GBP versus USD

Seems to be in freefall at the moment .... down to $ 1.52 today

Am starting to get a bit worried now [n]

[Darren Wheeler]

Uncertainty about Europe's (esp Greece) level of national debt is causing investors to seek the security of the greenback. It's still no where near it's 12-month low of 1.37 and about where it was in June 2010. There is talk of China selling its Dollar reserves of some $900bn. If that happens, the market for dollars will collapse and all other currencies are likley to rise. Not a good way to do it though.

Having said that, $2=1 would be very nice indeed. [:D]

Oh I remember one trip to the US with an almost 2 : 1 rate!

I also remember the 1.37 : 1 rate and I was not a happy bear - shopping etc severely restricted.

Still 1.52 : 1 is not that bad in the scheme of things.

[Scrooge]

The dollar won't be far behind, we have our own issues over here right now.

Luckily for my trip to Florida this April I've purchased a quantities of $ at 1.62 and paid for the accommodation at 1.60.

Fully hedged. $ is therefore sure to drop to $2:1.[:p]

[mcmbenjamin]

YEAH. Drop lower!

quote:Originally posted by Darren Wheeler
It's still no where near it's 12-month low of 1.37 and about where it was in June 2010.

Oooh, call Doc Brown, the DeLorean is out again [;)][;)][:D]

Cheers
Michael

[Darren Wheeler]

Oh bottoms!![:#]

Read 2002. [:I]

quote:Originally posted by mcuth
quote:Originally posted by Darren Wheeler
It's still no where near it's 12-month low of 1.37 and about where it was in June 2010.

Oooh, call Doc Brown, the DeLorean is out again [;)][;)][:D]

Cheers
Michael


ROTFLMAO!! Sharp mcuth [oo]

What do you think the dollar might be like by August?

somewhere between the floor and the ceiling!

[Darren Wheeler]

quote:Originally posted by lisanaomi
What do you think the dollar might be like by August?


If I knew that I could make a fortune.

Hopefully now that Greece has laid out its plans to deal with its national debt, some of the panic we saw this week will subside. As far as the Pound is concerned, we need to see the election out of the way with no hung parliament and in the meantime, the polls showing one party getting a sizeable lead.

Of course I could be way off.... [:)]

quote:Originally posted by Darren Wheeler
quote:Originally posted by lisanaomi
What do you think the dollar might be like by August?


If I knew that I could make a fortune.

Hopefully now that Greece has laid out its plans to deal with its national debt, some of the panic we saw this week will subside. As far as the Pound is concerned, we need to see the election out of the way with no hung parliament and in the meantime, the polls showing one party getting a sizeable lead.

Of course I could be way off.... [:)]


So I'll be buying my dollars before the election then. No way the result is going to be any other than a hung parliament unless some major catasrophe happens to either party

for mere mortals like us the rate is just the rate. We get what we get.

Of course it would be lovely to get 2 to $1 but thats not going to happen.

As for the election, what will happen will happen but election results have always moved the markets in all sorts of ways - and not in any particular way either, they often confiund expectations.

As individuals we have more important things to worry about!

quote:Originally posted by tontybear
for mere mortals like us the rate is just the rate. We get what we get.

Of course it would be lovely to get 2 to $1 but thats not going to happen.

As for the election, what will happen will happen but election results have always moved the markets in all sorts of ways - and not in any particular way either, they often confiund expectations.

As individuals we have more important things to worry about!


Personally the outcome of the election is of great concern to me, not because of exchange rates though. On that you are right I will just have to try and save up LOTS more money for my trip

[Scrooge]

quote:Originally posted by lisanaomi
quote:Originally posted by tontybear
for mere mortals like us the rate is just the rate. We get what we get.

Of course it would be lovely to get 2 to $1 but thats not going to happen.

As for the election, what will happen will happen but election results have always moved the markets in all sorts of ways - and not in any particular way either, they often confiund expectations.

As individuals we have more important things to worry about!


Personally the outcome of the election is of great concern to me, not because of exchange rates though. On that you are right I will just have to try and save up LOTS more money for my trip


Ok, admit it, your Gordon Brown aren't you [:p]

Nice to have you on the site Prime Minister [:w]

quote:Originally posted by tontybear


Of course it would be lovely to get 2 to $1 but thats not going to happen.




Never say never - 'events, dear boy, events'

quote:Originally posted by tontybear

Of course it would be lovely to get 2 to $1 but thats not going to happen.


I think you mean $2 to 1...[:w]..unless you're in the export business...

Paul

quote:Originally posted by stevebrass
quote:Originally posted by tontybear


Of course it would be lovely to get 2 to $1 but thats not going to happen.




Never say never - 'events, dear boy, events'


Now Harold MacMillan is a member !

quote:Originally posted by pjh
quote:Originally posted by tontybear

Of course it would be lovely to get 2 to $1 but thats not going to happen.


I think you mean $2 to 1...[:w]..unless you're in the export business...

Paul


eek ! must get my glasses cleaned!

Yes I did mean it the other way round!

quote:Originally posted by Scrooge
quote:Originally posted by lisanaomi
quote:Originally posted by tontybear
for mere mortals like us the rate is just the rate. We get what we get.

Of course it would be lovely to get 2 to $1 but thats not going to happen.

As for the election, what will happen will happen but election results have always moved the markets in all sorts of ways - and not in any particular way either, they often confiund expectations.

As individuals we have more important things to worry about!


Personally the outcome of the election is of great concern to me, not because of exchange rates though. On that you are right I will just have to try and save up LOTS more money for my trip


Ok, admit it, your Gordon Brown aren't you [:p]

Nice to have you on the site Prime Minister [:w]


Damn cover blown.....as you might know subtlety has never been my strong point.

I'd love it if it went 2 to the $.....