Stupid Exchange Rate !

[Rascal1003]

Anyone think it might go back up over the $1.60 mark before we go next weekend? It was $1.63 last week and is now back to $1.57 at best !

How annoying !

 

[madmumof2]

I just noticed this. Last time I topped up on fairfx this week it was 1.65, now its 1.5775!

What's happened to make it drop so far so quickly? Gordon Brown AGAIN by any chance??

 

[Trixster]

The gov of Bank of England has been saying that he thinks a lower exchange rate is good for the economy (better for exports). This has caused an almighty drop in the rate over the last 48 hours.

Many analysts are predicting that it could drop further just like the euro exhange rate has. It is fighting back at the moment and is hovering around the 1.60 mark (spot rate). Others are saying the pound seems over sold and could retrace back above 1.60 over the next day or so. It could go either way, I don't think anyone knows - I wish we did!

The difference does mount up and sacrifices have to be made with less money, but keep smiling and don't get down as you are still going to the most magical place on earth.

Have a fab time.

 

[natalielongstaff]

i want it to go back up as well, ive still got to change the kids money over

 

[madmumof2]

I've got £400 to change in the next week or so, I want it to go back up!!

 

[sam_rogers]

i saw it at 1.53 at marks and spencer earlier

 

[natalielongstaff]

i saw it at 1.53 at marks and spencer earlier

Crikey thats low

 

[igk]

The gov of Bank of England has been saying that he thinks a lower exchange rate is good for the economy (better for exports). This has caused an almighty drop in the rate over the last 48 hours.

Many analysts are predicting that it could drop further just like the euro exhange rate has. It is fighting back at the moment and is hovering around the 1.60 mark (spot rate). Others are saying the pound seems over sold and could retrace back above 1.60 over the next day or so. It could go either way, I don't think anyone knows - I wish we did!

The difference does mount up and sacrifices have to be made with less money, but keep smiling and don't get down as you are still going to the most magical place on earth.

Have a fab time.

Mervyn King may well think a lower exchange rate is good for exports, but what with that and the £175bn of printed money, what about the value of people's savings? How he can think that inflation will be low for an extended period is beyond me.
I personally don't think, despite the national debt, and the £175bn, that Britain is in a uniquely bad position, but the foreign exchange markets have got into the habit of selling the pound (and the dollar to some extent) whenever there's a whiff of bad news. In the short term it looks like the markets will try to push the pound lower, but longer term 1.60 seems about the fair exchange rate.

 

[Nitram64]

Hope it goes up as i go in 10 days.

 

[BRobson]

i want it to go back up as well, ive still got to change the kids money over

me too!!!!!

 

[Lizzybear]

We bought our cash a while ago now at 1.62 and 1.61 and glad we did, figured if it goes up it goes up. I'll still be using my credit card over there so i'll obviously get whatever day's bank rate... Hope it doesn't go too low ETA: 1.59 approx at the moment.

 

[kristieuk]

Just in response to original post, I would be a cautiously hopeful of it bouncing back a little over the next few days. Over the past few weeks, it has risen and fallen comparatively wildly between the high 1.50's and 1.65-ish. I agree that just one comment in the news, and the fall is quite dramatic for a day or so, and it seems to level off again. I really hope it gains back in time for your trip. Have a wonderful time

 

[Rascal1003]

Just in response to original post, I would be a cautiously hopeful of it bouncing back a little over the next few days. Over the past few weeks, it has risen and fallen comparatively wildly between the high 1.50's and 1.65-ish. I agree that just one comment in the news, and the fall is quite dramatic for a day or so, and it seems to level off again. I really hope it gains back in time for your trip. Have a wonderful time

Let's hope so Kristie....we will hold out as long as we can in the hope that it recovers a little !

 

[natalielongstaff]

Let's hope so Kristie....we will hold out as long as we can in the hope that it recovers a little !

thats my plan ! i think if it gets up over $1.60 again i will get the kids money

 

[gemmybear83]

Just bought £20 worth of dollars in cash to have some change for tips when we arrive at the exchange at our local Coop Travel was 1.53 to the pound

 

[dc1964]

I have bought a $1000 from Cunard for our Canaries Cruise on The Queen Victoria in October. Gave us a rate of 1.89. You purchase for use on the on board account. Any remaining at the end is paid back in cash and we will use it in Florida in December. Not sure how they give such a great rate but loads have taken advantage of it.

 

[disneyday3]

DH called in the local TA to see what rate they were offering and they told him to wait!
She told him it had dipped because of the interest rate being lowered but would undoubtedly rise again in the next couple of weeks, so he should hold on to his money

Not a good salesperson really, but hey, if it saves us $'s

 

[Cochise]

very flawed advice from the agent, unless some good economy figures appear for the september quarter cant see any significant rise.

 

[disneyholic family]

I have bought a $1000 from Cunard for our Canaries Cruise on The Queen Victoria in October. Gave us a rate of 1.89. You purchase for use on the on board account. Any remaining at the end is paid back in cash and we will use it in Florida in December. Not sure how they give such a great rate but loads have taken advantage of it.

they're giving it to you as a kind of discount - not the same as when you walk up to a bank on the street....

very flawed advice from the agent, unless some good economy figures appear for the september quarter cant see any significant rise.

in the long run the dollar will tank - the question is, define "long run"...
hard to know when the tanking will occur....this year, next year, 10 years from now...
but it will happen...
one of the reasons there are people holding dollars (in savings) who are running around looking for other things to buy....we're all afraid that at some point it won't be worth much other than for bottom wiping...
but that's the long run...

in the short run, the rate is way too volatile to predict...

 

[Rascal1003]

$1.53 to the £ this morning.....could it actually get any worse, or do we think that it might pick up over the next couple of days ?

We travel in a week and have yet to sort out our Dollars. How very annoying !