US ($) Currency Thread 2

neilbond007

I found an "expert" yesterday on dailyfx who said the pound had hit it's peak at 1.6450 and was likely to fall. They've changed the website and I'll be jiggered if I can find it now....

Personally if you can get 1.60 on the high street I'd take it now!

Crown currency don't look too optimistic
http://www.crowncurrencyexchange.com/
Only 1.64 for Mid November...

thatsfabulous

neilbond007 wrote: »

I found an "expert" yesterday on dailyfx who said the pound had hit it's peak at 1.6450 and was likely to fall. They've changed the website and I'll be jiggered if I can find it now....

Personally if you can get 1.60 on the high street I'd take it now!

Crown currency don't look too optimistic
http://www.crowncurrencyexchange.com/
Only 1.64 for Mid November...

I agree, $1.60+. I think sometimes people compare the rate to last years nearly 2 dollars to pound but i think it if you try and compare it to the rate early this year instead of 1.30, 1.60 is good!!

neilbond007

thatsfabulous wrote: »

I agree, $1.60+. I think sometimes people compare the rate to last years nearly 2 dollars to pound but i think it if you try and compare it to the rate early this year instead of 1.30, 1.60 is good!!

I agree! I was here in January getting 1.35. And then changed £20k @ 1.51. So 1.60 looks very appealing

wakeywarrior

I think as long as the economic data released Friday DOES indicate the suggested .2% increase in the growth of the economy, then I think we could see it edging towards 1.70 (market rate, not tourist rate) by the weekend or Monday. Pound is undervalued, Dollar weak and no sign of Dollar strengthening anytime soon. Pound will be on a roll against the dollar as long as we lift out of recession on Friday. However, I suspect $1.70 ish may be a ceiling for the time being, with a risk it could decline on any bad news. If I was going mid November, at this point I would wait and see what it did Friday and into early next week, with a view to possibly buying Monday/ Tuesday unless there is a clear indication that the roll could continue.

inspector_monkfish

1.6590 this morning

off the overnight high of 1.6635

inspector_monkfish

1.6510 now

taken a bit of a hit after worse than expected retail sales data

sho_me_da_money

inspector_monkfish wrote: »

1.6510 now

taken a bit of a hit after worse than expected retail sales data

Where is that rate available?

inspector_monkfish

sho_me_da_money wrote: »

Where is that rate available?

in the interbank money market

high street prices will be 3 or 4 tics lower if you are buying usd

1.6545 trading now

neilbond007

Morning all!!

Creeping back up to 1.66... 16590 at the mo...

inspector_monkfish

08:15 23Oct09 MARKET TALK: Confusion Will Keep GBP In Check


0715 GMT - The GBP's recent rally may be over but it may take until Nov. 5 for the pound to fall back again. The reason? Continued confusion over what the Bank of England intends to do with quantitative easing, according to Forex Focus by Nicholas Hastings.

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Translated as, "Sorry, we haven't got a clue whats going on!"