Worth buying some Dollars?
Discussion
Yes, it is worth itif you are goin to need to use them in the next few months.
Do you ave a USD account to deposit them in, though? If not, then the 4% after tax that you would have been earning on your pounds is lost. That means that if you keep them for a year, you realy only bought them at $1.92 to the pound.
I have quite a lot of my assets in USD now, and think it makes more sense than keeping it in GBP, but there is nothingto say that it cannot go further, so please think carefully before you do it.
Do you ave a USD account to deposit them in, though? If not, then the 4% after tax that you would have been earning on your pounds is lost. That means that if you keep them for a year, you realy only bought them at $1.92 to the pound.
I have quite a lot of my assets in USD now, and think it makes more sense than keeping it in GBP, but there is nothingto say that it cannot go further, so please think carefully before you do it.
Leftie said:
I bought my holiday money about 6 months ago at $1.95, and the dollar continued to rise to $2.0. Tt has fallen back to what I paid now, but I was happy at $1.95. To make any real money you have to buy vast amounts and get accesss to the market rates not the tourist rates s I did.
True. NorthernBoy said:
Yes, it is worth itif you are goin to need to use them in the next few months.
Do you ave a USD account to deposit them in, though? If not, then the 4% after tax that you would have been earning on your pounds is lost. That means that if you keep them for a year, you realy only bought them at $1.92 to the pound.
I have quite a lot of my assets in USD now, and think it makes more sense than keeping it in GBP, but there is nothingto say that it cannot go further, so please think carefully before you do it.
just assets or some cash? I constantly have to shift money arounds friends in the US as Im not allowed an account of my owne...or do you have some limited US citizenship or know a way of getting an account? WOuld be v useful knowledge!Do you ave a USD account to deposit them in, though? If not, then the 4% after tax that you would have been earning on your pounds is lost. That means that if you keep them for a year, you realy only bought them at $1.92 to the pound.
I have quite a lot of my assets in USD now, and think it makes more sense than keeping it in GBP, but there is nothingto say that it cannot go further, so please think carefully before you do it.
OP buying dollars does seem tempting doesn't it? Prob only worth it if you're gonna get a few hundred K's worth mind...
just setting up a LloydsTSB USD account to deposit the conversion proceeds from a deposit with this conversion company:
http://www.customhouse.com
-can get virtually the market rate
...has anyone used them before?
think i should check them out with companies house before forwarding an large lolly.
http://www.customhouse.com
-can get virtually the market rate
...has anyone used them before?
think i should check them out with companies house before forwarding an large lolly.
Nightmare said:
NorthernBoy said:
Yes, it is worth itif you are goin to need to use them in the next few months.
Do you ave a USD account to deposit them in, though? If not, then the 4% after tax that you would have been earning on your pounds is lost. That means that if you keep them for a year, you realy only bought them at $1.92 to the pound.
I have quite a lot of my assets in USD now, and think it makes more sense than keeping it in GBP, but there is nothingto say that it cannot go further, so please think carefully before you do it.
just assets or some cash? I constantly have to shift money arounds friends in the US as Im not allowed an account of my owne...or do you have some limited US citizenship or know a way of getting an account? WOuld be v useful knowledge!Do you ave a USD account to deposit them in, though? If not, then the 4% after tax that you would have been earning on your pounds is lost. That means that if you keep them for a year, you realy only bought them at $1.92 to the pound.
I have quite a lot of my assets in USD now, and think it makes more sense than keeping it in GBP, but there is nothingto say that it cannot go further, so please think carefully before you do it.
OP buying dollars does seem tempting doesn't it? Prob only worth it if you're gonna get a few hundred K's worth mind...
I did work over there for a while, and so was able to get my cards sent to the office. If you have a friend over there who can act as your postal address (get online statements, so no worries on that front), then all you need him to do is to forward you your cards. I have never been into my US branch, and have had the account for a few yeas now.
LeoSayer said:
To make it more interesting, find a US company you like and buy their shares - hey presto instant currency AND market risk.
Apple's a good one but i'd have recommended about a week ago but it's still probably a good time to get in. The only issue is the way things are currently going the currency is working against you as the dollar is weakening. If you're willing to hold for longer (a year or more) and the dollar will eventually strengthen then it'll be worth it as you can make money on the currency and hopefully on the share moving up in price. LeoSayer said:
To make it more interesting, find a US company you like and buy their shares - hey presto instant currency AND market risk.
That tends to be a better idea than sticking the money on depoit, at 0.25% interest, less tax. I'd just be a bit boring here, and point out, again that money invested into single stocks needs to be cash that you can afford to lose, rather than your entire pension fund.
NorthernBoy said:
LeoSayer said:
To make it more interesting, find a US company you like and buy their shares - hey presto instant currency AND market risk.
That tends to be a better idea than sticking the money on depoit, at 0.25% interest, less tax. I'd just be a bit boring here, and point out, again that money invested into single stocks needs to be cash that you can afford to lose, rather than your entire pension fund.
Daimeydum said:
This may well have been asked before...
Ok so the dollar is at the twenty something year low. So for those in the know, is it worth me buying a few K and if not why not?
Cheers
Only if you have a USD account and trade the Sterling through a proper physical FX house.Ok so the dollar is at the twenty something year low. So for those in the know, is it worth me buying a few K and if not why not?
Cheers
If you are taking cash delivery then it's a waste, if you are using a bank or BDC then that is also a waste.
On top of this, you would only swap currency that you expected to spend in the next 24 months.
Daimeydum said:
What about buying US property?
Any ideas?
I also wondered about buying diamonds form the US is there mileage in this?
US property prices could well be a bit volatile for the forseable future.Any ideas?
I also wondered about buying diamonds form the US is there mileage in this?
Buying USD - depends for what and for how long you want to keep the USD.
For small scale, short term speculating there are plenty of companies offering tight spreads even for a couple of k. By tight I mean 2.0500/2.0506 as a two way price, but the daily roll will cost you bid/ask which adds up over time. You can also do 3 month future equivalents, but these trade a bit wider as the real futures don't trade in such small sizes.
If you want physical USD to put in a USD account somewhere, spreads are likely to be more in the 2.0500/2.0530 two way region and some kick you with a 10-15 pound transfer fee on one side which makes the above spread on say 5k USD a whole lot wider i.e. 10 pound charge for 5k usd is roughly equivalent to adding 0.0040 pips I think.
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