Re: Exchange Rate Today
 

I like a woman who spreads it about

Re: Exchange Rate Today
 

That's what I heard.

Re: Exchange Rate Today
 

And given that it's now at last within range of its purchasing power parity, the current rate is probably a lot more realistic than the rate six months to a year ago.

Household debt in the UK now exceeds its yearly GDP. Ouch.

Re: Exchange Rate Today
 

Why do I get the feeling that corruption will be revealed sometime in the near future regarding this 'recession'? Just saw some dude on CNN news who is well paid to know what is going on simply confess: "I don't know how it happened." :ohmy:

(Just heard it's Alan Greenspan. Not impressed!)

Re: Exchange Rate Today
 

Pound is now down to $1.59.

Re: Exchange Rate Today
 

Now at $1.52.

Re: Exchange Rate Today
 

Have you got www.xe.com as your homepage, Michael? :p

It just gained a little - $1.53! :D

Re: Exchange Rate Today
 

No, I was watching CNBC.

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What are they saying? How bad do they think it is going to get? :(

Re: Exchange Rate Today
 

The markets are down in Europe about 8-10%.

UK anounced that the economy contracted by .5% instead of expected .2%.

OPEC cut production by 1.5 million barrels a day but oil prices still fell by about $3.

Asian markets also fell badly 5-12%.

Euro also dropped to $1.25 per euro.

Dow futures are down about 450.

A very good day.

Re: Exchange Rate Today
 

Well, at least the pound has strengthened by .02c since we've been posting. :)

Re: Exchange Rate Today
 

OMG! :ohmy:

This is a disaster for my move. :(

Re: Exchange Rate Today
 

Jesus Christ, that's a nightmare for anyone trying to move UK > US.

I was watching the Fox markets channel here in US yesterday morning and there was an "expert" on saying that any dollar strengthening will only be temporary. I suppose in the immediate short term with UK interest rates seemingly likely to be cut further then sterling looks a bit fragile? Will the result of the presidential election have any bearing on the strength of $? I guess that nobody can predict with certainty because otherwise we would all be playing the currency markets.

Britishguy36 you have my sincere sympathy. Just as we exchanged on our house in UK, Sterling started tumbling. It was some of the most stressful days of my life. At least the US housing market is still weak and there are bargains to be had. Really hope your move works out.

I'm considering cashing in and changing all our $ back to GBP and moving us back. Crazy times.

Re: Exchange Rate Today
 

Yeah it's mental mate. All the best with your decision.

I think I'm just going to move a small amount to our US bank account after the house sale, and see if the exchange rate perks up, and transfer more later.

Re: Exchange Rate Today
 

I'm not a very heavy user of XE, but I do use it each month to send money back to pay my UK credit card bill and the last part of a loan. I make sure I send £400 each month. When I first started this back in May when I got my first job here, it cost me $813 and change to send £400 (not including the XE fee).

Just done a basic trade today and it cost me $636 for the same trade.

I'm not complaining.