gone west Posted September 20, 2005 Share Posted September 20, 2005 Now that sterling has slipped below $1.80, where is the next stop? 1.77, 1.75? Will this keep the BoE from cutting rates? Will Merv have to write that letter to Gordon? Join us next time on "As the Cable Crumbles"... Quote Link to comment Share on other sites More sharing options...
andrew_uk Posted September 20, 2005 Share Posted September 20, 2005 US rates are going up without stopping (lots expected a Sept pause) UK desperately wants to drop rates (shame about inflation) Euro is static The pound will fall long term but expect some strong short term (3 month) moves as market makers manipulate. I think in 3 years we'll hit 1.60. This is sharp but look long term and hitting 1.30 wouldn't be crazy over a suitable time span. We are at a high at the moment. Quote Link to comment Share on other sites More sharing options...
OzzMosiz Posted September 20, 2005 Share Posted September 20, 2005 So changing GBP to USD would be a good thing then!! Quote Link to comment Share on other sites More sharing options...
gone west Posted September 20, 2005 Author Share Posted September 20, 2005 So changing GBP to USD would be a good thing then!!<{POST_SNAPBACK}> Change into resource currency. CAD or AUD. Quote Link to comment Share on other sites More sharing options...
cgnao Posted September 20, 2005 Share Posted September 20, 2005 Buy gold, swiss franc and euro on weakness. Quote Link to comment Share on other sites More sharing options...
cgnao Posted September 21, 2005 Share Posted September 21, 2005 http://www.fxstreet.com/nou/content/103020...xcm&dia=2192005 Wednesday, September 21, 2005 11:18 GMT Daily Report By Sam Shenker Forex Capital Markets LLC http://www.dailyfx.com Dollar Retreats As Emotions Run Wild • Euro Makes Move Above 1.2200 • British Pound Climbs Back Above 1.8000 • Swiss Franc The Leads Majors Quote Link to comment Share on other sites More sharing options...
numper Posted September 21, 2005 Share Posted September 21, 2005 Does Anyone know: Is it possible to save money in Australian or Canadian dollars? How would I do this? Does anyone know any "interest paying" savings accounts that can transfer my GB Pound sterling into Australian or Canadian dollars? Can someone PLEASE POST A LINK: If they know of such a facility Thanks in advance Quote Link to comment Share on other sites More sharing options...
cgnao Posted September 21, 2005 Share Posted September 21, 2005 Does Anyone know:Â Is it possible to save money in Australian or Canadian dollars? How would I do this? Does anyone know any "interest paying" savings accounts that can transfer my GB Pound sterling into Australian or Canadian dollars? Can someone PLEASE POST A LINK: If they know of such a facility Thanks in advance <{POST_SNAPBACK}> http://www.barclays.com/internationalperso..._12_1_short.htm Look for "Currency Call Deposit Account" Quote Link to comment Share on other sites More sharing options...
numper Posted September 21, 2005 Share Posted September 21, 2005 Thanks for link chnao Does anyone know of any other facilitie for exchanging my GB Pound Sterling into Australian Dollar or Canadian Dollar as stated above? Unfortunately this Barclays service only offers LOW interest rates! Any idea's PLEASE for Aussie or Canadian Dollar savings accounts that offer decent rates of interest? PLEASE POST A LINK : IF You know Thanks in advance Quote Link to comment Share on other sites More sharing options...
gone west Posted September 21, 2005 Author Share Posted September 21, 2005 Thanks for link chnao Does anyone know of any other facilitie for exchanging my GB Pound Sterling into Australian Dollar or Canadian Dollar as stated above? Unfortunately this Barclays service only offers LOW interest rates! Any idea's PLEASE for Aussie or Canadian Dollar savings accounts that offer decent rates of interest? PLEASE POST A LINK : IF You know Thanks in advance <{POST_SNAPBACK}> CAD rates are low everywhere. Even my Canadian ING account only pays 2.4%. Quote Link to comment Share on other sites More sharing options...
MarkG Posted September 22, 2005 Share Posted September 22, 2005 Yeah, my Canadian dollar account with HSBC pays about 1.75%... you won't get much interest anywhere. On the other hand, in sterling terms I'm up a few percent already since transferring the money... but assuming the price of oil drops off over the next few months that will probably reverse. I think in 3 years we'll hit 1.60. This is sharp but look long term and hitting 1.30 wouldn't be crazy over a suitable time span. The pound will drop over the next few years, but I suspect the US dollar will drop at least as fast. US interest rate rises may even make it drop faster as they blow away the housing bubble and consumer spending. Quote Link to comment Share on other sites More sharing options...
Guest Riser Posted September 23, 2005 Share Posted September 23, 2005 (edited) I think both Sterling and the Dollar are going to tank big time, although I now suspect the Dollar may go first. Brown acts as a counter indicator for investments, he managed to sell half the UK gold reserves at a low in the gold price and the following cart shows he has been backing Blairs mate Bush buying around $60 Billion Dollars , increasing our exposure to a falling dollar. Looking at the chart no other country appears to have increase their exposure by anything like 60% over the same period. http://www.ustreas.gov/tic/mfh.txt UK Jan 2005 $101 Bln UK July 2005 $160 Bln Edited September 23, 2005 by Riser Quote Link to comment Share on other sites More sharing options...
MarkG Posted September 23, 2005 Share Posted September 23, 2005 (edited) Down to $1.78 today. I'm real glad that most of my money is out of Sterling now... just wondering whether I should shift my ISA too, or whether the tax-free interest will compensate over the next year. Maybe I'll start shifting more into gold if it goes below $450. Edited September 23, 2005 by MarkG Quote Link to comment Share on other sites More sharing options...
numper Posted September 23, 2005 Share Posted September 23, 2005 How can I transfer my Sterling into Aussie or Canadian dollars with a reliable bank? If anyone has a link for a reputable bank, I would be much appreciated Thanks in advance Quote Link to comment Share on other sites More sharing options...
MarkG Posted September 23, 2005 Share Posted September 23, 2005 I'm using HSBC in the Channel Islands, but someone posted a while back about banks with lower minimum deposits and lower fees: Citibank maybe? http://www.offshore.hsbc.com/1/2/home Also they took a month to get my account set up due to forgetting to send out the PIN for Internet banking! Quote Link to comment Share on other sites More sharing options...
alexays Posted September 24, 2005 Share Posted September 24, 2005 Frankly I don't think its worth the bother setting up foreign bank accounts. I would tend to go for high-yielding Euro or Asian shares such as BASF. Bit more risky, but more exciting as well Quote Link to comment Share on other sites More sharing options...
MarkG Posted September 24, 2005 Share Posted September 24, 2005 (edited) True, but if you want to get out of sterling with a fairly low risk then a foreign currency account may be a better bet than foreign shares (and personally I have about as much money in foreign shares than foreign currency already). It's rare for the pound to rise so fast that you couldn't transfer the money back before you lost a significant amount, whereas shares can drop 50% or more in a day... also you may get more interest if the BoE cut rates again while the rest of the world is increasing. On the other hand, you do lose about 1% every time you transfer the money so you don't want to be doing it on a regular basis. Edited September 24, 2005 by MarkG Quote Link to comment Share on other sites More sharing options...
Charlie Don't Surf Posted September 24, 2005 Share Posted September 24, 2005 Are my European and Asian unit trusts (with UK companies) linked to the foreign currencies and therefore independent and safe from sterling tanking? Quote Link to comment Share on other sites More sharing options...
gone west Posted September 26, 2005 Author Share Posted September 26, 2005 Eyeballing this chart: update ... I would say it is headed for $1.70-1.72, and maybe within a few short weeks. If it goes below $1.69, it could fall below $1.60, and even $1.50 IMHO Looking very bearish. Quote Link to comment Share on other sites More sharing options...
gone west Posted October 1, 2005 Author Share Posted October 1, 2005 Looking very bearish. Now 1.765. Loonie at 2.052. Quote Link to comment Share on other sites More sharing options...
Crazy88s Posted October 10, 2005 Share Posted October 10, 2005 Apparently RBS are predicting 1.68 Q1 2006 Quote Link to comment Share on other sites More sharing options...
gone west Posted October 10, 2005 Author Share Posted October 10, 2005 Apparently RBS are predicting 1.68 Q1 2006 Question is will that be in an all-round dollar bear market? If it is, ouch! Quote Link to comment Share on other sites More sharing options...
andrew_uk Posted October 10, 2005 Share Posted October 10, 2005 I keep with my original prediction. It's falling but with some blips on the way there was a small one last week (+2cents). The issue is that at some point the central banks will dump the dollar, so you need to guess the bottom. Personally there's a lot of vested interests both in the US and Japan/China that means the dumping will the later rather than sooner. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.