MSE News: Pound falls after election result - should you buy euros or dollars now?

Former_MSE_Steve_1

The pound has dropped following yesterday's general election, as a hung Parliament causes uncertainty on the currency markets.......

Read the full story:
'Pound falls after election result - should you buy euros or dollars now?'

Click reply below to discuss. If you haven’t already, join the forum to reply.

gettingtheresometime

We're going away in December & have decided to put money away each month onto the Revolut card, exchanging it into US$.

We've done this for the past 2 months where the rate hasn't been much different but it will be interesting to see next months rate lol

leylandsunaddict

We only ever use a Clarity card so we'll take whatever the rate is at the time. It's not that low yet, and it could go up or down so I can't see the point of going out buying currency. If it drops throught the floor it's not a huge deal. The holiday just ends up costing a bit more.

richardw

Coming soon 'Pound strengthens after Mrs May resigns, should I buy euros or dollars now or wait to see if X is the new PM, or if there's a general election or.....'

PeacefulWaters

I'm gutted this happened while I'm in the USA.

My motel room cost me an extra £1 last night as a result.

sillygoose

Was sat there Friday night thinking why didn't I press the buy button before 10pm.

But to be less hard on myself, even the last mori poll before the election had the Conservatives up for a strong majority and so did the bookies, so I expected the pound to jump Friday morning with uncertainty over.

So hanging on a bit now to see if the Tory/UDP deal holds or if further uncertainty is inevitable.

PeacefulWaters

sillygoose wrote: »

Was sat there Friday night thinking why didn't I press the buy button before 10pm.

But to be less hard on myself, even the last mori poll before the election had the Conservatives up for a strong majority and so did the bookies, so I expected the pound to jump Friday morning with uncertainty over.

So hanging on a bit now to see if the Tory/UDP deal holds or if further uncertainty is inevitable.

There'll be another general election within a year. Too many unstable variables from wobbly "coalition" to backstabbing within the Conservative Party for there not to be.

Uncertainty until that point is the only certainty.

iltisman

I was suspicious on Thursday as I saw so many young people going into my polling station so I bought $1500 Dollars for my winter tip to the US.
I now worry that another general election might put Mr Corbyn in government and I don't think the ESTA agreement would survive long.

phillw

sillygoose wrote: »

But to be less hard on myself, even the last mori poll before the election had the Conservatives up for a strong majority and so did the bookies, so I expected the pound to jump Friday morning with uncertainty over.

I thought it would go better for Labour than everyone was predicting, but I don't have money to waste on gambling.

It would have been better if Labour had gained a few more seats, so the DUP deal would have not been hanging over us. I've lost all faith in May's ability to lead.