US ($) Currency Thread 2

sabretoothtigger

Pity the Bank of England. The central bank has been assailed for keeping interest rates at emergency levels while inflation has hit 3.7 per cent. Worse still, consumer prices have been rising at or above the upper limit of the Bank’s 1-3 per cent target range throughout 2010.

But do not pity sterling bulls. Foreign exchange investors have bolstered the pound this year on the expectation that interest rates will soon be raised. Yet it remains far from clear if the Bank’s Monetary Policy Committee will take such a step. Neither is it clear increasing interest rates will actually benefit sterling given the fragile outlook for Britain’s economy. As a result selling – not buying – sterling is likely to be one of this year’s big ‘macro’ trades in the currency markets.

http://link.ft.com/r/4RNQTT/72TRYQ/95CVQ/XT9S2R/6V34JM/4O/h?a1=2011&a2=2&a3=7

waxxy

just got some of my holiday money the exchange rate was 1.58 when i went today even though when i checked on xe.com the rate was still 1.61 .. $1000 cost me £632 which isnt too bad i suppose

sabretoothtigger

The rate they give you is always off the actual real rate. Thats how they make the money, mostly they will advertise 'free' holiday money deals but charge you via a bad rate.
I dont know if theres a minimum amount to exchange but the positive side is without a fixed cost you can buy in lots instead of all at once

I dont imagine the rate shooting up to 2 dollars anytime for years but if it did and you scaled your purchase you'd still benefit a bit

Sterling Index At 1000 GMT
 
      (JAN 2005=100)     INDEX      GBP/USD     EUR/GBP 
     PREVIOUS CLOSE      81.8       1.6111      0.8406 
               OPEN      81.7       1.6152      0.8436 
              10 AM      81.5       1.6119      0.8441 
               NOON 
               2 PM 
               4 PM 
 

February 08, 2011 05:00 ET (10:00 GMT)

Dollar index recovered a bit recently but generally its still stuck under the weight of previous selling.
I think it'll be calm for this week before breaking out more actively either way

neilbond007

Off to Florida tomorrow for 5 days. Last break before Bond jr turns up (Just found out it's a girl!). Moving from -6C to 25C for a few days. Wahoo!

1.6036 at the moment

jackieblack

Have a great time Neil, lovely news about Little Miss Bond,

(My DD is almost 15 now and sometimes I long for those days before she was mobile and didn't talk yet! )

kronenbourg

if theres a sainsburys near you that has a travelmoney bureau then you can get in theory over 1.58 if you spend over £500 with a combination off £5off £500 and extra 500 nectar points

bb69

neilbond007 wrote: »

Off to Florida tomorrow for 5 days. Last break before Bond jr turns up (Just found out it's a girl!). Moving from -6C to 25C for a few days. Wahoo!

1.6036 at the moment

Ahhh lovely

Enjoy your hols

Mickyp

Is it best to order over £500 worth of dollars online for delivery then go to the local post office and buy it over the counter?

Cheers!

jackieblack

Mickyp wrote: »

Is it best to order over £500 worth of dollars online for delivery then go to the local post office and buy it over the counter?

Cheers!

Depends on how you define best

You'll probably get a better exchnge rate online but, depending on where you order from and how you pay, may incur cash advance/foreign transaction fees and risk the $ not turning up or the company going belly up and losing your money (eg Crown Currency Exchange).
If you go to your local Post Office you won't get such a good rate of exchange, but you can pay in cash (avoiding fees) and at least you'll walk away with your $ in your hand.

neilbond007

Well not too much happened the last few days! Still hovering just above 1.60

I can honestly say if I never go to Florida again it will be too soon!
Weather turned from 27C and sunny on the day we go there to 16C and cloudy, rainy and windy for the duration of the holiday.
West Palm Beach is a craphole of the highest order. Orlando wasn't too far behind it either. Everywhere is crowded... the drivers are terrible (yes, even more terrible than the rest of the US).

So much for the relaxing break!

Next time it's back to Arizona / California!

Rant over