USD to GBP (update)

UKresident1234

I posted few weeks back .. situation has moved on.. I am from UK and bank in gbp with natwest in UK -  I have a 6 figure sum from US in USD now arrived in WISE - not comfortable having it sit there, have no clue about currencies BUT noticed how USD to GBP  is at 90 day low at 0.77 even if it went to 0.78 makes quite difference from 0.77  - Question: Should I be patient and wait to send in to Natwest when there is a slight USD to GBP  rise (maybe Trump cancels some tarrifs?) or the budget mar 26th is bad news forgbp? Literally I have no clue. Plan  with the money is I want to get ISA asap and Invest the rest of the amount. Thanks.

tetrarch

The bad news is that you have no idea which way the $/£ is going to go. The good news is that nobody else knows either!

It's one of those decisions that whatever you decide will be wrong. Your motive to put some of these assets into a perfoming tax-efficient asset is a good one.

If you don't need the money at the moment why not FX transfer just the £20K across and see what happens with the rest.

I'm in the same boat as you, but my money is in a US bank account so I have the comfort of knowing that my deposit is FDIC protected

Regards

Tet

subjecttocontract

I have a similar issue with 6 figures in Euros. I use Currencies Direct who offer a few options :-.......
* Exchange on the day of your choice.
* Limit Order.....you can agree a target exchange rate, if and when it hits that rate they will transfer automatically.
* Forward Contract.....ie the equivalent of buy now, pay later for up to a year.

jimjames

At least in Euros you've benefitted from a drop in last weeks. Had deposit returned for car hire paid in Euros and got back more than I'd paid for it

wmb194

UKresident1234 said:

I posted few weeks back .. situation has moved on.. I am from UK and bank in gbp with natwest in UK -  I have a 6 figure sum from US in USD now arrived in WISE - not comfortable having it sit there, have no clue about currencies BUT noticed how USD to GBP  is at 90 day low at 0.77 even if it went to 0.78 makes quite difference from 0.77  - Question: Should I be patient and wait to send in to Natwest when there is a slight USD to GBP  rise (maybe Trump cancels some tarrifs?) or the budget mar 26th is bad news forgbp? Literally I have no clue. Plan  with the money is I want to get ISA asap and Invest the rest of the amount. Thanks.

It doesn’t have to be all or nothing. You could convert the money in batches over days or weeks and average it out. 

If you don't want to 'bank' on Wise - quite a big, profitable company now though - there's an, "interest" option where your money is placed in a large Blackrock money market type fund.

Sam_666

Wise is not a bank, so money is at 100% risk. Big, profitable companies go bust every day.
If you dont need money NOW, move it to USD account with reputable bank, then you can try to time fx rates.

UKresident1234

thanks everyone