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nicolak

Pound/dollar

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Hi everyone

I would be very grateful for any advice on the pound/dollar rate. Do you think the pound will sink any lower against the dollar? I am holding dollars which I brought last year and am wondering whether I should sell now, or with all the bad news coming out of here (UK) and the new president etc in the US, will the pound fall further against the dollar.

Many thanks for any thoughts/advice on what I should do.

I am a newbie posting not an expert so please nothing too complicated or you will lose me. :lol:

Regards

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We just brought back $85k last Friday at $1.45. HOW STUPID (and out of pocket) do I feel given today's exchange!?!?!?!?

I've been watching it go up and down for ages and then the second I take the plunge, it strengthens like there's no tomorrow. That's currencys for you, as the last chap said. Good luck with it.

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My view = GBP/USD parity Jan next year, if not earlier.

There you go.... I said it again! (Mad old Yoss, first it's Euro parity (18 months ago), then it's USD parity)

Yeah yeah yeah, same old, same old. (YAWN)

Yip Yip, I am a nutter...

Yip Yip...but a thankful nutter that's avoided GBP.

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Thanks for the replies guys.

The graph is pretty scary DrGuid, the pound has sank like a stone already. I wonder what will happen now it's gone under 1.40.

Vindicated, that's a shame, but typical. It's so hard to know what to do for the best. I was considering selling the dollars at 1.52 and I am so relieved I didn't.

Thanks Yoss, parity doesn't seem possible does it? How have you managed to avoid sterling have you invested abroad?

Funnily enough I have brought property abroad and would make on the exchange rate alone if I could sell. Maybe I should sell up here and go and live in the sun!

Any other comments anyone.

Many thanks

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Reading the forum, I seem to be the only person thinking of selling dollars for pounds. Everyone else seems to be getting rid of sterling. I think I should hold on a while longer and see what happens.

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The pound is the last currency I would buy. It's one of the worst currencies in the entire world, as the UK economy have no fundamental strength. Everyone in the UK seems to think that it's worse in the US, but it's much much much worse in the UK. They are going to drop rates to 0 %, that will just weaken the pound. Then they will print money to buy crap. That will weaken it further. Right now, I think the commodity based currencies, like the Australian dollar or the Norwegian krone is going to do much better. Currencies like the norwegian krone, has been to all time lows against the Euro, and there is some limits to how far they let it drop, Norway is having a surplus like 20 %, no national debt, large oil fund, fundamentally it's a strong currency, it have probably bottomed out.

Also see the volume increase in the buying of the long oil fund, the increase in volume, means that oil is around a bottom. It's the same sentiment that is driving USO, that is driving the commodity based currencies like the krone, because a bottom in commodities drive foreigners to buy these currencies, and pick cheap stocks in these markets, that also indirectly lift the currencies.

http://finance.yahoo.com/q?s=uso

Edited by carseller

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The pound is the last currency I would buy. It's one of the worst currencies in the entire world, as the UK economy have no fundamental strength. Everyone in the UK seems to think that it's worse in the US, but it's much much much worse in the UK. They are going to drop rates to 0 %, that will just weaken the pound. Then they will print money to buy crap. That will weaken it further. http://finance.yahoo.com/q?s=uso

Correct on all counts.

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Well it looks like I messed up. £/$ up to 1.472 now, should have sold my dollars when they were 1.36 just after the US election. It's great with hindsight. Anyone got a crystal ball!

Can anyone out there offer me hope on the pound falling anytime soon? I keep looking and hoping but the pound is going up and up.

Also I was considering opening a dollar account and paying some of my sterling wages in there to get out of sterling and into dollars. Any thoughts

Thanks

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Well it looks like I messed up. £/$ up to 1.472 now, should have sold my dollars when they were 1.36 just after the US election. It's great with hindsight. Anyone got a crystal ball!

Can anyone out there offer me hope on the pound falling anytime soon? I keep looking and hoping but the pound is going up and up.

Also I was considering opening a dollar account and paying some of my sterling wages in there to get out of sterling and into dollars. Any thoughts

Thanks

I am not giving you investment advice.

What price did you buy your dollars at? If it is close to $2 then you have done well. One option is to take some of your profit now and leave some on to see if you can get more. From the perspective of a currency trader, you can't call the top or the bottom easily. There is a good chance the pound will rise to at least $1.53 before deciding to continue downwards, or it may continue upwards from there. There is no way to know for sure. It has moved a great deal in a short space of time, so it may well stay in a range for a while yet.

From a fundamental viewpoint, there doesn't seem to be much hope for the pound in the long term. Holding out for parity is not an insane idea. But you do need to be able to hold and wait patiently. Difficult to do when you see the pound cilmb and climb in the meantime.

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Well it looks like I messed up. £/$ up to 1.472 now, should have sold my dollars when they were 1.36 just after the US election. It's great with hindsight. Anyone got a crystal ball!

Can anyone out there offer me hope on the pound falling anytime soon? I keep looking and hoping but the pound is going up and up.

Also I was considering opening a dollar account and paying some of my sterling wages in there to get out of sterling and into dollars. Any thoughts

Thanks

Stick with the dollar over the pound. The pound is already falling again.

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anyone got any views on where £ / CAD$ will be in the short term? Its been hovering around the 1.78 mark for a while - got a trip planned this summer and wondering if i should get my spending money now or wait ?!

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its so hard to predict lately, literally every forex report I read contradicts the next, might be an idea to split your money into a few currencies,

GBP/USD, or Cable has been range trading nicely lately. It hit a high last week, and will prolly fall to around 1.6300 ish before climbing back up the hill. I've been short Cable for the past few days, but am now looking for the double-bottom.

It will continue in this vein for a few weeks to come at least, up and down from 1.6300 ish to 1.6800 ish.

With GBP/CAD, this has flown up so much recently it's totally overbought, so expect some small decline, All technical crosses point toward a fall. USD/CAD looks a bit floppy as well, so expect some strength coming back into the Loonie, but with their current financial problems, it won't be too much to worry about.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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