$ Dollar's gone down

[Hallowishes]

I know none of us have a crystal ball but does anyone think its on the way down now after a good week or do you think it'll go back up again? I read on the forecasts website that a dibber posted that its forecast to go up to $1.65 (be nice!) & go down to $1.39 later in the year. Nobody really knows but I'd like it to go back up so I can get some!

[Guest]

I loaded the fx card over the weekend at 1.6275 and bought some currency earlier today at 1.608, I am quite happy at those rates having watched it hover in the 1.5's for a quite a while.
I've been to the states in the past few years where its been $2 to £1 but a couple of years later it was $1.4 to £1 (looking at your trip list you probably know what I mean!) If the dibber you mention is right then I would get in now as its close to the top of the current market.

[Hallowishes]

1.6275 is a great rate, here's hopin it goes back up to that and i'll be getting some!

[Triciamcl]

Yeah I loaded some at 1.6275 too see its down slightly to 1.62... just debating whether to load more now at 1.62 or to wait to see if it bounces up again ?

[daviewat]

Originally Posted by Triciamcl

Yeah I loaded some at 1.6275 too see its down slightly to 1.62... just debating whether to load more now at 1.62 or to wait to see if it bounces up again ?

See more...

If you exchange say £500 at the later r ate its only $3.00 less ! not a lot difference really Its always nice to get a good rate but you get what you get and in real time at present its only a few dollers up or down for 500 or a 1000 ponds really

[Bugsy]

Personally i don't see the rate dropping anywhere near $1.39

It has just gone up to a 52 week high on the intermarket rate of $1.65491

This is due to the 0.5% growth in the economy last Quarter and the possible interest rate increase. As interest rates will increase at some point in the next 6 months , i wouldn't expect the rate to drop very much, and possibly increase a little.

Having a tracker mortgage , it's best for me if the interest rate stays as is and i lose a little on the exchange rate

[bighal]

Most likey a dip due to waiting to hear about the GDP figures due to be released today...

Which have just been released... so look out for some movement on the money markets.

[THE WIZARD]

I bought yesterday at the post office for $1.60 and was pleased with that, after all that has been happening. Have enough now and will just use the card when we are there and keep our fingers crossed the exchange rate is good at the time - whatever happens its not going to spoil my magic time !

[Big Dog]

There is no such thing as an acurate forecast, I did a screen shot of a forecast on the 16/08/10 which showed an April 2011 average of 1.42 which as we all know wasn't the case so these things should be taken with a pinch of salt.

The £-$ has held above a low of 1.42 in June last year up to it's current high with a 12 month average of around 1.54 so anything above that is good.

It should be noted that the markets still recognise that both the £ and $ are weak currencies it's just that the $ is weaker and the fed have a very loose policy which could keep it weak.

Forecast short term (ie days) is no great movement however if the Fed produce some poor results today it may push it a bit higher but chances are that is already built in.

On the whole if you are happy as it is then buy it now.

[Hallowishes]

[QUOTE=Bugsy;6183895]Personally i don't see the rate dropping anywhere near $1.39

I looked on this website posted by a fellow dibber forecasts/pound.htm which forecasts $1.39 in November, I can't see it going down that much either, I certainly hope it doesn't go down that low! But who knows, thats why I've decided to buy now as I don't think it will go up that much to make a difference.