I certainly reckon over $1.90 again, but I am not sure it will get to $2.00
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I certainly reckon over $1.90 again, but I am not sure it will get to $2.00
<blockquote id="quote" class="ffs">quote: The US goverment raised their interest rates yesterday to 5% so it may drop some more this week.[/quote]
Not sure what you mean by "drop some more"
If a country raises its interest rates it makes the currency more attractive to investors and the currency usually strengthens.
Thus as the US$ has been dropping in value you would normally expect that trend to be reversed and stabilise - or rise in value a little.
The problem being that the currency market anticipates these actions and have allowed for them.
Obviously if the underlying economy is weak raising interests rates will not have any lasting effect. Raising UK rates to 15+% some while ago did not stop the run on the UK£.
<blockquote id="quote" class="ffs">quote:I certainly reckon over $1.90 again, but I am not sure it will get to $2.00[/quote]
If you had any confidence in that statement you could make yourself Millions.
The best brains in all the world's financial institutions, with access to every scr@p(swear filter avoidance!) of information available and every computer program, calculate it is worth exactly what it is worth today.
Nobody, but nobody, has any clue which way the exchange rate will move from today.
I would have thought that if the interest rates in the US go up then its more than likely the dollar should got stronger.
<blockquote id="quote" class="ffs">quote:[i]Originally posted by Robert5988
Nobody, but nobody, has any clue which way the exchange rate will move from today.
[/quote]
So, so true Robert. However, I confidently predict it will be either higher, lower or at the same level by the end of today.
Travelex are ofering $181.00 to the British Pound online this morning
Order the cash online from M and S. Free next day delivery.
andrew
<blockquote id="quote" class="ffs">quote:Originally posted by Homer
M+S now at $1.797
Could not get down there yesterday
Ah Well will keep my peepers peeled
[/quote]
I have just got back from Thomas Cook and they gave me $1.80 to the pound on both Cash and T/C's. You have to make a purchase of £1000 to get this rate but there was no commisson to pay.
<blockquote id="quote" class="ffs">quote: Order the cash online from M and S. Free next day delivery.
[/quote]
Or 'order' the cash from an ATM using your debit card and get more US$ cash for each UK£.
Thats easier said than done I had to pay a nice fat cheque into my building society last week so I was going to draw that out and pay cash.
Unfortunatley my good lady spent most of the day yesterday converting some of that money into clothes and womens things!!!!
Huurrrummppphhhh
I hope she got a good rate of exchange, at least in her eyes.