Using Foreign exchange to make dosh

[zetec452]

Do you think its worth it? With £1 = $1.9 dollers surely it will come down eventually allowing for some easy money to be made.

Anybody done this?

Jon

 

[zetec452]

If you plan on visiting the states in the near future, then i would say buy some now.

I will probably be going for a couple of months in the summer so will get some dollers while they are hot.

I suppose buying 2k's worth of dollers then waiting for it go do down isn't really worth it.

 

[zetec452]

There are no guarantees whether it will go up or down. If its at an all time high then generally buying dollars now isn't a bad thing, its the amount of time you've got to hold onto them to make something back is the problem. Anything less than 20% isn't worth it for me.

Tomorrow the dollar could be pound to pound.

I'm going to the US in the summer anyway so im going grab a few dollars while the goings good.

 

[zetec452]

I'm not going to buy loads of USD as I don't have loads of money to be sat in a different currency I can't use here.

However, I was interested to see if poeple had used Foreign currency to make money.

If I was going to invest some dosh I'd probably look at an ISA or one of those higher interest accounts, maybe even property.