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View Full Version : The crashing pound!


oceanscape
05-06-2010, 04:21 PM
Down to $1.47! :scared1: :scared1:

Looks like the election has had a pretty bad effect. Peaked at well over $1.51 yesterday - a $0.04 drop!

wayneg
05-06-2010, 04:33 PM
Uncertain times with world economies, concerns about high levels of European government debt sparked a massive fall on Wall St today, fell around 1,000 points before recovering to a 350 point drop.
http://news.bbc.co.uk/1/hi/business/10101581.stm

No doubt the FTSE will have a rough day tomorrow, my Barclays shares took another battering today.

This is before they announce the election result, fun times ahead... not

crabbie1
05-06-2010, 04:42 PM
Im glad I ordered my currency through crown 2 weeks ago. got 1.58. Not going till sept so it may pick up abit ut at least have $1900 already.
Wayne I hope things pick up for you.I thing this election has and will cause a lot of problems to the ecocmy for a while.

Morgstar
05-06-2010, 04:53 PM
Id like to think that the markets have actually been facing up to the fact that we are in hung parliament territory for the last week or so (granted there will probably be a small drop) but it appears that the city have some what pre-empted, and faced up to the reality of a coalition/minority government.

The test will come in the following weeks when we see whether a legitimate and STABLE body can govern. If it cant, then with financial instability in Europe coupled with our uncertainty over future economic policies we could be in for a battering.

Ps. Remember this is my opinion and im rarely right;) because if i actually knew what was going on id have already made my fortune and be living in Windermere/Dr. Phillips enjoying the good life:thumbsup2

crabbie1
05-06-2010, 05:02 PM
Id like to think that the markets have actually been facing up to the fact that we are in hung parliament territory for the last week or so (granted there will probably be a small drop) but it appears that the city have some what pre-empted, and faced up to the reality of a coalition/minority government.

The test will come in the following weeks when we see whether a legitimate and STABLE body can govern. If it cant, then with financial instability in Europe coupled with our uncertainty over future economic policies we could be in for a battering.

Ps. Remember this is my opinion and im rarely right;) because if i actually knew what was going on id have already made my fortune and be living in Windermere/Dr. Phillips enjoying the good life:thumbsup2

:rotfl::lmao::thumbsup2 same here

2Tiggies
05-06-2010, 05:06 PM
Id like to think that the markets have actually been facing up to the fact that we are in hung parliament territory for the last week or so (granted there will probably be a small drop) but it appears that the city have some what pre-empted, and faced up to the reality of a coalition/minority government.


Call me ignorant, but I don't see what the big deal is with a hung parliament. :confused3

Ps. Remember this is my opinion and im rarely right;) because if i actually knew what was going on id have already made my fortune and be living in Windermere/Dr. Phillips enjoying the good life:thumbsup2

:lmao: :rotfl2: I really appreciated this one!

AlexJB
05-06-2010, 05:44 PM
I'll be keeping an eye on the ex. rate for sure... oh how I miss the days of $2 per 1!

disneyholic family
05-06-2010, 06:32 PM
i read an article on tuesday that the pound would crash right after the election...

but pretty much everything is crashing right now....the euro too...

juliebro
05-06-2010, 10:16 PM
Here in the US the stock market has taken a massive tumble today.

Lots of other stock markets around the globe feeling pain too.

My concern is that we (globally) are not really out of recession and the worst may be yet to come.

I really hope I'm wrong.

oceanscape
05-07-2010, 02:28 AM
Down again to $1.46 today! :sad2:

oceanscape
05-07-2010, 02:50 AM
Just heard someone say on the news that the post-election climate is seeing pounds be sold left, right and centre. They expect the pound to continue to fall further over the weekend! Obviously nobody knows for sure what will happen, but it doesn't look good... :sad2:

melly
05-07-2010, 03:30 AM
Call me ignorant, !

ok then......ignorant


but I don't see what the big deal is with a hung parliament. :confused3
!

the big deal is no one is effectively in power, no one can lead, no one can make decisions because t'other main party can just vote against these ideas making it difficult pass laws this results in a lack of confidence from the money side of things, investments etc..

Claire-Bear
05-07-2010, 03:31 AM
Makes me so relieved we got our dollars from a cancellation from Crown Currency in March for 1.75!

orlandothebeagle
05-07-2010, 03:44 AM
Id like to think that the markets have actually been facing up to the fact that we are in hung parliament territory for the last week or so (granted there will probably be a small drop) but it appears that the city have some what pre-empted, and faced up to the reality of a coalition/minority government.

The test will come in the following weeks when we see whether a legitimate and STABLE body can govern. If it cant, then with financial instability in Europe coupled with our uncertainty over future economic policies we could be in for a battering.

Ps. Remember this is my opinion and im rarely right;) because if i actually knew what was going on id have already made my fortune and be living in Windermere/Dr. Phillips enjoying the good life:thumbsup2
agree
i read an article on tuesday that the pound would crash right after the election...

but pretty much everything is crashing right now....the euro too...

the euro crashed ages ago.
re dollar It was at 1.3 last year anyway nearly, it has fallen 10c:confused3
The way I try to look at it, I save on my mortage I loose on currency, it is like everything in life it swings in roundabouts.

But I loved the 2 for a pound:woohoo: they were happy days.

orlandothebeagle
05-07-2010, 03:47 AM
Makes me so relieved we got our dollars from a cancellation from Crown Currency in March for 1.75!
:thumbsup2:thumbsup2

I rather smugly got a big bonus from work when it was nearly 2 to the pound and I cant believe I had the sense to swap it to dollars, sometimes I amaze myslef!:laughing:

oceanscape
05-07-2010, 04:26 AM
Down again to $1.46 today! :sad2:
Scrap that.........$1.45 now!

wayneg
05-07-2010, 04:30 AM
a big bonus from work

That's a blast from the past, I remember them.:rotfl:

oceanscape
05-07-2010, 04:52 AM
It's actually pretty worrying/embarrassing that the pound is even falling against the Euro!

tennisfan
05-07-2010, 05:29 AM
It's actually pretty worrying/embarrassing that the pound is even falling against the Euro!

It was predicted this would happen in the event of a hung parliament. I'm glad I got my the other day shame I didn't get any $ whilst I was there, hopefully it will stabilise at least or start to pick up by the time I go to the US

Neoshoegal
05-07-2010, 05:35 AM
It's all just too depressing, the state of the politics (not just in this country!) and the whole currency exchange :sad2:

I'm buying a lottery ticket, with a whole lot of luck that might have a chance of cheering me up

orlandothebeagle
05-07-2010, 06:06 AM
ok then......ignorant


:confused3 bit harsh

the big deal is no one is effectively in power, no one can lead, no one can make decisions because t'other main party can just vote against these ideas making it difficult pass laws this results in a lack of confidence from the money side of things, investments etc..

That's a blast from the past, I remember them.:rotfl:

I know, thats the last bonus I think I got:upsidedow

les2425
05-07-2010, 06:44 AM
it dropped even more check the thomas cook website $1.40 to the .

i not exchanging mine not for a long time.

les m :santa:

fuse04
05-07-2010, 07:59 AM
so glad I ordered mine back in March, it arrived today in the post at an average of $1.76

disneyholic family
05-07-2010, 08:09 AM
Here in the US the stock market has taken a massive tumble today.

Lots of other stock markets around the globe feeling pain too.

My concern is that we (globally) are not really out of recession and the worst may be yet to come.

I really hope I'm wrong.

apparently what happened on the US stock market was due to human error..
someone pressed the wrong button (guess they didn't listen to the instructions for men in black "DON'T PUSH THE RED BUTTON"

agree

the euro crashed ages ago.



the euro is still crashing....it went up a bit today against all currencies, but it is WAY down against the dollar.....
we unfortunately have a lot of euros for business.....we've lost tons of money over the past few weeks as the euro has crashed into oblivion against the dollar...
but no point in selling them now.....got to grit our teeth and hold on....it's a wild ride...

Disneymad
05-07-2010, 10:23 AM
Originally Posted by melly

ok then......ignorant


Originally Posted by OrlandotheBeagle

bit harsh

Ummm, surely that was just a joke? It's in a similar vein to "That's a problem, surely" - "No, no problem, and don't call me Shirley!" - just an old cheesy joke :)

2Tiggs said 'call me ignorant' so Melly obliged - I don't really think anyone would call a person ignorant for asking a legitimate question.

2Tiggies
05-07-2010, 10:53 AM
it dropped even more check the thomas cook website $1.40 to the .

i not exchanging mine not for a long time.

les m :santa:

I went past the Cheque Centre at lunch time today and it was 1.41. I was going to buy some more today, but I think I will ride it out.

so glad I ordered mine back in March, it arrived today in the post at an average of $1.76

Good for you! :thumbsup2 I did well for last year's trip buying at a good time and got $1.80-odd to the pound. By the time we went it was 1.38. It's a good feeling! :)

Ummm, surely that was just a joke? It's in a similar vein to "That's a problem, surely" - "No, no problem, and don't call me Shirley!" - just an old cheesy joke :)

2Tiggs said 'call me ignorant' so Melly obliged - I don't really think anyone would call a person ignorant for asking a legitimate question.

It's okay - I took it as a joke. :goodvibes

melly
05-07-2010, 11:42 AM
Ummm, surely that was just a joke? It's in a similar vein to "That's a problem, surely" - "No, no problem, and don't call me Shirley!" - just an old cheesy joke :)

2Tiggs said 'call me ignorant' so Melly obliged - I don't really think anyone would call a person ignorant for asking a legitimate question.

it was pretty obvious, wasnt it. :)

fairytale
05-07-2010, 11:45 AM
it was pretty obvious, wasnt it. :)

It was to me ;)

2Tiggies
05-07-2010, 12:33 PM
it was pretty obvious, wasnt it. :)

It's okay, really. No offence was taken :rotfl: We need to be careful not to steer the thread off topic - don't want to see that yucky padlock at the end of the page. :)

orlandothebeagle
05-07-2010, 01:07 PM
Ummm, surely that was just a joke? It's in a similar vein to "That's a problem, surely" - "No, no problem, and don't call me Shirley!" - just an old cheesy joke :)

2Tiggs said 'call me ignorant' so Melly obliged - I don't really think anyone would call a person ignorant for asking a legitimate question.

I went past the Cheque Centre at lunch time today and it was 1.41. I was going to buy some more today, but I think I will ride it out.



Good for you! :thumbsup2 I did well for last year's trip buying at a good time and got $1.80-odd to the pound. By the time we went it was 1.38. It's a good feeling! :)



It's okay - I took it as a joke. :goodvibes

it was pretty obvious, wasnt it. :)

It was to me ;)

It's okay, really. No offence was taken :rotfl: We need to be careful not to steer the thread off topic - don't want to see that yucky padlock at the end of the page. :)

ok, so call me stupid.

melly
05-07-2010, 01:23 PM
ok, so call me stupid.

stupid

scojos
05-07-2010, 02:04 PM
:rotfl2::rotfl2:stupid

oceanscape
05-07-2010, 02:05 PM
stupid
:rotfl: :lmao: :rotfl: :thumbsup2

Soprano
05-07-2010, 02:38 PM
$1.38 in the Post Office today. Never were the best with the exchange rates, but still...!:rolleyes1

I'm there Tuesday week by then the last thing I'll be doing is worrying about =$. Won't slow my spending! :rotfl:

tttessa
05-08-2010, 02:09 AM
Pound will probably hover round $1.50 for a while - always happens when it hits a psychological barrier of a round number.... most buying/selling done by computer - folks have to set the cut off - lots will be set to "only sell when I can get $1.50" or "only buy when less than $1.50". That's why we had those fantastic $2.00 weeks.

Tessa

Neoshoegal
05-08-2010, 05:24 AM
Well, it's now up at $1.48 again.

2Tiggies
05-08-2010, 05:25 AM
Well, it's now up at $1.48 again.

I'll go get my bank card! :lmao:

igk
05-08-2010, 07:20 AM
If there's no agreement on how to form a new government by Monday I hate to think what will happen to the pound :scared1:
Only my opinion of course, I hope I'm wrong. but I really hope something gets sorted out...

Edit - looks like it won't be decided by Monday - hope the markets are in a patient mood...

oceanscape
05-18-2010, 03:07 PM
What's going on?! Down to $1.43 today! :scared1::scared1::scared1:

wayneg
05-18-2010, 03:15 PM
What's going on?! Down to $1.43 today! :scared1::scared1::scared1:

UK inflation hit 17 month high today, more Euro pressures. Just no good news around to lift it.:sad1: http://news.bbc.co.uk/1/hi/business/default.stm

disneyholic family
05-18-2010, 03:19 PM
this was predicted...
they said the pound would crash after the election...and so it has...

i don't own any pounds, but i have lots and lots of ever more worthless euros... :eek: :eek: :eek:

oceanscape
05-18-2010, 04:15 PM
UK inflation hit 17 month high today, more Euro pressures. Just no good news around to lift it.:sad1: http://news.bbc.co.uk/1/hi/business/default.stm
I thought the deficit reduction plan might have had a positive impact :confused3

melly
05-18-2010, 04:58 PM
I thought the deficit reduction plan might have had a positive impact :confused3

the mighty deficit reduction plan that saves 6 billion even though the deficit is 170 billion.

Not likely to give a positive impact is it?

oceanscape
05-18-2010, 05:19 PM
the mighty deficit reduction plan that saves 6 billion even though the deficit is 170 billion.

Not likely to give a positive impact is it?
Beats Labour's plan of not bothering to tackle it at all.....

igk
05-19-2010, 04:36 AM
What seems to be going on now is a massive amount of global risk aversion as a result of the Eurozone chaos. So the dollar (and yen) are rising against more risky currencies, of which the pound is one.
FWIW I would have thought the pound would be rising vs the euro, and it has a bit over the last few weeks, but I suppose the markets fear that might be out of the frying pan into the fire. The pound has held up recently against other currencies like the Swiss Franc and Aussie Dollar (after having fallen earlier), which reinforces my view that it's a dollar thing rather that (at the moment) a pound thing.
If George Osborne or Mervyn King say anything too stupid that could change though...

melly
05-19-2010, 06:57 AM
Beats Labour's plan of not bothering to tackle it at all.....

hey, I know and agree however its still not news that will inspire confidence in trading is it?

2Tiggies
05-19-2010, 07:41 AM
Hopefully the anxiety and negativity will ease a bit once the initial uncertainty wears down a bit.

les2425
05-19-2010, 09:24 AM
today rate at thomas cook online $1.3949 up $0.0068.
500 = $697.45 $3.40 more than yesterday.

les m

2Tiggies
05-19-2010, 10:24 AM
today rate at thomas cook online $1.3949 up $0.0068.
500 = $697.45 $3.40 more than yesterday.

les m

I love anyone who throws in a glimmer of hope - no matter what it is! ;)

les2425
05-20-2010, 04:43 AM
today rate at thomas cook online $1.3969 up $0.0020.
500 = $698.45 $1.00 more than yesterday.
$0.15 more than the lowest point this week.

Record low monday 17th may $1.3786
Record high tuesday 1th nov $1.6357

les m

tinkandonaldfans
05-21-2010, 06:58 AM
i'm not going until sept 2011 but have a disney wedding to pay for so really hoping it picks up before then. I was kind of hoping for 1.55-1.6! Otherwise its going to cost us even more!

les2425
05-21-2010, 07:55 AM
today rate at thomas cook online $1.4001 up $0.0032.
500 = $700.05 $1.60 more than yesterday.

Record low monday 17th may $1.3786
Record high tuesday 1th nov $1.6357


its going up i just keep a eye on the rates.
i like to wish you congratulation on getting married.
we will be out in sept 2011 on are honeymoon as well.

les & bev

les2425
05-24-2010, 07:41 AM
today rate at thomas cook online $1.4091 up $0.0090.
500 = $704.55 $4.50 more than friday.

Record low monday 17th may $1.3786
Record high tuesday 1th nov $1.6357

2Tiggies
05-24-2010, 10:12 AM
Thanks Les - you're doing great at keeping us up to date on here. :goodvibes

disney_princess_85
05-24-2010, 10:17 AM
Yes, thank you Les. :)

$1.4091 though... :scared1: Not good!!

les2425
05-24-2010, 12:11 PM
i no it does not sound so good but if you look at the high to lowest amount over the past 9 months its over there was a difference of $128.55 on just 500.
thats one swanky meal out.
but it has gone up 3 cents in the last 5 days.
or $15.25 on 500

i keep you all informed we still have to get are holiday money.

les

OrlandoMagic
05-24-2010, 12:48 PM
For those with a FairFX currency card...

FairFX = 1.4225

And 1.4143 for notes.

I'll try and update FairFX rates each day :)

diddldonna
05-24-2010, 04:39 PM
thanks for the updates.

les2425
05-25-2010, 06:50 AM
today rate at thomas cook online $1.3936 down -$0.0155
500 = $696.80 down $7.75

Record low monday 17th may $1.3786
Record high tuesday 1th nov $1.6357

it can only get better :thumbsup2

OrlandoMagic
05-25-2010, 03:02 PM
FairFX Currency Card = 1.4150 (0.0075 down on yesterday)

And 1.3994 for notes (0.0149 down on yesterday)

2Tiggies
05-25-2010, 06:44 PM
FairFX Currency Card = 1.4150 (0.0075 down on yesterday)

And 1.3994 for notes (0.0149 down on yesterday)

Thanks Simon and Les. I am keeping an eye on the FairFX rate too, but at this stage I am willing to wait. I have bought more than half my currency already so I am willing to hold out on it a bit longer, but it is one of those things you need to keep an eye on in case you miss a window of opportunity ;)

les2425
05-26-2010, 06:42 AM
today rate at thomas cook online $1.3971 UP $0.0035
500 = $698.50 UP $1.75

Record low monday 17th may $1.3786
Record high tuesday 1th nov $1.6357

OrlandoMagic
05-26-2010, 04:19 PM
Todays FairFX rates...

Currency card = 1.4200 (Up 0.005 on yesterday)

And 1.4032 for notes (Up 0.0038 on yesterday)

les2425
05-27-2010, 08:13 AM
today rate at thomas cook online $1.4099 UP $0.0128
500 = $704.95 UP $6.40

Record low monday 17th may $1.3786
Record high tuesday 1th nov $1.6357

les :)

OrlandoMagic
05-27-2010, 12:37 PM
Todays FairFX rates...

Currency card = 1.4325 (Up 0.0125 on yesterday)

And 1.4152 for notes (Up 0.012 on yesterday)

2Tiggies
05-27-2010, 02:57 PM
Thanks guys! I saw at the Cheque Centre today that the rate had just made it back into the $1.40 zone again - lets hope it picks up from here. :)

les2425
05-28-2010, 04:44 AM
today rate at thomas cook online $1.4179 UP $0.0080
500 = $708.95 UP $4.00
UP $4.40 since Monday
Record low monday 17th may $1.3786
Record high tuesday 1th nov $1.6357

les :santa:

2Tiggies
05-28-2010, 04:53 AM
today rate at thomas cook online $1.4179 UP $0.0080
500 = $708.95 UP $4.00
UP $4.40 since Monday
Record low monday 17th may $1.3786
Record high tuesday 1th nov $1.6357

les :santa:

You're early today Les! :goodvibes Looking much better now - nice good news for the long weekend! Enjoy yours. :)

Disbabe
05-28-2010, 07:21 AM
I've been using the dibb website which lists the best rates and at the moment iceplc are coming up with an exchange rate of 1.4214 on cash, travellers cheques and their money card. You get free insured delivery (Royal Mail Special Delivery) for orders over 400 and next working day delivery for orders placed before 3pm - receipt of money on saturday incurs an additional 99p - worth checking out.

We normally use Tesco Online - but even ICE are offering a better deal at the moment!

OrlandoMagic
05-28-2010, 08:33 AM
I've been using the dibb website which lists the best rates and at the moment iceplc are coming up with an exchange rate of 1.4214 on cash, travellers cheques and their money card. You get free insured delivery (Royal Mail Special Delivery) for orders over 400 and next working day delivery for orders placed before 3pm - receipt of money on saturday incurs an additional 99p - worth checking out.

We normally use Tesco Online - but even ICE are offering a better deal at the moment!

FairFX are offering 1.4227 on cash today and 1.44 on currency card, they seem the best choice at the moment.

Disbabe
05-28-2010, 08:39 AM
I looked at fairfx, but I don't want to purchase cash or a card - but travellers cheques, as I already purchased half of the money including some cash - so fairfx is not an option for us.

Nero the dog
05-28-2010, 03:10 PM
I've just noticed this thread.. we ordered our t/cs and currency the other day from Crown Currency Exchange at 1.512 :banana::banana: I think we have been sooooo lucky :goodvibes

They offer special rates quite often via email and you can call up to book the funds in advance. It tends to be for delivery between certain dates, although you do pick your own actual delivery date.

We used them for our last trip and it was spot on :)

les2425
06-01-2010, 06:07 AM
today rate at thomas cook online $1.4121 DOWN $0.0058
500 = $706.05 DOWN $2.90
DOWN $2.90 since Friday
Record low monday 17th may $1.3786
Record high tuesday 1th nov $1.6357

Les:santa:

les2425
06-02-2010, 11:41 AM
today rate at thomas cook online $1.4310 UP $9.45
500 = $715.50 UP $9.45
UP $6.55 since Friday
Record low monday 17th may $1.3786
Record high tuesday 1th nov $1.6357