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

veggie4life

Christa1 wrote: »

Actually it makes a huge difference- there are me hubby and two kids( although 19/23 in age) so whilst they don't mind sharing a room don't want to all the time, we are planning to fly drivie around California. When I was in NY last April £3000 got me $6000, now it will only get me $4500.00 at best, so when you have rooms and food to pay for for us anyway it makes a big differnce. With the BoE reducing it's rate again today wonder how this will affect the exchange rate?

If anything the rate cut will help exchange rates. Investors were worried that the cut may be greater than 0.5% and as a consequence of it only being a half percent it has added a little confidence in the markets. The pound isn't looking as bad as it was to investors now. It has also broken the $1.52 barrier that many said would be its biggest obstacle. Now that it has managed this some bankers are saying that it is free to hit $1.66 within a few months.

steveo3002

just got my delivery as promised from crown currency , no problems at all and very good service

good mixture of notes and no 100s as requested

inspector_monkfish

veggie4life wrote: »

If anything the rate cut will help exchange rates. Investors were worried that the cut may be greater than 0.5% and as a consequence of it only being a half percent it has added a little confidence in the markets. The pound isn't looking as bad as it was to investors now. It has also broken the $1.52 barrier that many said would be its biggest obstacle. Now that it has managed this some bankers are saying that it is free to hit $1.66 within a few months.

well, lets hope so, it hasn't had a good time so far this week, down at 1.4510 at the moment :rolleyes:

jackieblack

Crown Currency Exhange are currently offering 1.4999 for delivery between 1/4 -14/6 and $1.5199 for deliver between 15/6 - 3/8.

Is this an indication that they anticipate the rate will rise or am I being naively optimistic?:o

veggie4life

inspector_monkfish wrote: »

well, lets hope so, it hasn't had a good time so far this week, down at 1.4510 at the moment :rolleyes:

yup and it may go down even further when Obama is sworn in but in a few month its likely to climb.

glenandemm

veggie4life wrote: »

yup and it may go down even further when Obama is sworn in but in a few month its likely to climb.

do you mean the pound or dollar when you say it may go down further and can i ask why obama being sworn in would affect the currency?

gordylad

it wont affect the currency. At this stage it is very difficult to predicy how the pound will do against the dollar in the coming months. Even the experts are struggling to come up with advice.

veggie4life

glenandemm wrote: »

do you mean the pound or dollar when you say it may go down further and can i ask why obama being sworn in would affect the currency?

The dollar may go up marginally against the pound as a temporary result of peoples confidence in Obama but this is likely to subside very quickly!

gordylad

Any strength in the dollar has already been margined into he rate due to Obama winning the election a few months ago. When he goes into power it will have no difference to the actual rate as the state of the economy drives this. In otherwards unless he is a magician then done expect too much in the short term.

veggie4life

gordylad wrote: »

Any strength in the dollar has already been margined into he rate due to Obama winning the election a few months ago. When he goes into power it will have no difference to the actual rate as the state of the economy drives this. In otherwards unless he is a magician then done expect too much in the short term.

I would stand by my original post but like I said any change is likely to be marginal.