Is the American Dollar going to play the game anytime soon?
24 November 2004, 10:41 PM
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Is the American Dollar going to play the game anytime soon?
Cause at the moment Ladbrookes are offering me .53p on my dollars of which there are 1000 of the bastids sitting on an online poker account!
I'd like to draw the money down sometime soonish but when I put my initial deposite in the rate was .57 and now its the lowest I've seen it. I'd like .56 before I change back is this likely anytime soon or will it likely slide even further!
Imlach, your thoughs please
I'd like to draw the money down sometime soonish but when I put my initial deposite in the rate was .57 and now its the lowest I've seen it. I'd like .56 before I change back is this likely anytime soon or will it likely slide even further!
Imlach, your thoughs please
24 November 2004, 10:45 PM
#2
its only going to go down IMHO, and at an accelerating rate at that now Bush is voted back in. It's being driven by the massive debt they are building up with the budget deficit, and that looks likely to continue to grow over the next 4 years.
I am no currency expert but it doesnt look good for you to wait.
I am no currency expert but it doesnt look good for you to wait.
24 November 2004, 11:12 PM
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Sorry - was long on the £/$ the other day, so profited from the decline in the dollar 
It's $1.87 at the moment - up from $1.84 in 3 days. Could quite easily see $1.90 in the short term, perhaps even $2.
Euro/$ at all time highs too - not helped by the Ruskies buying into the Euro and selling the $.
Could be a measured decline, could be a rapid decline. Common consensus is for a further decline in the $ though.
I'd sell now - it's not going to get much better anytime soon. However, judge for yourself. Forex trading can be volatile!!
It's $1.87 at the moment - up from $1.84 in 3 days. Could quite easily see $1.90 in the short term, perhaps even $2.
Euro/$ at all time highs too - not helped by the Ruskies buying into the Euro and selling the $.
Could be a measured decline, could be a rapid decline. Common consensus is for a further decline in the $ though.
I'd sell now - it's not going to get much better anytime soon. However, judge for yourself. Forex trading can be volatile!!
24 November 2004, 11:17 PM
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Saying that, we were testing $1.90 earlier in the summer, and it never quite got there and pulled back to $1.75 or so.
However, that HUGE U$ deficit now is concentrating minds. Suspect we'll push through $1.90 this time........
However, that HUGE U$ deficit now is concentrating minds. Suspect we'll push through $1.90 this time........
24 November 2004, 11:21 PM
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26 November 2004, 09:56 AM
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In the real world of currency speculation $1000 is not a lot of money, look at it this way. One day the price is $1.85 to the £, your $1000 is worth £540.54 and the next day the value is $1.88, your $1000 is worth £531.91. You are only down £8.63.
Worst case scenario the rate goes to $2.00, you could be down £40 or so.
It all depends whether you want to wait to make or lose an extra £10 or there abouts on the currency moving in the right direction. Considering its $1000 sell them now. The bank will probably take more in commission for changing the currency into £ anyway.
Mark
Worst case scenario the rate goes to $2.00, you could be down £40 or so.
It all depends whether you want to wait to make or lose an extra £10 or there abouts on the currency moving in the right direction. Considering its $1000 sell them now. The bank will probably take more in commission for changing the currency into £ anyway.
Mark
02 December 2004, 11:19 PM
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Dunno if you have cashed these in yet SB, but we hit $1.94 today - ouch!
If only I'd kept that spread bet open last week - I was on £10/pt when we were at $1.86 last week. I sold then for a modest profit, and have lost out on an additional £9k had I held on
Same the other day with crude oil. Sold at a £2k profit - had I held on just 24 hours, I'd have been another £5k up.
Still,just money
If only I'd kept that spread bet open last week - I was on £10/pt when we were at $1.86 last week. I sold then for a modest profit, and have lost out on an additional £9k had I held on
Same the other day with crude oil. Sold at a £2k profit - had I held on just 24 hours, I'd have been another £5k up.
Still,just money
Yeah I took my money out a few days ago before it slipped any further
03 December 2004, 09:33 AM
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SB, at least you can play bigger US games. Im playing 5/10 PL Omaha h/l and making $1k pw. Stick in a big raise and the Yanks back off...but it only costs you 1/2 of that!
or play in Euros.
T
or play in Euros.
T
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