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Sterling Back Below $1.80

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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"...

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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.

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Does Anyone know: :blink:

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

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Does Anyone know:  :blink:

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

http://www.barclays.com/internationalperso..._12_1_short.htm

Look for "Currency Call Deposit Account"

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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 :rolleyes:

Thanks in advance

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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  :rolleyes:

Thanks in advance

CAD rates are low everywhere. Even my Canadian ING account only pays 2.4%.

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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.

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Guest Riser

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 by Riser

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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 by MarkG

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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 :rolleyes:

Thanks in advance

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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 :)

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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 by MarkG

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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.

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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.

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  • 301 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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