$1.56 : £1 WTF!

[jshell]

Why the lack of confidence in the £ all of a sudden?

[CosmicMatt]

Erm, you not been around for a while? The country is about to enter a 'recession'.

Blame it on the Euro I say.

[esselte]

jshell said:

Why the lack of confidence in the £ all of a sudden?

[Heskey]

esselte said:

jshell said:

Why the lack of confidence in the £ all of a sudden?

I found the reaction more comical than the original quote

[Nicol@]

1.56 is still much better than this mornings rate.

[g4ry13]

Not really all of a sudden, it's been a few months in the making. The country's in recession, the government are spending money faster than they can borrow it. Interest rates are going to be getting slashed in coming months and no-one really has as much demand for the UK's biggest export these days. Did I forget to mention increasing unemployment, falling over-inflated housing market. I could go on, but the UK is not a pretty picture.

[MrVelox]

I'm not complaining...

[jshell]

Aye, Aye, I read the news. What I meant was: if the UK economy is, say 25% down and the US economy matches that, then the exchange rate should remain somewhat equitable. However, does the massive change in exchange rate mean that confidence in the UK is soooo much lower than the US????

[Kozy]

Balls, that MFactory short ratio gearset is getting more expensive by the day...

[esselte]

jshell said:

Aye, Aye, I read the news. What I meant was: if the UK economy is, say 25% down and the US economy matches that, then the exchange rate should remain somewhat equitable. However, does the massive change in exchange rate mean that confidence in the UK is soooo much lower than the US????

I think one of the reasons may be that the interest rate in the UK has the potential for a greater drop than either the euro zone or the US so people are buying those instaed of stirling?

[Chris_w666]

Ok brain failed so stupid Q time.

Would buying at $1.90 - £1

Then selling with current rates be good or bad?

[esselte]

Chris_w666 said:

Ok brain failed so stupid Q time.

Would buying at $1.90 - £1

Then selling with current rates be good or bad?

Obviously you'll get more pounds for your dollar now than if you bought at $1.90 (I think )

[Chris_w666]

esselte said:

Chris_w666 said:

Ok brain failed so stupid Q time.

Would buying at $1.90 - £1

Then selling with current rates be good or bad?

Obviously you'll get more pounds for your dollar now than if you bought at $1.90 (I think )

So changing any spare dollars I may have from a trip over there earlier this year wouldn't be as solid an arse rape as when the pound was strong?

[Scrubs]

Dammit....


Off to New York in 10 days. Am I best buying now or waiting to see what happens during the week and just keep an eye on it ready to jump when it goes back up a notch?

[esselte]

JulianHJ said:

Chris_w666 said:

Ok brain failed so stupid Q time.

Would buying at $1.90 - £1

Then selling with current rates be good or bad?

If you were buying $ at that rate and selling today, it would be bad.

Go on,explain that one.At the beginning of the year it would have taken 2 dollars to buy a pound,now it takes $1.55....or have I calculated the wrong way round?

[jshell]

Chris_w666 said:

esselte said:

Chris_w666 said:

Ok brain failed so stupid Q time.

Would buying at $1.90 - £1

Then selling with current rates be good or bad?

Obviously you'll get more pounds for your dollar now than if you bought at $1.90 (I think )

So changing any spare dollars I may have from a trip over there earlier this year wouldn't be as solid an arse rape as when the pound was strong?

Do it now and you'll get more back. On the tourist deals I found Marks and Spencer's to be best.....!

[youngsyr]

Chris_w666 said:

Ok brain failed so stupid Q time.

Would buying at $1.90 - £1

Then selling with current rates be good or bad?

If you bought £100 worth of dollars at $1.90: £1, you would have $190.

If you then sold those dollars at $1.5: £1, you would have £126.67, a profit of £26.67 or 26.67%.

[Horse_Apple]

jshell said:

Why the lack of confidence in the £ all of a sudden?

[briSk]

and it used to be 1:1 once. things change that's life!

[Hyperion]

I'm glad I exchanged £2000 into Dollars when it was over $2 to the pound