Whats the view on the dollar rate?

[Gunny Sergeant D]

Hi all, I might be buying a house soon and so will need to repatriate some cash. Where is the $ going any ideas? The trend is in the wrong direction at the mo.

[cjs]

I reckon the £ bottomed out when it went below 1.40 to the $ a few weeks back. It is now hovering around 1.47.

The recent interest rate cut to 1% has already been factored in and I reckon it is highly unlikely there will be any further rate cuts. Darling more or less said so on TV yesterday.

So my prediction is the £ will gradually creep up against the $, will probably stabilise around 1.6.

There again what do I know! If the UK economy gets worse who knows what could happen to the pound!

[Gunny Sergeant D]

I need 1.36 again and then it can go back to 1.6 thanks.

[edwardsje]

cjs said:

I reckon the £ bottomed out when it went below 1.40 to the $ a few weeks back. It is now hovering around 1.47.

The recent interest rate cut to 1% has already been factored in and I reckon it is highly unlikely there will be any further rate cuts. Darling more or less said so on TV yesterday.

So my prediction is the £ will gradually creep up against the $, will probably stabilise around 1.6.

There again what do I know! If the UK economy gets worse who knows what could happen to the pound!