Pound v Dollar

[OG]

Right then guys, i'm off to new york at the end of October, and obviously shopping will be a large part of what's going on out there. But question is, when should I convert my money? Does any one know if the exchange rate is going to get better or worse, as obviously it has been going up for a while?

 

[muon]

It'll be worse over there. Theres not exactly a high demand of pounds over there in exchange beureaus.

Also if possible open a nationwide flex account which gives free international withdrawals at the visa market rate rate.

http://www.corporate.visa.com/pd/consumer_services/consumer_ex_rates.jsp - Input bank fee as zero.

 

[Raymond Lin]

its been going down for the last 3 months !

Back in May it was like $1.95 to the £1, now is like $1.75.

 

[Seft]

No one on here will be able to systematically predict exchange rate movements.

 

[muon]

No one on here will be able to systematically predict exchange rate movements.

Yeh but that won't stop people who will be right, claim to be geniuses.

edit: But definitely don't convert now since you will be making a systematic loss because you can't put the US money in a savings account if capital markets are perfect i.e. futures pricing is correct.

http://en.wikipedia.org/wiki/Spot-future_parity

 

[Dist]

If people here know how the exchange rate will change in the future for sure, they could make millions on the stock market and would have better stuff to do then post on an internet forum.

 

[muon]

If people here know how the exchange rate will change in the future for sure, they could make millions on the stock market and would have better stuff to do then post on an internet forum.

I'm sure FX traders post on the internet .

 

[Ironic Namesake]

Unless you're buying a lot of currency it really won't make a huge difference if you buy now or in a few weeks time.

 

[cokecan]

when you do get it changed, I found marks & spencers to have one of the best exchange rates around a couple of months ago for dollars, plus they dont take a percentage of it like some places do

 

[neocon]

If people here know how the exchange rate will change in the future for sure, they could make millions on the FX market and would have better stuff to do then post on an internet forum.

 

[Dist]

Foreign exchange market, stocket market, whatever. You get what i mean

 

[Ironic Namesake]

when you do get it changed, I found marks & spencers to have one of the best exchange rates around a couple of months ago for dollars, plus they dont take a percentage of it like some places do

I've always found Travelex to be most competitive if you book your currency online for collection at the airport - M&S are usually second best priced I think

 

[DIABLO]

If the american rescure plan goe's ahead the dollar should drop agaisnt the pound.

 

[muon]

If the american rescure plan goe's ahead the dollar should drop agaisnt the pound.

But doesnt that depend on how the Fed funds their plan. Also, the markets should already have factored in all probabilities the best they can. What makes anyone think they can do better without inside knowledge?

 

[Ironic Namesake]

If the american rescure plan goe's ahead the dollar should drop agaisnt the pound.

I do hope the USD gets cheaper - I have to buy a lot on Monday , time will tell

 

[JBod]

If people here know how the exchange rate will change in the future for sure, they could make millions on the stock market and would have better stuff to do then post on an internet forum.

My brother posts on internet forums and he has been a trader on the foreign exchange market for 15 years

 

[Hxc]

I hope it gets worse tbh, my blogging is paid in dollars, and the more they are worth the more I get paid

 

[neocon]

I hope it gets worse tbh, my blogging is paid in dollars, and the more they are worth the more I get paid

great except when you want to use your blogging money to buy an american product.