I am seriously tempted...

[srebbe64]

...to buy some US Dollars.

I'm no speculator, but a $2.07 to the Pound it surely doesn't get much better - or does it?

[LDNrevs]

srebbe64 said:

...to buy some US Dollars.

I'm no speculator, but a $2.07 to the Pound it surely doesn't get much better - or does it?

Thinking of doing the same - realistically, you'd have to buy a load for it to be worth sitting on for so long to see the return but can't hurt either.

[srebbe64]

LDNrevs said:

srebbe64 said:

...to buy some US Dollars.

I'm no speculator, but a $2.07 to the Pound it surely doesn't get much better - or does it?

Thinking of doing the same - realistically, you'd have to buy a load for it to be worth sitting on for so long to see the return but can't hurt either.

Well if the money is invested for a year, at, say, 4% and one Pound can buy, I don't know, say, $1.95 in a year, then I'm quids in! It's a punt okay!

[srebbe64]

coyft said:

What makes you think it will be more valuable in the future?

Nothing, that's why I haven't bought any yet! What makes you think the Dollar will weaken further?

[g4ry13]

coyft said:

I suspect the trend will continue, for no other reason than that's what trends tend to do.

Till they bend...

If fed cuts tomorrow, you may see some further weakness - especially if they go for a 50bps cut which will turn things on its head.

Edited by g4ry13 on Wednesday 31st October 01:12

[gumshoe]

srebbe64 said:

...to buy some US Dollars.

I'm no speculator, but a $2.07 to the Pound it surely doesn't get much better - or does it?

Well, tomorrow will answer some of your questions.

I think Fed will cut over the period of 6 months to 4% if not slightly less. If anything you should look to buy on retrace.

That said, I've currently sold GBP to buy USD, waiting for a slight retrace assuming tomorrow is only the expected .25 cut (its so widely known its priced in).

[g4ry13]

gumshoe said:

That said, I've currently sold GBP to buy USD, waiting for a slight retrace assuming tomorrow is only the expected .25 cut (its so widely known its priced in).

Not known - expected you mean.

It's a pretty bold move to be shorting at the moment especially considering that more surprises could come along today. Looking at it now i'd personally rather be short on USD/JPY for today/tomorrow given the choice.

Edited by g4ry13 on Wednesday 31st October 10:16

[996 Turbo]

Okay slightly off topic I know. But, I've got a trip to the states coming-up when I get back what's the best place to turn my left-over dollars into pounds? Or, would I be better changing them back in the US?

I checked the post-office and although you get a good rate for pound to dollars conversions the other way is a complete rip-off. Using their on-line calculator I got the following :-

£1000 -> $1950 and then $1950 -> £866

I could just use my credit card but I then get charged a fee per transaction of between £1.50 to £4, PLUS 2.65% of the amount, PLUS an unspecifed exchange rate. Any advice?

Rdgs, Steve