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Do I hold onto USD or convert them know into GBP before it drops further?
Comments
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If we knew the answer to your question we'd all be rich.2
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wmb194 said:Hoenir said:wmb194 said: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
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These probably aren't the forums for currency trading tips, but more relevant is making sure your $35K is earning a good interest rate - that will probably make more difference so if converting it means you can take advantage of better interest sooner then it's worth considering.0
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Hoenir said:wmb194 said:Hoenir said:wmb194 said: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
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wmb194 said:Hoenir said:wmb194 said:Hoenir said:wmb194 said: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
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Hoenir said:wmb194 said:Hoenir said:wmb194 said:Hoenir said:wmb194 said: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
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wmb194 said:Hoenir said:wmb194 said:Hoenir said:wmb194 said:Hoenir said:wmb194 said: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.
The answer seemed to be that in times of trouble ( with the US/Dollar in this case) the Euro was seen as more 'secure', and traditionally GBP suffered in times of economic turmoil and did well in better times
Interestingly as things have calmed down a bit, the Pound has regained some of the losses against the Euro.0 -
Albermarle said:wmb194 said:Hoenir said:wmb194 said:Hoenir said:wmb194 said:Hoenir said:wmb194 said: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.
The answer seemed to be that in times of trouble ( with the US/Dollar in this case) the Euro was seen as more 'secure', and traditionally GBP suffered in times of economic turmoil and did well in better times
Interestingly as things have calmed down a bit, the Pound has regained some of the losses against the Euro.0 -
Hoenir said:wmb194 said:Hoenir said:wmb194 said:Hoenir said:wmb194 said: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.
US deals with India and China will follow, not sure the EU tactic of WTO legal appeals will do them any favours with the White House incumbent.
but that's veering into politics…
Ref the $35K, I think the suggestion above is good, make sure it's working for you with interest earning power, whatever currency it's held in.0
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