Election and Dollar Rate

[DisneyPrincess]

just wondering if anyone can advise on what is likely to happen to the strength of the pound if we end up with a hung parliament?

a freind has suggested we could end up £1 = $1 which would be a nightmare. Wondering if it might be a good idea to get some dollars at the current rate (even though its not great) if the pound is likely to go down against the dollar. We travel back to Florida in August

[steph_goodrum]

We always work on if there is a rate we are comfortable with then get some at that rate. It did go down a little while ago but seems to be hovering around 1.48/1.50 which is usually our bench bark (before the short spell of $2 to pound. On most holidaymakers spending a few cents wont make a huge difference but you may as well get as much as you can.

[Katys Grandad]

In today's Times, David Cameron is predicting a "Sterling Crisis" if there's a hung parliament. But then he would, wouldn't he?[msnwink]

[msmiff]

Despite what the political rabble are spouting, as the polls are getting closer to predicting a hung parliament, the £'s getting stronger !!! 1.54 @ the moment....

[Snapper]

A hung parliament is the worry that seems to have the markets spooked at the moment.

That said, I personally think that £1 = $1 is hugely unlikely. Against the Euro perhaps (although the Euro is not in great shape at the moment due to Greece) but not the dollar. Could you imagine petrol at £2/litre? That's about where it would go at £1 = $1.

[Albert the Frog]

the markets aren't daft and i would expect that as a hung parliament looks very likely they will take it into account ahead of the election rather than wait-if the "expectation" is that there will be a run on the pound in the event of a hung parliament then it will probably happen driven by profit takers and dealers

[DisneyPrincess]

Thank you all for your replies

So do you think we should go ahead and get some currency changed or hand on and see which way things go?

[Katys Grandad]

<blockquote id="quote" class="ffs">quote:Originally posted by DisneyPrincess


So do you think we should go ahead and get some currency changed or hand on and see which way things go?
[/quote]

If I knew the answer to that I wouldn't be letting on anyway!

Seriously, those who are supposedly 'in the know' are no more likely to get it right that we are just tossing a coin.