
#16
Lost in BE Cyberspace
Joined: Oct 2003
Posts: 22,105
Originally posted by waxwabbit
hmmm, 1.691 today checking on xe.com!
highest all week!
hmmmmmmm
do we do it now, or do we wait.
ARRRRRRRRRRRGGGGGGGGGGGGHHHHHHHHHHHHHHH
hmmm, 1.691 today checking on xe.com!
highest all week!
hmmmmmmm
do we do it now, or do we wait.
ARRRRRRRRRRRGGGGGGGGGGGGHHHHHHHHHHHHHHH
Nov 3rd 2003, 3:49 pm
#17
Forum Regular
Joined: May 2003
Posts: 52
Re: Exchange rate - £ into $...
Hi
There is a lot of talk in the market that the Bank of England will be one of the first central banks to begin the process of lifting interest rates. (they are meeting next week) This will have the effect of making the pound more attractive to large scale investors and therefore stirling will be in demand. I believe that the US Fed will also start to push up rates, but will not start until next year.
In conclusion, I would do nothing until after the BOE meeting next week.
Hope this helps
There is a lot of talk in the market that the Bank of England will be one of the first central banks to begin the process of lifting interest rates. (they are meeting next week) This will have the effect of making the pound more attractive to large scale investors and therefore stirling will be in demand. I believe that the US Fed will also start to push up rates, but will not start until next year.
In conclusion, I would do nothing until after the BOE meeting next week.
Hope this helps
Originally posted by waxwabbit
Ok guys
I know u aint money experts, but a strawpoll.....
Is the dollar gonna get stronger or weaker in the next 2 months? How much of an effect does xmas have on the rate?
As you can probably tell, its coming time to convert our savings. Not sure wether to use my bank (smile/co-op) or xe.com!
Byeeeeeeeeeee
Lee
Ok guys
I know u aint money experts, but a strawpoll.....
Is the dollar gonna get stronger or weaker in the next 2 months? How much of an effect does xmas have on the rate?
As you can probably tell, its coming time to convert our savings. Not sure wether to use my bank (smile/co-op) or xe.com!
Byeeeeeeeeeee
Lee
Nov 3rd 2003, 8:55 pm
#18
Joined: Mar 2003
Posts: 68,280
Originally posted by AmerLisa
Bloody Hell Wax what are you waiting for???????????? If we had our money now it would have already been exchanged!! Do it!!!!!!!!!!!!!!
Bloody Hell Wax what are you waiting for???????????? If we had our money now it would have already been exchanged!! Do it!!!!!!!!!!!!!!
Nov 4th 2003, 1:09 am
#19
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,439
Originally posted by ray6
too late ..down to $1.67 now
too late ..down to $1.67 now
Of course if the economy starts to grow rapidly then interest rates will rise because of that. So a strengthening exchange rate could be argued to, indirectly, cause higher interest rates, rather than the other way around!
Nov 9th 2003, 10:12 pm
#20
Forum Regular
Joined: Aug 2003
Posts: 129
Hiya,
apologies for bringing this up again but wanted a quick question answered. I am from the UK, I have acouple of hundred thousand pounds which I want to exagnge to dollars to take advantage of the exchange rate. I am not ready to goto to the US (maybe another few months time) but I want to exchange to dollars now and hold the money somewhere so when I need it, it will be there already converted. Is there a bank in the UK or a website account I can open and exchange the money into dollars and keep it converted into dollars until I go over to the states?
thanx!
apologies for bringing this up again but wanted a quick question answered. I am from the UK, I have acouple of hundred thousand pounds which I want to exagnge to dollars to take advantage of the exchange rate. I am not ready to goto to the US (maybe another few months time) but I want to exchange to dollars now and hold the money somewhere so when I need it, it will be there already converted. Is there a bank in the UK or a website account I can open and exchange the money into dollars and keep it converted into dollars until I go over to the states?
thanx!
Nov 9th 2003, 10:12 pm
#21
Forum Regular
Joined: Aug 2003
Posts: 129
Hiya,
apologies for bringing this up again but wanted a quick question answered. I am from the UK, I have acouple of hundred thousand pounds which I want to exagnge to dollars to take advantage of the exchange rate. I am not ready to goto to the US (maybe another few months time) but I want to exchange to dollars now and hold the money somewhere so when I need it, it will be there already converted. Is there a bank in the UK or a website account I can open and exchange the money into dollars and keep it converted into dollars until I go over to the states?
thanx!
apologies for bringing this up again but wanted a quick question answered. I am from the UK, I have acouple of hundred thousand pounds which I want to exagnge to dollars to take advantage of the exchange rate. I am not ready to goto to the US (maybe another few months time) but I want to exchange to dollars now and hold the money somewhere so when I need it, it will be there already converted. Is there a bank in the UK or a website account I can open and exchange the money into dollars and keep it converted into dollars until I go over to the states?
thanx!
Nov 10th 2003, 1:34 am
#22
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,439
Originally posted by weiser
Hiya,
apologies for bringing this up again but wanted a quick question answered. I am from the UK, I have acouple of hundred thousand pounds which I want to exagnge to dollars to take advantage of the exchange rate. I am not ready to goto to the US (maybe another few months time) but I want to exchange to dollars now and hold the money somewhere so when I need it, it will be there already converted. Is there a bank in the UK or a website account I can open and exchange the money into dollars and keep it converted into dollars until I go over to the states?
thanx!
Hiya,
apologies for bringing this up again but wanted a quick question answered. I am from the UK, I have acouple of hundred thousand pounds which I want to exagnge to dollars to take advantage of the exchange rate. I am not ready to goto to the US (maybe another few months time) but I want to exchange to dollars now and hold the money somewhere so when I need it, it will be there already converted. Is there a bank in the UK or a website account I can open and exchange the money into dollars and keep it converted into dollars until I go over to the states?
thanx!
Last edited by Pulaski; Nov 11th 2003 at 3:31 am.
Nov 10th 2003, 5:14 am
#23
Forum Regular
Joined: Aug 2003
Posts: 129
Thanx Pulaski I will look into that
Nov 10th 2003, 5:18 am
#24
Joined: Mar 2003
Posts: 68,280
Originally posted by weiser
Thanx Pulaski I will look into that
Thanx Pulaski I will look into that
http://www.citibank.co.uk/uk/index.jsp
Nov 18th 2003, 6:20 pm
#25
British/Irish(ish) Duncs
Joined: Jan 2003
Location: Cambridge MA, via Mississippi and Belfast Northern Ireland.
Posts: 700
Re: Exchange rate - £ into $...
Originally posted by Duncs
Its always a lottery of sorts. My NOT expert opinion is that the dollar has a substantial underlying weakness and will continue to devalue over the next 6 months. You may get short rallys like in the summer but ultimately the trend is down. I reckon it could still lose up to another 10%. The problem is the balance of paymenst which is massively in the red and getting worse. the only way to rectify it is a weaker dollar to encourage exports. Its economics 101 really. The treasury know this and are not supporting it as they want a lower dollar to encourage trade and production and stimulate production hence preventing more job losses. domestic consumption is not strong enough to do this so export trade is essential to their hopes for a better us economy come next years election. All this points to a weaker dollar in the short to medium term.
I am not a expert and just take an interest in these things but thats my twopenneth.
If you are moving over £25,000 you should get market rate for the transfer with most of the main banks. i used Lloyds TSB and they were fine. If below £25,000 you will likely get around 2 cents less than market more than that and they are screwing you.
regards,
Duncan
Its always a lottery of sorts. My NOT expert opinion is that the dollar has a substantial underlying weakness and will continue to devalue over the next 6 months. You may get short rallys like in the summer but ultimately the trend is down. I reckon it could still lose up to another 10%. The problem is the balance of paymenst which is massively in the red and getting worse. the only way to rectify it is a weaker dollar to encourage exports. Its economics 101 really. The treasury know this and are not supporting it as they want a lower dollar to encourage trade and production and stimulate production hence preventing more job losses. domestic consumption is not strong enough to do this so export trade is essential to their hopes for a better us economy come next years election. All this points to a weaker dollar in the short to medium term.
I am not a expert and just take an interest in these things but thats my twopenneth.
If you are moving over £25,000 you should get market rate for the transfer with most of the main banks. i used Lloyds TSB and they were fine. If below £25,000 you will likely get around 2 cents less than market more than that and they are screwing you.
regards,
Duncan
regards,
Duncan
Nov 28th 2003, 5:27 pm
#26
British/Irish(ish) Duncs
Joined: Jan 2003
Location: Cambridge MA, via Mississippi and Belfast Northern Ireland.
Posts: 700
Re: Exchange rate - £ into $...
Originally posted by Duncs
HA right again. It broke £1 = $1.70 today and down from here it goes. i can see it holding this a while longer and making it to $1.75 but dont risk your money on my guesses. Alternatively if it drops back then this is probably the high point so take it if you can.
regards,
Duncan
HA right again. It broke £1 = $1.70 today and down from here it goes. i can see it holding this a while longer and making it to $1.75 but dont risk your money on my guesses. Alternatively if it drops back then this is probably the high point so take it if you can.
regards,
Duncan
regards,
Duncan
Nov 29th 2003, 8:35 am
#27
Lost in BE Cyberspace
Joined: Oct 2003
Posts: 22,105
Re: Exchange rate - £ into $...
Originally posted by Duncs
ahh $1.722 today where its going to stop? i reckon my $1.75 prediction will come about now we are through the $1.70 resistance. cant buck the fundementals of a trade defecit this big no matter what the headline stats in the USA right now.
regards,
Duncan
ahh $1.722 today where its going to stop? i reckon my $1.75 prediction will come about now we are through the $1.70 resistance. cant buck the fundementals of a trade defecit this big no matter what the headline stats in the USA right now.
regards,
Duncan
Oooh lets hope your prediction holds true, especially in January when I want to exchange money.
Nov 29th 2003, 9:11 am
#28
Guest
Posts: n/a
I have a brotherinlaw who is a stockbroker - the expectation in his office is that the pound sterling will reach $2.10 next year - apparently the problem is that the US has a constantly rising (currently 5%) trade deficit gap .
I don't understand all that but England would become expensive to visit if it was $2 to the £.
And consequently cheap for Brits visiting US - or buying houses here.
I have an investment payable to me soon in UK - large lump sum of about $450,000- I also will be faced with the decision about converting it or not.
If I do convert it to US$, even at a high rate - I won't get much interest - if I keep it in pounds then I can get 4% p.a.
Anyone any advice?
I don't understand all that but England would become expensive to visit if it was $2 to the £.
And consequently cheap for Brits visiting US - or buying houses here.
I have an investment payable to me soon in UK - large lump sum of about $450,000- I also will be faced with the decision about converting it or not.
If I do convert it to US$, even at a high rate - I won't get much interest - if I keep it in pounds then I can get 4% p.a.
Anyone any advice?
Nov 29th 2003, 9:40 am
#29
C.G.D.S
Joined: Nov 2003
Location: Ireland--->London--->Spain--->Rockport, MA
Posts: 3,353
Jean I'm taking a chunk of money over to the US with me though of course it's the Euro conversion.
I've talked to a financial advisor over there who reckons on a 6% return for my investment. See if you can find a good one in your area.
My montly income is in sterling so I'm stuck with fluctuating rates. The last time I recall the rate being £1 = $2 was around 1991 and I can vaguely remember it being on a parity. I've done my cost of living sums on the worst possible rate so I don't want to get too excited.
I've talked to a financial advisor over there who reckons on a 6% return for my investment. See if you can find a good one in your area.
My montly income is in sterling so I'm stuck with fluctuating rates. The last time I recall the rate being £1 = $2 was around 1991 and I can vaguely remember it being on a parity. I've done my cost of living sums on the worst possible rate so I don't want to get too excited.
Nov 29th 2003, 10:31 pm
#30
BE Enthusiast
Joined: Mar 2003
Posts: 711
Do they really think that it will be $2 to 1GBP by next year??
I'm in the U.S., getting divorced and moving back to the UK with what I thought would be enough for a down payment for a house.
I should have around $75K to exchange into pounds - how can I get the best rate when I move back??
I'm in the U.S., getting divorced and moving back to the UK with what I thought would be enough for a down payment for a house.
I should have around $75K to exchange into pounds - how can I get the best rate when I move back??