ARGH Dollar exchange getting lower!

[seobaina]

What's going on with the exchange rates? I've not seen it this low for ages. Any of you smart money minded disers think it's going to go up again before April or should I be buying now before it gets worse?

 

[igk]

The state of the UK economy and the amount of government debt is the main reason the pound has fallen in recent weeks. The recovery from recession has been very feeble, and the amount of debt is growing at a faster than expected rate. With the general election approaching, recent polls are suggesting the possiblility of a hung parliament, which would be perceived as weak and less able to tackle the problem decisively.
Meanwhile the Bank of England seems to want the pound to drop to stimulate the economy. Add that to the fact that the euro has been weak against the dollar because of Greece, the pound has been dragged down with that too.
I personally think the eurozone's problems are worse than ours, but I'm probably in the minority.
Things that might make the pound go up would be an upward revision to the economic recovery figures or an increase in the tory lead in the polls.

It's very hard to advise what to do regarding timing - last year the pound dropped and at the time it all seemed very gloomy, but it recovered above 1.60 for a while, so you can never tell. If I say I'm pessimistic and you should do it now and it goes up I'll look like an idiot!

 

[mmtdevlin]

I'm in the same position. Finally got the money saved for our Disney tickets. (Have all the rest); and then it drops below 1.55

If it hits 1.55 in the next week or so I'm going to cut my losses and buy.

 

[seobaina]

Thanks igk

mmtdevlin - think I might do the same. I was so sure it'd be around 1.6 something

 

[mmtdevlin]

Does anyone have a link to where I can view the "retail" $Dollar rate for each day?

 

[london75]

This is the one I use http://finance.yahoo.com/q/bc?s=GBPUSD=X&t=1d&l=on&z=m&q=l&c=

The charts are a little flaky and need a refresh sometimes to redraw.

 

[wayneg]

I use BBC http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/currency/11/12/default.stm

 

[fleurbie]

Same here, we're giong end of April so holding out abit longer, feels like a game of chicken

 

[seobaina]

LOL That's exactly what it feels like!

 

[igk]

This is a good for a quick money-market currency snapshot
http://www.oanda.com/currency/real-time-rates
I look at that page more times a day than is healthy

 

[Trixster]

This is the one I use and it also provides you with information as to why the rates move. For instance today the gov of BOE had not very positive words to say about the UK economy and hence a drop in the rate.

http://www.forexnews.com/

 

[seobaina]

Thanks for all the links

 

[orlandothebeagle]

Exchange rate is EXACTLY the same as when I went for the first time 20 years ago, its not really that bad, its just that it was really good for a while.

This is the best rate I usually can find anywhere.

http://www.iceplc.com

 

[seobaina]

Think I've just been spoilt. I don't remember ever going with it as low as 1.5 before.

 

[igk]

The way it's going we'll be thinking wistfully of 1.50 before very long

 

[orlandothebeagle]

The way it's going we'll be thinking wistfully of 1.50 before very long

I agree, gonna get some stocks in tom, 1.49 today.

 

[2Tiggies]

Just ordered my FairFX card today. I don't like to say I am starting to panic but ...... my "safe" budget is £150

 

[seobaina]

The way it's going we'll be thinking wistfully of 1.50 before very long

Argh, I hope not. Kicking myself for not getting dollars in Jan now.