Goochie

Given the dollar's recent fall against the pound, what are people's opinions on wether the fall will continue and how long for? Will we see a rise soon?

Cheers.

super_si

Debating the same thing. Do i get £500 notes now, or what nearer august

Telboy............

imlach

If anyone knew the answer, they'd be rich.

One may think the dollar may not fall much more, but the markets are unpredictable.

I can guarantee the dollar will rise. When? Who knows



[Edited by imlach - 1/9/2004 9:54:19 AM]

TelBoy

It's certainly very temptimng up here - to the point where i've bought some USD myself for various bits and pieces. The call is 1.85 short term, not a million miles from 1.833 where we are now.

Will it last? Lots depends on who hurts hardest. China, Japan or even Europe could be the catalyst to a reversal, but so far we haven't seen any intervention to give us many clues. China and USA are playing political hardball through the forex markets, "unofficially" of course...

Bottom line, i think it's near the top of the range here.

lpski1

I changed up £760 on monday and got 1.71$ to £ and currently its 1.83$ :-( could of got an extra 90$ today. doh!

[Edited by lpski1 - 1/9/2004 9:44:41 AM]

TelBoy

I doubt you'd have got anywhere near 1.83 from any High Street outlet though to be honest.

"Tourist" exchange rates rank with some of the biggest rip-offs out there....

330uk

I bought 8K of the greenback on Monday at 1.81 now its 1.83
Gonna buy another 5K but waiting for it to hit around 1.85 now.

With the Bank Of England deciding not to change interest rates this week, it has strengthened the pound even more. I reckon 1.85 is the target to aim for.

If you want the best rate in USD its best to ask your bank for a dollar account. But this only applies to business peeps.

[Edited by 330uk - 1/9/2004 9:54:59 AM]

super_si

looking on my travel it was 1.74 i think, forgot already lol

Si

Diesel

Where's the best place for a punter to do it guys? Could it be Travelex as they promise to buy it back free (once it's back at 1.46)??? That would be something!

Goochie

Use a switch/maestro card when you get to your destination. That way you get a very good rate indeed.

Adam M

I know that xe.com give a fantastic rate if you need to send money to the states. The wire between countries is free so you only pay the rate.

alcazar

iTrader: (2)

If you need to change more than, say £1000, it's worth ringing round travel agents, pointing out what you know the parity rate to be, and asking for the closest they can get.

When I changed a lot over the last two years, I got 1.60 Euros when the rate was 1.62, and the travel agents were offering 1.54, and similar increases at lower rates. You can usually push them to about 4 or 5 points.
Better in your pocket than theirs. My best deal saved me nearly £2000.

Alcazar

Mungo

If you want a USD bank account, I'm fairly sure NatWest do personal foreign currency accounts.

330uk

USD account is the best way to buy currency. You get almost the same rate as xe.com but just slightly lower.

Old_Fart

Diesel, if you fancy a punt then one of the spread betting firms is the way to go.... for example City Index quote March (15 march 2004)GBPUSD 20 points wide, eg 1.8241/1.8261..you sell at 1.8241 (the forward rate is 1.8264 as I type) in £5 a point and as the rate changes you win/lose depending on how you called it...you can run it untill march if you like, or take profit early if it crashes before then.
Rgds
Chuck (wishin he'd hedged his expected bonus LOL)

DAC

Was going to post same post this morning.


so anyone know best rate for exchange - for holiday peeps like me.
around £1000

USD 1.74 - is a bit crap

marky1

It's gonna test close to 2 before the end of the year I think

not saying it won't go to 1.70 first though.

Mark

330uk

Old_Fart: Mate explain how to deal using city index. Never done this. Do you buy on credit card ? What do they charge.
Currently buying and selling through sterling and USD accounts would be interested in the city index thing

Old_Fart

Have a look at www.cityindex.co.uk all I am talking about is spread betting.
Good luck
Chuck

alcazar

iTrader: (2)

DAC: make sure it's £1000 or more, then pressure the high street travel people to do a good rate.
I've used Going Places, and Lunn Poly before now, and each time, had 5 or 6 points above the posted rate.

If you change £1000, that's worth a few quid.

Alcazar

Butkus

Citibank do personal USD accounts.

DAC

its still on the up

TelBoy

Today's non-farm payroll numbers might have extended the topside even further to be honest. 1.85 *could* be just a stepping stone on the way to 1.90...

330uk

Oh my god cant believe its hit 1.85 already. I think it had alot to do with Bank of Englands decision yesterday on interest rates.

I know reckon it will hit 1.875 before it goes back..

marky1

nope, it's because non farms were +1000 only and there was a romour they would be 300,000+ Talk about a lot of people getting caught! What do u do Telboy?

Old_Fart

Cityindex march cable (gbpusd) now 1.8371/1.8391
So thats a quick £750 loss for anyone who sold it £5/point after my post earlier today....still, it could always come back LOL
Cman

gareth123

You can save yourself a *lot* of money buy using www.xetrade.com for exchanges. I moved a bunch of cash out of the UK to the US at 1.827 yesterday. I had been sitting watching the rate since mid December and I 'made' an extra $11K by waiting until yesterday Thought 1.83 was about as high as it was going to go so took the plunge, although it seems today I was wrong. Oh well. I still don't think it's going to get substantially higher.