US ($) Currency Thread 2

inspector_monkfish

back up to 1.6410 now

M4RKM

what? 1.41???? please say that's a typo

woohoo.. it was a typo

inspector_monkfish

markymoo wrote: »

what? 1.41???? please say that's a typo

SORRY!!!!
corrected now

inspector_monkfish

1.6430 trading now

sabretoothtigger

Sterling rangebound but looking weaker


http://www.digitallook.com/news/2906620/Technical_Analysis_Sterling_rangebound_but_looking_weaker.html

inspector_monkfish

good morning
1.6510 in early trading here
well off overnight lows of 1.6430

inspector_monkfish

07:53 23Jul09 GBP/USD: Middle East Demand Still Noted, Orders With London

Speculation that much of the Sterling recovery last session was underpinned by Middle East demand and talk in the early London market is that further buy
orders have been left with London for today.

Overnight trade stalled again at the 1.6500 level but early European input
has brought a push to 1.6520-22. Offers are touted between 1.6540 and 1.6550 with stops above 1.6570 and 1.6590. On the buy side the interest is sat at 1.6480-90 with stops below 1.6450. We are also hearing of two option expiries, GBP 100 mln each with 1.6500 and 1.6550 strikes.

Looking ahead, UK retail sales due at 08:30 GMT and we are looking for a 0.5% pick up on the month and 2.2% gain on the year. Scope for disappointment but while the market is risk focused the data is unlikely to have a major impact.

For Cable we are not overly convinced that the week"s 1.6557-60 highs will be bettered this morning despite the ME demand. A stronger than expected sales number could help consolidate gains but a cautious market could limit direction ahead of the US open.

inspector_monkfish

1.6520 trading

Daddyto3

I am going to LA next week for 4 days, i was just going to get the USD to take with me, to save having to keep changing travellers cheques. I noted on another thread that the general advice was to not take the cash with you.
Am confused as to why?

(apologies if its been covered, i havent read all of the 44 pages on this thread)

M4RKM

Daddyto3 - i'm a huge fan of cash, i always think cash is king, however, there are better ways to maximise the money you take, and one of these is a prepaid card, such as fairfx or caxton.

Example £1000 spending money, go to the post office, and you'll get $1596, get a fairfx card today and you'll get $1635 or a caxton card and you'll get $1621. The caxton is better if you want to use atm's a lot, as they have no fees on spend or cash withdrawals.

M