USD

[Exigeowner]

I have not seen much on here lately about the USD vs Sterling, as there are some city types and people more in the know than me on here some thoughts on future short term 3 - 6 months of the USD.

I have a very large amount of USD sitting in my account against orders supplied using costings of 2 to 1, now its moved to about 1.5 I am very very much dollars in.

Its my risk I know but what would the feeling be , trade now or wait, If I wait maybe I am being a little greedy or wait and possibly lose what is a nice unexpected bonus.

Also when changing should I be contacting a whole host of banks and trying to play them off against each other or is that something they would not even entertain ?

[shadowninja]

This topic comes up once a fortnight!

[Exigeowner]

It sure does but the USD is doing a hell of alot in the space of 2 weeks and as its a seven figure sum that needs changing it has maximum relevance to me as of today, thanks

[ytrebil]

I have no ties with the monetary markets but here’s my take on it...

It’s kind of ironic isn’t it? The US having the biggest hand in causing global recession and yet the USD is currently one of the strongest currencies in the world whilst we’re seeing the Euro and more so the GBP struggling! Then again, you only have to look at the oil price today and then going back only what, 3 months ago and everyone worried that we’re going to run out of oil! Predictions of 250+ dollars a barrel by the year end didn’t seem out of the question.

The US maybe the reason we’re in a recession (their banks handing out money like it’s going out of fashion to people who can’t afford to pay it back). However, people realise that Europe is suffering as a direct result and comparatively, the US should come out of it stronger and as a world leader out of a recession. The main reason why the USD stays strong relative to our home currencies at least is because most of the world’s trades are done in US dollars as it’s the biggest reserve currency. So, whilst we’re heading for tough times I think the USD is the safest currency to be holding (even world governments know this, hence the reserves). Once we’re out of the gloom, other currencies will pick up again when individual economies grow back to levels we’ve seen over the last few years and beyond.

[tricky69]

for what it is worth i am a currency trader and as far as the short term goes we are sitting on our hands for the most part. But if you want my view 1.46 is the level... although there are some figures out this week and next which could effect that (poor us figures expect might cause it to level out) view of the rest of the traders is mostly bearish looking at levels closer to 1.40

But if i were you exchange some of it now then leave an order to move the rest at once it hits either side of a range say 1.42/1.52...