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Do I hold onto USD or convert them know into GBP before it drops further?
1098s
Posts: 1 Newbie
I am holding 35k in USD in my bank account. I am concerned the rate against GBP is again going to continue to fall. Do I take the hit now or will the rate come about in the next 6 months.
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Comments
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That's the uncertainty that comes with speculatating in currencies. Toss a coin.0
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Do you need the money in sterling soon? The other day someone on Bloomberg said they think that sterling is far too strong at c.1.34 GBP/USD and it should weaken but FX forecasting is notoriously difficult.1098s said:I am holding 35k in USD in my bank account. I am concerned the rate against GBP is again going to continue to fall. Do I take the hit now or will the rate come about in the next 6 months.0 -
Some also suggest that it will continue to go to 1.50 or even beyond.wmb194 said:
Do you need the money in sterling soon? The other day someone on Bloomberg said they think that sterling is far too strong at c.1.34 GBP/USD and it should weaken but FX forecasting is notoriously difficult.1098s said:I am holding 35k in USD in my bank account. I am concerned the rate against GBP is again going to continue to fall. Do I take the hit now or will the rate come about in the next 6 months.
Predicting the unpredictable is usually futile.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
If investors continue to sell US $ denominated assets then the currency will continue to weaken. Nothing to suggest that there'll be any significant change of Administration policies anytime soon.wmb194 said:
Do you need the money in sterling soon? The other day someone on Bloomberg said they think that sterling is far too strong at c.1.34 GBP/USD and it should weaken but FX forecasting is notoriously difficult.1098s said:I am holding 35k in USD in my bank account. I am concerned the rate against GBP is again going to continue to fall. Do I take the hit now or will the rate come about in the next 6 months.0 -
It will continue to go to 1.50 or even beyond.
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Sell half.1
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Doesn't mean sterling strengthens. More likely the euro will.Hoenir said:
If investors continue to sell US $ denominated assets then the currency will continue to weaken. Nothing to suggest that there'll be any significant change of Administration policies anytime soon.wmb194 said:
Do you need the money in sterling soon? The other day someone on Bloomberg said they think that sterling is far too strong at c.1.34 GBP/USD and it should weaken but FX forecasting is notoriously difficult.1098s said:I am holding 35k in USD in my bank account. I am concerned the rate against GBP is again going to continue to fall. Do I take the hit now or will the rate come about in the next 6 months.0 -
If you had £35k of sterling spare today would you buy USD, probably not in any circumstances. Sell and do your normal action with the £35k.1
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My prediction is that the relevant currency pairs will continue to fluctuate. Trust me on this.1
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