Should I buy Dollars now?
Discussion
Simple one this, wanted to get the opinion of the great PH... full of people far more in the know about this sort of thing than I ever expect to be...
I'm going to the states for 3 months in January, a 3 month holiday basically so this big slump the pound has just suffered affects me a great deal, making all the money i've worked very hard to save up worth a whole lot less in a very short space of time indeed.
Should I buy a whole bunch of dollars now before the pound weakens any more?
Or do people expect it to improve again by January?
I realise nobody knows for sure, but what would you do?
I'm going to the states for 3 months in January, a 3 month holiday basically so this big slump the pound has just suffered affects me a great deal, making all the money i've worked very hard to save up worth a whole lot less in a very short space of time indeed.
Should I buy a whole bunch of dollars now before the pound weakens any more?
Or do people expect it to improve again by January?
I realise nobody knows for sure, but what would you do?
Shaolin said:
As you get older, you will develop the ability to bulls
t convincingly, others will interpret this as "wisdom" and act upon it. It will therefore become a self-fulfilling prophecy.
Ahh... someone else who thinks like me. I would normally offer my experience as a former trader - but you know what? The last few months has proven that no one really knows what is going on, and all you can do is think carefully about how best to protect yourself based on objectives.t convincingly, others will interpret this as "wisdom" and act upon it. It will therefore become a self-fulfilling prophecy.
Animal said:
What about NZ dollars? I'm going there in Feb - do I buy now or wait?
Now does seem like a good time based on the history (5 years)http://au.finance.yahoo.com/q/bc?s=GBPNZD=X&t=...
Hey Milford Kong,
I've just emigrated to the USA and when I left the exchange rate was 1.98 to the pound. I'm due to receive a settlement from court today (11,000) which 3 months ago would've paid for the wedding, honeymoon and other insane fkin ste women manage to pish money on for their big day.
Now its not looking good but I'd rather take 1.50 to the pound now than 1.40 or less when Xmas hits.
As a man in the trenches over here I can honestly say the economy is fked, so why the dollar is doing so well is completely beyond me.
If I were you I would change out 1,250 - 1,500 quid and gamble that the rest will move in a better direction for you. Worse case scenario is that you've secured over half the money at present rate and if it falls another 10-15% you wouldn't have lost out too much.
Best case, you secure over half the money and your "punt" gives you a nice little bonus when the dollar takes a nose dive back towards 1.80+ to the pound.
Personally I'm pulling out 6k and leaving 5k to accumulate a little interest whilst waiting to see what happens February/March.
I've just emigrated to the USA and when I left the exchange rate was 1.98 to the pound. I'm due to receive a settlement from court today (11,000) which 3 months ago would've paid for the wedding, honeymoon and other insane f
kin ste women manage to pish money on for their big day.Now its not looking good but I'd rather take 1.50 to the pound now than 1.40 or less when Xmas hits.
As a man in the trenches over here I can honestly say the economy is f
ked, so why the dollar is doing so well is completely beyond me.If I were you I would change out 1,250 - 1,500 quid and gamble that the rest will move in a better direction for you. Worse case scenario is that you've secured over half the money at present rate and if it falls another 10-15% you wouldn't have lost out too much.
Best case, you secure over half the money and your "punt" gives you a nice little bonus when the dollar takes a nose dive back towards 1.80+ to the pound.
Personally I'm pulling out 6k and leaving 5k to accumulate a little interest whilst waiting to see what happens February/March.
Gassing Station | The Pie & Piston Archive | Top of Page | What's New | My Stuff