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

LesD

Voyager2002 wrote: »

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.

I agree with the first point. But, that's the wrong way round for us! Increasing confidence in the US would strengthen the dollar further, meaning even fewer to the pound!

However, it's obvious the current weakness of sterling is a direct result of the world's view of our 'illustrious' government's incompetent economic management.

So, only internal UK actions will ever improve the currency from where it is now.

fatboyonadiet

When I went away recently I got the rates e-mailed to me daily, when the currency hit a peak I gambled and got half my spends, just so happened the rate dropped quite a bit after and I was quids in.

You can't predict it but you can keep an eye on it and then take a gamble, good advice from baz and voyager

phatbear

miamidice wrote: »

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

And hopefully the other forum you will try will also have a search facility like MSE and then you will realise that this question gets asked weekly and the answer is always the same, but good luck in your search.

all the best

the bear

Shimrod

Also, if you consider not buying your dollars now, get an current account/credit card (such as those from Nationwide) that don't charge an exchange rate fee. Use the current account to get cash & the credit card to spend on while in the States. Regardless of what the exchange rate does, that gives you about 10% more dollars per pound as you get the money at the bank interchange rates instead of tourist rates.

Happy_saver_4

To spread the risk. Buy some now and each month till you go. Or buy some every 14 days; depends how much you want to spread the risk? It's just the same as investing.