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Us $
Wisespender
Posts: 24 Forumite
As everyone or many will be aware the dollar to pound exchange is very much in our favour....I thought about gettting proper money advice and buying shares in American companies but I also thought what of buying currency and sitting on it. Anyone got any thoughts?
0
Comments
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long term - yes
short term - no as it's likely to get worse before it gets better.0 -
Buying USD may well be a good idea, but it depends on a couple of factors:-
1. You need to buy a large amount to make it worthwhile
2. What will you do with the USD? Most USD accounts in the UK offer no interest, and having it parked in a US account will earn you very little interest compared to accounts being offered today in the UK.
3. You'll need to use FX rather than travel rates to get the best deal.
4. Obviously the investment may go up or down, so you need to be prepared to risk the capital - as the previous poster said, it will probably get worse before it gets better :cool:Savings - £18,500 @ 5.22% Average0 -
The Telegraph had an interesting article on ways to benefit from the low value of the US$.
How to profit from thw weak dollar.In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0
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