US Dollar

[MPalmer]

Off to the states in 3 weeks and see the exchange rate has nose dived again to 1.24!

Do we think there is likely to be a bounce back in the coming days or am I best to jump in now and change asap?

[marky1]

No one has a clue. It's too volatile to predict where it's going to be in a few weeks.

[davepoth]

MPalmer said:

Off to the states in 3 weeks and see the exchange rate has nose dived again to 1.24!

Do we think there is likely to be a bounce back in the coming days or am I best to jump in now and change asap?

If you won't get stung in fixed charges I'd think about buying some now and some later.

[Ozzie Osmond]

Bought some from M&S at £1.22 yesterday, because I'm concerned it might get even worse. Ouch!

NB. The retail rates are usually lower than official exchange rates. I usually buy currency from either M&S or the Post Office, both of which seem to offer reasonable retail rates.

[Dejay1788]

Ouch! Glad we went to the States in May now, the rate is shocking.

[spikedjack]

Next thing in my oppinion to influence it will be the US election in around a months time

I bought around 3 weeks ago at 1.30 and really glad i did

As above, if we knew, we would all be very wealthy

[fellatthefirst]

The rate at the moment has Clinton built in as being the next president. Generally speaking the feeling is that if Trump gets in the USD will weaken initially which will be good for buying USD. Got to wait untill November 8th to see if that happens though.

[HOGEPH]

I usually go to the States in September, the poor dollar rate actually put me off, and I went elsewhere.

The worst I've had it in the past was 1.33 and that made things very expensive....

[irocfan]

I was discussing this with Mrs Iroc t'other day... is it that the US is now 'expensive' or is it that the US has traditionally been quite cheap and prices are now more in line with what we see in Europe or SE England/London?

[toon10]

We went in August and hung on for a better rate that didn't happen. 1.31 when we looked at first which went to 1.29 when we bought.

It was 1.61 the last time I went to the States!

[jeff m2]

The Dollar Sterling rate has been caused by Brexit and the uncertainty of what deal UK will be able to negotiate.

The Dollar has strengthen a little against the currency basket, but not to the extent that can cause this massive rate change.
Read the thread regarding the Indonesian Rupiah.

So decisions on Dollar purchases would be better made using the progress of UK as a Sovereign country outside of Europe than something like the US election.

However a Fed rate hike in November would put further pressure on the Pound. This rate increase is overdue and has to happen sometime.
Delayed politically IMO.

[giger]

I've hedged my bests, and bought now for my trip in 3 weeks. I ordered from Tesco yesterday (£1/$1.20) to collect in 2 weeks. You get the benefit of the rate at the time you order but can cancel 24 hours before collection if the rate is now better, and buy them at the better rate.

[Ozzie Osmond]

giger said:

I've hedged my bests, and bought now for my trip in 3 weeks. I ordered from Tesco yesterday (£1/$1.20) to collect in 2 weeks. You get the benefit of the rate at the time you order but can cancel 24 hours before collection if the rate is now better, and buy them at the better rate.

So when do you pay? With initial order or before collection?

[cashmax]

Ozzie Osmond said:

giger said:

I've hedged my bests, and bought now for my trip in 3 weeks. I ordered from Tesco yesterday (£1/$1.20) to collect in 2 weeks. You get the benefit of the rate at the time you order but can cancel 24 hours before collection if the rate is now better, and buy them at the better rate.

So when do you pay? With initial order or before collection?

Hmmmm, I wonder just how much currency you can order on these terms.....

Edited to say - £2500 max. Cancellation terms below.

Orders for Collection

If you placed an order for collection, this order can be cancelled at any time prior to collection by calling customer services on 0345 366 0103* or by email on [e-mail].

Cancelled orders will be refunded with the full Sterling amount that you paid for your travel money order less a £10 late cancellation fee if you cancel your order less than 24 hours in advance of the collection time. We are unable to refund any fees charged to you by your card issuer so please contact them if you have further queries.

If you have placed an order for collection and you fail to collect your order from the nominated Tesco’s Travel Money Bureau within 4 days of the collection time then your order will be marked as uncollected and will be treated in the same way as a cancellation made less than 24 hours in advance of the collection time.

• Calls to this number may be included as part of any inclusive call minutes provided by your phone operator.

Edited by cashmax on Thursday 13th October 17:09

[Sheepshanks]

I'm going soon too, and regretting choosing the "pay on arrival" option for the hire car.

[walm]

Can I thoroughly recommend the app: Revolut.
https://revolut.com/

I used it extensively while in the states in August.
Gives you the REAL exchange rate, none of this retail rubbish. You get to choose when you exchange into $ and then work down the balance by using their Mastercard.
And was the cheapest way to take out cash from ATMs too.