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

inspector_monkfish

ratkarth wrote: »

http://www.investorschronicle.co.uk/InvestmentGuides/Derivatives/article/20090225/544e37d8-0315-11de-a6db-00144f2af8e8/How-to-bet-on-the-dollars-strength.jsp

indeed, its seen as a 'safe-haven' in times of trouble...

inspector_monkfish

16:42 25Feb09 -GBP/USD: Supply, Stops, USD Combining to Hurt Sterling

16:42 GBP/USD: Supply, Stops, USD Combining to Hurt Sterling] Boston, February 25th.

It's been a rough day for sterling. Big supply this morning ended up tripping stops in the original drop from 1.4600 following the UK GDP figures this morning. The market then hit resistance in the 1.4425 area on an attempt to bounce after the initial leg lower, so now we"re staring at prices in the 1.42s.

Yes, this is partly a USD story. In fact, much of the most recent drops in
cable are related to greenback strength on the back of another tough day in the
stock market. As the rise in EUR/GBP and the fall in GBP/JPY both attest, though,
weakness in sterling is just as much to blame here. In fact, given that we aren"t really looking at a strong flight to quality day (Treasuries are down in price, oil is up, gold is only modestly higher) we'd argue that it probably makes the
most sense to focus on the GBP this afternoon. So far it"s giving all indication
of wanting to keep softening.

Outgoing BoE MPC member David Blanchflower is slated to speak in Stirling, Scotland, at 17:30GMT. Blanchflower, who will attend three more MPC meetings before his May 31 exit from the committee, wanted to cut UK Bank Rate by 100bp to 0.5% earlier this month (Feb 5).

mrnomoneybags

yozzer2006 wrote: »

TMS are giving $1.4950 for travel between 12/05/09 - 25/07/09. I suppose you could hedge your bets and buy some dollars from them?

What is TMS?

yozzer2006

Tomlewis007 wrote: »

What is TMS?

Travel Money Services.

yozzer2006

Doh! TMS have dropped to $1.47 now. :mad: Should have followed my own advice earlier and bought some!

neilbond007

well it's still hovering around 1.42... when i saw the news about RBS i thought it would be crapsville

jonathanrichardson69

me too, i was expecting it to nose dive, its actually up a little today. fingers crossed!!!! it will shoot back up

poggs

neilbond007 wrote: »

well it's still hovering around 1.42... when i saw the news about RBS i thought it would be crapsville

Nah. RBS shares up 30% on the news. Markets were expecting far worse and had priced that in. Doesn't seem to be affecting the pound though. Seems to be starting as a steady day. Pity, we need a 30% gain in the pound as well

jonathanrichardson69

definately. 30% would be very handy for my trip. 1 cent per week until i go would be good, it would then pass the 1.5 mark.

neilbond007

poggs wrote: »

Nah. RBS shares up 30% on the news. Markets were expecting far worse and had priced that in. Doesn't seem to be affecting the pound though. Seems to be starting as a steady day. Pity, we need a 30% gain in the pound as well

well that's a relief!
where's the fishman today? extra large pimms for breakfast?