US ($) Currency Thread 2

dazbowski

Indeed, it looks like it could go either way at the moment. It's a pain as i'm waiting on a cheque and then it needs to clear before I can buy.

I just don't want it to drop further, it would then start to hit me harder!

lynzpower

where are you guys looking for the best rates?

dazbowski

On the moneysaving expert, travel money exchange rate checker.

bb69

Hi again

before you rush into things consider the cost of your overdraft and also the cost of getting to one of the top agents - I have been looking daily and the main 3 tend to be Waterloo, Chelsea and Best Foreign exchange all pretty central (well its slight effort for me, may not be for you)

sabretoothtigger

2011.03.28 14:03:
500 pips in 5 days is quite a move for GBPUSD. Why would a currency fall so much despite having at least 50-bps of rate hikes priced in? The UK Budget was deemed mostly neutral and borrowing requirements were in line w/ PM Camerons initial plans. But the problem lies with the growth outlook, which was tacitly revised down by the latest Bank of England minutes. And although the BoE raised its CPI forecast to as high 5%, markets remain unconvinced with the BoEs ability to raise rates without disrupting an economy thats teetering on the edge of double-dip recession. The Office for Budget Responsibility lowered its 2011 GDP forecast to 1.7% from the previous 2.1%. Tomorrows final release of UK Q4 GDP seen at -0.6% from -0.5%. GBPUSD trendline support remains none other than the 11-month support at 1.5850.

With EUR pressured by ESM uncertainty and Portugals borrowing needs, EURGBP may see its gains capped at 0.8830s.

Ashraf Laidi

bb69

Sorry to seem dim, I don't understand 100% does that mean the rate will stay at around 1.58 for a little while?

sabretoothtigger

Tomorrows final release of UK Q4 GDP seen at -0.6% from -0.5%

They expect worse GDP so see what the news says tomorrow I guess. My own view is the rate is near the bottom of expectations, without a bad surprise it shouldn't get much worse is my guess

We made a new 12 month high recently and then a bad fall from there but the new high suggests we'll improve again in future I think

Ive no idea if it'll stay here a while, usually a while to turn it around would be normal, looking for a range of 1.587 to 1.644 weekly

bb69

Thanks very much! Right I need to act quickly... the moment it goes up to 1.6 (if it does) DEAL!! lol

dazbowski

bb69 wrote: »

Thanks very much! Right I need to act quickly... the moment it goes up to 1.6 (if it does) DEAL!! lol

You and me both!

dazbowski

bb69 wrote: »

Hi again

before you rush into things consider the cost of your overdraft and also the cost of getting to one of the top agents - I have been looking daily and the main 3 tend to be Waterloo, Chelsea and Best Foreign exchange all pretty central (well its slight effort for me, may not be for you)

I'm looking to get my money on a prepaid card. Been looking at FairFX, Virgin or Caxton.

None are local, I'm from Merseyside so would be delivery or card.