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

funkyfin2000

sorry my rubbish spelling!

meant crown currency exchange!

glenandemm

not really doing much today,is there anything else that might make it go up or down today?

haziec

glenandemm wrote: »

not really doing much today,is there anything else that might make it go up or down today?

I was just hoping that ! Really don't know what to do, we are going end March, I have got a Fairfx card which I will load when it reaches 1.50, I don't want to risk waiting higher than that. But on the other hand...............!!

inspector_monkfish

NEW YORK, Feb 10 (Reuters) - The dollar and yen firmed on
Tuesday as investors turned cautious ahead of the U.S.
government's announcement of a widely anticipated plan to shore
up its beleaguered banking sector.

Market participants were worried the bank rescue package,
aimed at helping banks off-load their "toxic assets" and boost
capital, may not be enough to ease the impact of the credit
crisis. They were generally wary of making large bets before
the outlines of the U.S. plan are unveiled by Treasury
Secretary Timothy Geithner at 11 a.m. (1600 GMT).

The Obama administration is also waiting for Congress to
work out an $800 billion-plus economic stimulus package,
although a major hurdle was cleared in the Senate on Monday.

"Investors are very skittish and we're waiting to see how
financial markets react to the U.S. bailout plan and that's why
we're seeing bids in the yen and the dollar against the euro,"
said Boris Schlossberg, director of GFT Forex in New York.

The low-yielding dollar and yen are typically viewed as
safe-haven currencies with low volatility. When stocks drop and
the risk barometer shoots up, investors repatriate funds and
close out losing risky trades funded by these two currencies.

Three sources told Reuters the bank rescue package included
a public-private partnership that could buy up to $500 billion
worth of distressed assets, with private investors able to buy
bad assets through low-cost funding from the Fed or using
Federal Deposit Insurance Corp guarantees. [ID:nWEN4160]

Markets are also awaiting Federal Reserve Chairman Ben
Bernanke, who will testify before the House Financial Services
Committee later on Tuesday on the Fed's effort to boost market
liquidity.

Analysts will look for comments from Bernanke on how the
Fed could seek to lower mortgage rates including those that
would suggest the Fed is moving closer to purchasing long-dated
Treasuries.

haziec

Thank you Inspector Monkfish.
I hope you don't mind me asking but does that mean we might get a better rate after 4pm today??
thank you very much

inspector_monkfish

HAZIEC wrote: »

Thank you Inspector Monkfish.
I hope you don't mind me asking but does that mean we might get a better rate after 4pm today??
thank you very much

it means we MIGHT get a better rate, or we MIGHT get a worse rate.....;)

neilbond007

well something has made it go down now!!

FluffyFiFi

I was so sure it was going to hit 1.50 but now it's dropping. Don't know whether I should just stop watching it and wait to see what it will be in six weeks time.

haziec

FluffyFiFi wrote: »

I was so sure it was going to hit 1.50 but now it's dropping. Don't know whether I should just stop watching it and wait to see what it will be in six weeks time.

TBH I would keep watching, otherwise if its very low in six weeks, at least you won't feel you have lost out. I'm confused myself!!

Blink_Eden

funkyfin2000 wrote: »

cornw offering a special for 1.51!!!!!

I am gonna buy £500 worth for a bit of insruance..

For delivery a week after I travel