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£ to $US Exchange Rates

Last post Tue, Apr 07 2009, 4:49 AM by ATM. 2 replies.
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  •  Tue, Apr 07 2009, 4:49 AM

    Re: £ to $US Exchange Rates

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    Yes maxsteam and Mark G,

    Speculation is the buzz word with GBP at present. I traded 60% of my Sterling capital to USD getting £1.49 yesterday at an FX specialist. Most of the rise was due to someone at B of E mentioning that UK Base rates are expected to be at 2% again by Christmas 2009. I heard this news on Ransquawk free commentary service about 7.00am and piled in at 8.00am when the FX firm opened.

    That rise didn't last long though, GBP back down to $1.4660 at the moment. As you say a lot of it is pure guesswork.

    The news snippets that do come out especially those over the weekend can effect the Currencies in a major way when they start trading on Sunday evening (10.00pm GMT) By the time that the City opening gets underway on Monday a lot of movement could have already taken place as happened yesterday.

    Enjoy your trip to Miami Mark G

    • Post Points: 5

  •  Mon, Apr 06 2009, 11:46 PM

    Re: £ to $US Exchange Rates

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    Interest rates and inflation have an effect, as do people's guesses of where interest rates and inflation will be in the future. The main factor is speculation though.
    • Post Points: 20

  •  Mon, Apr 06 2009, 7:01 PM

    £ to $US Exchange Rates

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    Going on holiday to Miami in 4 weeks, and keeping a close eye on the exchange rates, as we havn't got our currency yet.

    Over the last week or so, the £ has improved over the dollar, and my local travel agent quoted 1.45 today (don't think it's been this high for ages, it's been in the 1.30's).


    Anyone know WHY it's started to climb? If I can understand the reasoning, I can make in informed judgment as to whether to wait or buy now...

    It's a gamble, and to be honest It's not going to make a huge difference either way, but would like to understand the influences...
    • Post Points: 20