To buy or not to buy

[Rain]

What a question!

Do we buy currency now ( It has lost a few cents over the last couple of days) or do we wait for the rate to go higher again.

Not going until November, took a chance last year and waited only to miss out totally on what was considered a good rate last year. I think it went up to 1.63 or something but we ended up buying at 1.51.

Lynda

 

[gingernick]

Taken from another post with thanks to TinkTatoo.

This is in the Scotsman today. (15-2-04)


STERLING is on course to reach the symbolic $2 level by the summer as the greenback continues to slump - a rate not seen since Black Wednesday 12 years ago when Britain was expelled from Europe’s exchange rate mechanism.

Twelve out of 20 analysts polled by research group Ideaglobal are predicting that sterling will strengthen sufficiently to reach $2 over the next few months.

Most economists expect the crucial exchange rate to be hit in July, but some believe that it may happen as early as April or as late as next January.

Almost all economists polled believe that sterling-dollar will reach $1.90 in the next few days. It reached an 11-year high of more than $1.89 last Friday, before falling back a little.

Lande Abisogun, economist at Ideaglobal, said: "Sterling will probably reach $2 by August and could rise a little more. It depends what happens to the euro-dollar exchange rate."

Other strategists are this weekend revising their currency forecasts, with Peter Dixon of Commerzbank now forecasting sterling at $1.97 by mid-year.

So $2 is looking good

As you can see by the type in bold, even "experts" don't know exactly. Me, i've started using my Nationwide card to pay for things now.