US ($) Currency Thread 1 (closed - use thread 2)

whatusername

It isn't pretty reading but remember it's a forecast and recent forecast figures have been worse than the actual figures. Be under no illusions we as a country are in for a rocky ride and the only thing a weak pound does is make things good for home manufactured products. The industry i work in is aided by a weak currency as it aids sell the british product i produce cheaper than an imported product and we only sell in the UK.

I'm now unsure as to what will happen, i can't see the pound dropping an lower than 1.35 to the dollar, it's making a gradual fight back against the Euro as the Eurozone seem to be at best equal to us in that the economy is in a state.

Hold on to your straps guys we are in for a rocky ride.

inspector_monkfish

Bank of England cut by half from 1.50 to 1.00pct, as expected

funkyfin2000

you reckon we might be able to get 1.50 soon? just thinking of buying £1000 worth of dollars ready for April....crowcurrency currently giving 1.47 approx.

inspector_monkfish

flown through 1.4600
currently trading 1.4645

got to be a profit taking sell off soon.....

inspector_monkfish

funkyfin2000 wrote: »

you reckon we might be able to get 1.50 soon? just thinking of buying £1000 worth of dollars ready for April....crowcurrency currently giving 1.47 approx.

yes, and higher....

inspector_monkfish

1.4982 is a very important resistance level
i know its a long way off, but keep your eyes on that one....

whatusername

What is the current support level IM?

inspector_monkfish

whatusername wrote: »

What is the current support level IM?

1.4660


fallen back to 1.4605 now, but that will just be profit taking...

Denise07

Hello all
I am new to this world and this is my first post - so sorry it is a question!

I am needing to purchase USD for 28th Feb latest - I see I can buy forward at approx 1.44 - but would have to be done in the next 2 days to get delivery in time - assuming the rate stays as it is!

The big quesion without a crystal ball is should I wait to see if the rate gets better?
Respect to Inspector Monkfish and all expert views welcome.
Thanks very much

inspector_monkfish

Denise07 wrote: »

Hello all
I am new to this world and this is my first post - so sorry it is a question!

I am needing to purchase USD for 28th Feb latest - I see I can buy forward at approx 1.44 - but would have to be done in the next 2 days to get delivery in time - assuming the rate stays as it is!

The big quesion without a crystal ball is should I wait to see if the rate gets better?
Respect to Inspector Monkfish and all expert views welcome.
Thanks very much

wait as long as you can..... its going north (just my opinion)