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

haziec

Thanks for all the advice, Inspector Monkfish.
I really feel bad as I am buying the currency for everyone going on our holiday end March. I feel I should buy if it reaches 1.50 -can you see it rocketing up much more than that in March?? Ok, I know you don't have a crystal ball LOL, but what would you and anyone else on here do in my shoes?
I don't mind if I buy at 1.50 and miss out on 1.60 but I'd kick myself if it went any higher in the next three weeks.
thanks so much for any advice

Nordictat2

Hmmmmm should I buy some USD for my trip in May or should I hold off?

inspector_monkfish

Nordictat2 wrote: »

Hmmmmm should I buy some USD for my trip in May or should I hold off?

hold off....

inspector_monkfish

HAZIEC wrote: »

Thanks for all the advice, Inspector Monkfish.
I really feel bad as I am buying the currency for everyone going on our holiday end March. I feel I should buy if it reaches 1.50 -can you see it rocketing up much more than that in March?? Ok, I know you don't have a crystal ball LOL, but what would you and anyone else on here do in my shoes?
I don't mind if I buy at 1.50 and miss out on 1.60 but I'd kick myself if it went any higher in the next three weeks.
thanks so much for any advice

its more fun to wait !!

i can't see it plummeting into the 1.30's again, and i see more chance of it hitting 1.50 and higher before you need to buy in a month's time...

jackieblack

inspector_monkfish wrote: »

on the other hand, if he does start talking a bit more upbeat, the markets will also pick up on this..... especially as its someone who is usually so negative....

True.... but likely? It seems everytime one of these 'experts' opens their mouths they talk us further down!

inspector_monkfish

jackieblack wrote: »

True.... but likely? It seems everytime one of these 'experts' opens their mouths they talk us further down!

hold on....

he's actually talking positive.....

jackieblack

inspector_monkfish wrote: »

hold on....

he's actually talking positive.....

Well, there's a thing!
Nearly fell off my chair in shock when I read that!

inspector_monkfish

09:40 24Feb09 BOE SENTANCE: GOOD GROUNDS TO EXPECT RECOVERY IN 2010
09:40 24Feb09 SENTANCE: PERSISTENT, PROLONGED DEFLATION "AN OUTSIDE RISK"
09:40 24Feb09 BOE SENTANCE: QUANTITATIVE EASING "A STEP INTO THE UNKNOWN"
09:40 24Feb09 SENTANCE: MUST HAVE CLEAR FRAMEWORK FOR QUANTITATIVE EASING
09:40 24Feb09 SENTANCE:"CONSIDERABLE" STIMULUS TO COME FROM LOW RATES, GBP
09:40 BOE Sentance: Good Grounds To Expect Recovery In 2010


LONDON--The U.K. economy has so far followed the pattern set by previous recessions, and should start to recover later this year and into 2010, a member of the Bank of England's Monetary Policy Committee said Tuesday.

The U.K. economy is in recession, having contracted by 1.5% in the fourth quarter of last year, and 0.6% in the third. It was last in recession in the early 1990s. Before that, it experienced a recession in the early 1980s, and in the mid-1970s.

In a speech to economists, Andrew Sentance said the fact that recessions are such a foreign experience for most Britons may explain why they are finding it difficult "to put the experience ... in perspective."
"That, in turn, may account for some of the more apocalyptic and hyperbolic views of the current conjuncture," he said.

Sentance argued that the path of the current recession is in line with those of previous downturns, and if that continues, a recovery should begin later this year.

"While the short-term prospect is not good and we will see further falls in output and rises in unemployment, I believe there are good grounds for expecting a recovery both here in the U.K. and in the global economy more broadly as we move through this year and into 2010," Sentance said.

The MPC has cut its key interest rate by four percentage points since early October. It now stands at 1%, the lowest level since the Bank of England was founded in 1694.
Sentance said it will take time before those cuts have their maximum impact on demand.

"It is too early yet for us to assess how far this relaxation in monetary policy is providing support for consumer spending and other elements of private sector demand," he said. "But by the middle of the year, this should be more apparent and some of the current mood of consumer pessimism associated with the onset of recession may have dissipated."

Sentance also said the weaker pound will help support U.K. exports in the face of weaker world demand. Together, lower rates and a weaker pound should ensure that there is "a considerable monetary stimulus in the pipeline."

jackieblack

inspector_monkfish wrote: »

Sentance also said the weaker pound will help support U.K. exports in the face of weaker world demand. Together, lower rates and a weaker pound should ensure that there is "a considerable monetary stimulus in the pipeline."

So he's saying the weak pound is a good thing!?!

inspector_monkfish

jackieblack wrote: »

So he's saying the weak pound is a good thing!?!

haha, yes !!

but we won't feel the benefit until a few months time, i believe is his point....