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

veggie4life

disney_cjd wrote: »

i am no expert bnut I think it will get worse when the BoE drops the base rate this week so I wodl so do it.

this is likely to have been factored into the market though.

Most economists agree that whilst the GBP is not a safe investment it is currently undervalued against the dollar and will eventually rebound to around 1.55 at the least.

gmoczulski

Does anybody know if the drop in the interest rate this week will have a major effect on the strength of sterling vs usd. I am leaving for USA in april and currently have £2000 to change up, with a further amount like this coming in closer to the time. Wise to do it now befoer the interest rate drop?

Thanks

Baz_2

gmoczulski wrote: »

Does anybody know if the drop in the interest rate this week will have a major effect on the strength of sterling vs usd. I am leaving for USA in april and currently have £2000 to change up, with a further amount like this coming in closer to the time. Wise to do it now befoer the interest rate drop?

Thanks

It wont have nay effect at all unless the drop is greater than expected. If its 0.5% or even 1% it wont change significantly, if it goes up or goes to 0 this week then I would say it would be effected.

The markets have already factored into the current price any expected changes so as long as those changes are as expected the price won't alter at all.

vegasvisitor

I read somewhere that the expected 1% drop will further devalue the £. This would follow what has happened at previous drops.

It's all disappointing to me. No mortgage and I enjoy my holidays, so it's actually affecting me more than I thought a recession would!

Hope it recovers soon. I want to book something for early summber for Europe but I don't fancy doing one euro to the pound!

gmoczulski

any idea if the pound will be stronger closer to april? x

veggie4life

:rolleyes: I wonder how many people dare to have a look at he first post and the most recent posts before asking a question in this thread.

Christa1

$ down to 1.38 in the bank today- frightening really. We are due to go in early July but I am now thinking of cancelling and accepting some loss on the flights I have booked.

ahrimaniac

Oh why cancel - it does not make that much difference!

veggie4life

upto $1.52 for inter bank - Shall be buying tomorrow

PandaPants_2

$1.45 with Caxton. I have never found anywhere that beats their rate.