Travelling to USA in Feb - When should I buy dollar?

miamidice

It's unfortunate for me that the pound has dropped so much against the dollar considering I plan to go on holiday there at the beginning of February. Does anyone who is up on these matters think that it will have dropped a lot more buy then? Should I wait and see how it pans out or buy my spending money in dollars now? Please only answer if you are knowledgeable on the subject.

Baz_2

Buy at 3:35pm 12 Dec 2008

I can confirm I am knowledgeable on the subject.

withabix

miamidice wrote: »

It's unfortunate for me that the pound has dropped so much against the dollar considering I plan to go on holiday there at the beginning of February. Does anyone who is up on these matters think that it will have dropped a lot more buy then? Should I wait and see how it pans out or buy my spending money in dollars now? Please only answer if you are knowledgeable on the subject.

Nobody can possibly know, 'knowledgable' or not.

It depends in too many things, including interest rates in various countries, market sentiment, who wins the USA election (espescially if it somehow isn't Obama), which banks will go bust next, which countries will go bust next, what happens to the price of oil, US economical data, UK economical data...I could go on....:rolleyes:

phatbear

I wouldnt listen to Baz they will actually be at their best rate at 3:30 on the 12th dec, hes feeding you mis information so he can get in there himself and buy up all the dollars. It will also hit a peak at the end of feb, sadly your going away at the start oooh well the gods are funny sometimes.

Personally I would stick with dubloons as their the way forward none of this up and down just a fixed price no mess no fuss, easy as etc etc.

all the best

the bear

moonrakerz

phatbear wrote: »

Personally I would stick with dubloons as their the way forward none of this up and down just a fixed price no mess no fuss, easy as etc etc.

But don't you have to carry them in that b****y great wooden chest ?

miamidice

Baz wrote: »

Buy at 3:35pm 12 Dec 2008

I can confirm I am knowledgeable on the subject.

Thanks. I'll try a forum this isn't so steeped in sarcasm.

richardw

What worst case scenario exchange rate did you assume for on your total holiday cost calculation spreadsheet?

Baz_2

miamidice wrote: »

Thanks. I'll try a forum this isn't so steeped in sarcasm.

You wont get an answer to your question as if we had the answers we would be just as rich as the currency speculators.

Your question is unanswerable.

Toss a coin. And thats probably better advice than anyone on this thread trying to actually give you serious advice.

But being serious you have to ask yourself two questions and bear in mind that the rate is $1.53 now.

1) How would you feel if you bought now at $1.53 and the rates were £1.75 when you went?

2) How would you feel if you didn't buy now and the rates were $1.30 when you went.

The answer to your question is dependant upon which scenario would make you feel worse.

Also could you afford your holiday if the rates were $1.30?

Voyager2002

Standard advice: buy half now, half when you travel.

In general, markets hate uncertainty. So, other things being equal, the dollar is likely to rise a little once the result of the election is known. Other things rarely are equal, so any major event around then may have a greater influence than the election.

Suppose I told you that you should buy in March next year: how would you make use of that information?

LesD

moonrakerz wrote: »

But don't you have to carry them in that b****y great wooden chest ?

I didn't know phatbear had a wooden chest.

When's he having the op to get it cleared up?

sturll

!!!!!! :cool: