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

Baz_2

Where is it predicted to stabilise.

If anything its going further down. Ive said before, but a interest rate cut is looking more and more likely, if that happens you can wipe another 5c off the rate. Its gone down 5c this week alone.

In the long medium to long term who knows, but short term everything points to it getting worse.

But then again, anything can happen to change that.

SCRIBES

I agree I think it will drop but not as quick as this month's drop.

Baz_2

Nice sneaky edit there.;)

Down again today another 1c.

wilto

Baz wrote: »

Nice sneaky edit there.;)

Down again today another 1c.

Going to the USA in March.

Do you recommend me getting my currency now and paying as much as I can now (i.e. car rental and hotels etc)instead of waiting.

Froggitt

Some hotels eg most in Vegas, will only take the first night as a deposit. If youre worried about further downward drift and want to lock in rates today, dont buy for today, buy thru someone like CCE for March delivery....currently 3c better than todays rate.

thela1

Going to NYC in November. I've already got $550 exchanged, but I'm going to need loads more. Should I buy it now or wait and see if the £ recovers a bit?

Any advice (in lehmann's terms!) appreciated!

jetskidia

thela1 wrote: »

Should I buy it now or wait and see if the £ recovers a bit?

If I was you i'd wait til 3pm on the 4th Oct as the rate is going to be £1 to $1.98;)

Baz_2

Sorry guys, no one can tell you what to do.

Ignore jetskidia he is having a laugh with you.

My opinion would be, if you are going soon, within the next couple of months or so, then maybe think about exchanging now. The economy here is getting worse, interest rates look like they are going to drop, inflation is on the rise and all of that could lead to a drop in exchange rates. It was all of that over in the states than led to the good exchange rates for us, now its levelling off as the UK economy is starting to mirror the US and the rate is coming back to what it was.

The exchange rate before all of this downturn in the US was 1.66. So if it levels back to exactly how it was that's the number being predicted.

If your going after that into next year then its any ones guess. Anything could happen. Its too far for the pro's to even give an opinion. Its guess work.

But if you take financial advice for a random guy on the internet then you deserve all you get really. I fixed in and bought my £1000 worth when it was 1.88 and I got 1.84. Im glad I did as rates online will be down to 1.79 come monday if not already. I decide that I would be more gutted if it went to 1.76 and I didnt exchange than I would be if it went back up to 1.96 and I did exchange. I had already lost £80, I didnt want to lose another £80 to make it £160.

Up to you.

Daventry_2

love_potion wrote: »

If anyone looking to buy US$ at the moment is based in London, I really recommend the tourist tat shops on Oxford Street. I was window shopping last week and when the best exchange rate online was at 1.88, I found 1.96 in one of these shops. There are several close to Marble Arch and a few more closer to Tottenham Court Road tube- bit of a hassle to go into them all, but you might get a bargain!

Hi!

I'm going to New York next week and need to exchange some dollars. Are those tourist shops reliable? I've seen one in Piccadilly Circus that sells 100$ for 49£. My main concern is that they might give you fake notes...

Thanks.

jinkssick

Haha. Best place is thomas global exchange, theres one in the Strand and in Victoria, London that is.