Buying US dollars now for 2015

ChrissyCurlz

The exchange rate for £ buying US dollars is good at the moment. Would it be a good idea to buy US dollars now for a US holiday next Spring, or should I wait in case it gets better? -If so for how long?
Is there a pattern to this at all?

Thx

phatbear

if there was a pattern we would all be millionaires.

Westin

Difficult question to answer. Could of course go either way. I however have picked up dollars recently at 1.64 for the future. I personally suspect it won't improve much more in the next few months into 2015.

19lottie82

who knows? no one has a crystal ball i'm afraid.

I can't see it making too much difference unless you're planning on taking a HUGE amount with you.

Cardew

Welcome to the forum.


The best brains in the City and Wall Street, with access to every scrap of information available, have no idea which way the exchange rate will go in the future.


Personally I think the exchange rate will either go up, or down, if it doesn't stay at the current rate!

photome

I think it will get worse for a while and then shoot up again just before your holiday next year to maybe $2 to the pound..

Of course I may be wrong

Backbiter

The best time to buy currency is when the rate is at its most favourable. This is always right before the rate drops. You can't go wrong if you buy it then. If you wait until it drops you won't get as good a rate as you would have if you'd bought before the drop.
The pros who've made fortunes on the currency markets all agree with me on this.

jackieblack

ChrissyCurlz wrote: »

The exchange rate for £ buying US dollars is good at the moment.

Interesting definition of 'good' :rotfl:

We're off to the USA next week, we've been once or twice a year for the last 9 years and, unless it picks up a bit in the next few days, the rate now is amongst the poorest we'll have ever had.

(2007 was a good year, I bought enough $ at $2.00+/£1 to see us through the next few visits )

phatbear

jackieblack wrote: »

We're off to the USA next week, we've been once or twice a year for the last 9 years and, unless it picks up a bit in the next few days, the rate now is amongst the poorest we'll have ever had.

You must have been lucky then over the past 7 years of going to the states at least once a year we have seen $2 to the £1 and then all the way down to $1.40 (trading) in 2009.

Ive come to accept $1.60 to the £ as about a happy'ish place, however i would be far happier with $2 to the £1 of course

photome

phatbear wrote: »

You must have been lucky then over the past 7 years of going to the states at least once a year we have seen $2 to the £1 and then all the way down to $1.40 (trading) in 2009.

Ive come to accept $1.60 to the £ as about a happy'ish place, however i would be far happier with $2 to the £1 of course

I have seen it at $2 to the pound only once (about 07) in last 16 years but have seen it as low as 1.3 (in 08), agree that 1.6 is fairly average.

It hasnt been above 1.75 since 2008

meer53

We've been a few times too. 2007 was a particularly good year wasn't it ? I agree that anything over 1.60 is good. Does it really matter though ? The price is what it is, you have to take your chances.