Todays tourist £/$ is $1.33 !!!

[juliebro]

the 'experts' have no idea.

Absolutely. We're in unchartered territory as far the economy goes at the moment,and Asda creating 7,000 jobs ain't going to fix things. For every new store they build, how many small shops will close?

 

[Andrew DEREK UK]

According to an "expert the GBP is considered oversold at the moment", i.e too low.

The background to this, is an 'expert' who has made a bob or two betting against £ up/down in the past, and for recent moth been for-telling the reduction of value in the £, by 25%, is 'no longer' betting on a further reduction in value, so that is a bit off good news.

He said sterling tends to go too far, either high in value IE $2 to the £ before and also 'too low' he personally feels its gone too far, lets hope so, what we need to see is now the USA recovery program and if they have more skeletons in the cupboard. Also the $ is too Strong for them so they will keep interest rates low and take action to ease this strength as it will hit their exports.

The question is whether foreign investors will buy government stock here, ie our rising debt, if they think they could loose on their return by a further downslide, but if they feel its rock bottom, they will start to come back to make a profit.

 

[gemmybear83]

Fairfx is on 1.42 today

 

[wayneg]

Interbank rate $1.4561, looks better than last week. When do I pay balance of cruise? will cost me £81 less now compared to last weekend. Which way is it going to go?

 

[gemmybear83]

Interbank rate $1.4561, looks better than last week. When do I pay balance of cruise? will cost me £81 less now compared to last weekend. Which way is it going to go?

I hate these kind of decisions! I think the most scientific way would be to toss a coin!

 

[oceanscape]

I'm hanging out until $1.5 since that's apparently purchasing power parity. Hopefully will get there soon!

 

[Mermaid2sea]

Booked last night paid deposit ...I needed to make it feel real....bettter rate than it was earlier in the week....fingers crossed it will still will be going up..

 

[natalielongstaff]

I'm hanging out until $1.5 since that's apparently purchasing power parity. Hopefully will get there soon!

so am I

 

[fearfall]

i am waiting for it to reach $1.50 then it is all systems go

 

[Natasha&Matt]

Fairfx is on 1.42 today

Still the same

 

[Alessa V]

i was looking at the exchange rate forcast they think it will reach 1.6 by june lets hope so eh

 

[madmumof2]

1.43 on fairfx now.

 

[martinrmn]

I would be happy if it made it to 1.6 as I am not going until December. I will probably buy some then and hope for a better rise by December. Fingers crossed.

 

[madmumof2]

I'd be happy with 1.50! I'm going in October, so am paying off the holiday then saving for spending money, which should start around June. Hopefully it's gone up by then.

It's 1.4350 now.

 

[madmumof2]

1.4450!

 

[orangetiggs]

our base rate has just been dropped so the rate might go down a bit after that news

 

[wayneg]

our base rate has just been dropped so the rate might go down a bit after that news

Its been on skynews, some expected a larger cut so market more relieved, they had already accounted for the drop so exchange has risen slightly.

You can see the jump at 12 moon.
http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/currency/11/12/intraday.stm

 

[madmumof2]

'As expected the Bank of England, Monetary Policy Committee has cut rate by 50 basis points to 1%. Sterling has rallied on the news, initially the risk was to the down side i.e. a cut of greater than 0.5% was a possibility. Against the US dollar, the pound rallied from $1.45 to over $1.4650. Against the Euro, sterling rallied from 1.1260 to over 1.1380. The pound has finally got the momentum to push through key resistance levels, currently trading at new highs for the year against the Euro.'

 

[dynamite100]

So glad I bought this year's spending money at the start of last year, at $1.98.

 

[madmumof2]

1.4525 this morning! It's going up quite quickly. I wouldn't be surprised if it pretty much stopped now, but would love it to carry on going up!