Pound falling.

[finchy3]

The £ at it's lowest in nearly 5 year's

 

[chmurf]

The £ at it's lowest in nearly 5 year's

think about those among us (that would be me, lol) who have accounts in Euros.

when I booked OKW last april, the euro was worth £0.84
now it's worth £0.71

our £4111 booking at OKW was worth 4900€ when we booked, today it was worth 5790€, that's a 890€ increase.

Imagine that your booking just increased by £630 .... that's basically what happened to us over the course of the year.

and I'm not even mentionning the USD. From $1.34 down to $1.04 ...(over a Euro)


what we're all praying for here (WDTC-UK customers who live in mainland europe) is that the general elections will at least have some effect on the pound and weakin it.

Sorry for you people from the UK, but we've been hurt a lot but the fall of the Euro, and those of us who have a booking in GBP have had it very bad over the course of the last year, and it keeps getting worse. And I wanted to share that perspective.

 

[gavvy]

Markets don't like the uncertain... and a general election creates that, I think after may- maybe towards the end of the year things will stabilize. Mind If I coud predict currency I would be a millionaire now!

 

[pandv_2000]

As chmurf is pointing out above it's not really that the pound is weakening against the dollar as the pound is actually very strong against other currencies, such as Aus dollar and the Euro but the dollar is strengthening against the pound. Unfortunately I think the markets have already taken into account the high likelihod of a hung parliament so it's unlikely to get better after the election unless we get a majority government. However there is a general election due in the US in 2016 and as Obama has already served 2 terms we know a new president is on the cards no matter what so hopefully that will move things in our favour as the year goes on.

 

[tinkerpea]

We just had to pay off our disney cruise and definitely felt the drop!
I do hope since we like to take a decent amount of cash that it comes back up before we go in may.

 

[zavandor]

think about those among us (that would be me, lol) who have accounts in Euros.

I can feel the pain, I'm going to buy a house in London and most of my savings are in my Euro bank account, I've lost quite a bit of £ in the latest few months.
Fortunately I've bought DVC a few years ago when USD was at a low. And I've rented excess points this year, so I have enough money in my USD account to pay for maintenance fees for the next 2 years.

 

[Kath2003]

Rubbish. CC rate is like $1.47 today; cash more like $1.43. Oh well, it is what it is - not like we're going to cancel our trip, it'll just cost us more. Luckily everything else was paid off a long time ago when the rate was nearer $1.60 so just food and shopping to sort now.

Forecasts (yes, yes, never reliable...) are it's not likely to get any better in 2015 (and possibly not even in 2016...), and more likely to get a fair bit worse, so those with trips in the next couple of months might want to research and see whether it's worth the gamble of buying now. It's not for us - we go in a couple of weeks and the CC rate is still better than the cash rate.

Might screw up my 2016 plans though

 

[Jakejosh4]

Oh no going in 2016 and need to pay for the cruise in Dollars hope it gets better after the Elections

 

[scoobydooby]

It will only get better if we get an outright winner at the elections. Which is wholly improbable. I'm cross. Changed 1k at 1.53 a few weeks ago. Wish I'd just done the lot then!!!

 

[scoobydooby]

Actually. What I really wish for is the 1.93 rate of our first trip. Ah. Those were the days! Four Virgin direct flights in PE at Easter for £1,500 and a 1.93 exchange rate

 

[Elise79]

It was not that long ago (only 4 or 5 years) that the dollar was this low and it had fallen much further then as it had been over $2.

It is what it is unfortunately

 

[lgp1]

The £ at it's lowest in nearly 5 year's

I don't know whether to buy my dollars now or wait a bit longer, going in September.

 

[finchy3]

It's a tough one, even the currency experts differ on what will happen.
The pound has been below this level before and risen again, but the US economy is on the up and as mentioned above there is a lot of uncertainty in the UK at the moment.

 

[1andrea]

I'm hoping it picks up by early July.

The £ is good against the Euro though so does that mean the Euro is even weaker against the $ because the $ must be the stronger currency at the moment?

 

[Florida2012]

We go next November, just after their election, so hoping for a bit of "instability" then! Lol

 

[chmurf]

The £ is good against the Euro though so does that mean the Euro is even weaker against the $ because the $ must be the stronger currency at the moment?

The Euro is weak for 2 reasons

1st the European Central Bank has vowed to lower the value of the Euro to favor the export market, making Euro based goods more affordable for the US and Asian markets. They also inject lots of cash into the euro system with a Quantitative Easing, so the euro is driven down

2nd the Dollar is very strong, and you can feel it with your sterling pounds. We (euro users) feel it even more dearly as we suffer a double penalty (strengthening of the dollar due to US economy dynamics, and weakining of the euro due to financial dynamics)

To know how the pound is doing, you can see that in how the pound holds against the euro, and need to consider the 3 currencies and how they do against one another

The pound has almost lost 1p to the euro since the beginning of the week.
The euro is barely holding against the dollar, which mean that the pound is currently on a slight fall. (euro doesn't go up vs. USD, and pound goes down vs. euro, therefore pound is falling)

but it's nothing alarming so far, markets move swiftly, and in the last couple of weeks we've seen the euro plunge by 1.5% or more per DAY.

I'm no financial expert, but I would try to cut any losses by securing some green notes, but not all of it, just in case your general elections have a nasty effect on the quid.

 

[Sam1]

think about those among us (that would be me, lol) who have accounts in Euros.

when I booked OKW last april, the euro was worth £0.84
now it's worth £0.71

our £4111 booking at OKW was worth 4900€ when we booked, today it was worth 5790€, that's a 890€ increase.

Imagine that your booking just increased by £630 .... that's basically what happened to us over the course of the year.

and I'm not even mentionning the USD. From $1.34 down to $1.04 ...(over a Euro)

That's a bit of an increase. We didn't book for this year in the end, so it's not affecting us. Our income is paid in GBP, but we only have an account in euros as well. It's nice because our income has gone up, but not so nice if we want to buy anything in GBP. We're looking to book for next September, so I've been trying to work out which will be best, booking in pounds or booking in dollars. Both are just as bad, so I'll be booking in pounds and hoping it improves just before the balance is due.

 

[wayneg]

Typical, I go and buy £1,000 worth of $'s this afternoon, last few hours the $ has weakened:
US Dollar $1.49940 +0.02490 cents +1.69%

ForEx is something you really cannot forcast. Way too many variables have to be taken into account.

Need to pay cruise off in May so a steady increase until then would be good.