Answers
I'm going to New York towards the end of March and I'm wondering when would be the best time to get my money exchanged. I can change all my money right now or wait to see if the exchange rate will go up. So I guess that's what I'm asking. Is the US Dollar exchange rate likely to go up or down over the next few months. I will be changing Sterling for US Dollars. Thanks for any advice.
If I knew that with any certainty, you could take that money, buy leveraged dollar contracts and buy a first class ticket for yourself. Trouble is, nobody knows the answer to that question.
Nil
I need to change my money asap and am looking for the best exchange rate with no commission!
marks and spencers
I'm going to America in early 2008 and i want to know if the exhange rate will go up or down.
If anyone has any idea thanks!
no one, and no one knows..only thing certain it will go up or down,or is that two??
Go to texas on holiday in july for 5weeks and need to know when the best time to change up my money, the flights are $840 thnks so much! :P
For the amounts you're talking about, you'll be better off looking at where to exchange it rather than when.
The pounds weak, so probably going to remain so as the recession continues. Where to buy currency often makes a difference of up to 7%.
You can see 'Interbank' rates on currency converters like xe.com - the rate you actually get will be between 1% and 6% below this. Basically the closer you get to the airport the worse it will get.
If you bank with HSBC or First Direct or Nationwide, do it with them. Otherwise, do it with M&S.
I have searched everywhere and best i have found is $1.91 to the £1. I want somewhere where i can go and collect locally in Brighton not order online. Does anyone know of any good places?
my brother got Us dollars last week at $1.96 from the post office but he did buy quite a large amount so i would say keep doing internet searches several time per day as some places do special exchange rate offers that only last for the day or week etc. good luck finding the money!!
US dollar falls to 14-month euro low
LONDON — The dollar slid to a 14-month low against the euro Wednesday as investor appetite for risk increased following upbeat comments from Intel Corp. and after a top Federal Reserve official indicated U.S. interest rates would likely remain low for a quite a while.
By early afternoon London time, the euro was trading 0.3 percent higher on the day at $1.4896, just down on the 14-month high of $1.4913 it hit earlier in the session.
Meanwhile, the dollar was 0.5 percent lower against the Japanese currency at 89.20 yen.
As usual since the financial crisis became most acute just over a year ago, the dollar has been sold off heavily at as stock markets have rallied strongly, and faltered more ahead of what was expected to be a strong opening on Wall Street following further signs of an economic recovery in China and optimistic statements from Intel, the world's largest chip maker.
Dollar investments such as U.S. Treasuries are seen a safe haven in times of anxiety. But as doubts fade, money moves out of dollars and into riskier and potentially more profitable investments such as stocks and commodities, sending the dollars' exchange rate down.
RealClearMarkets - AP - Markets - Oct 14, 2009 - US dollar falls ...
By break of dawn afternoon London just the same from time to time, the euro was trading 0.3 percent higher on the day at $1.4896, only down on the 14-month strident of $1.4913 it hit earlier in the seating.
Meanwhile, the dollar was 0.5 percent tone down against the Japanese currency at 89.20 yen.
As workaday since the pecuniary danger became most sharp legitimate over a year ago, the dollar has been sold off heavily at as capital markets have rallied strongly, and faltered more winning of what was expected to be a hefty opportunity on Protection Thoroughfare following further signs of an cost-effective bettering in China and expectant statements from Intel, the epoch's largest interpose maker.
Dollar investments such as U.S. Treasuries are seen a secure haven in times of solicitude. But as doubts die out, wherewithal moves out of dollars and into riskier and potentially more well-paying investments such as stocks and commodities, sending the dollars' exchange rate down.
Further undermining the dollar were comments from the U.S. Federal Remoteness's evil-doing chairman Donald Kohn.
In a parlance in St. Louis, Kohn hinted that interest rates in the U.S. — currently the benchmark federal funds rate stands at an all-convenience life low of between 0-0.25 percent — would stay put low for an extended time and that a "V-shaped restoration is not the most liable to development."
Neil Mackinnon, epidemic macro strategist at VTB Property in London, said as extensive as the Fed continues its expanding nummular strategy then the dollar would carcass under demands, as shabby dollars are being tempered to to ready money potentially lucrative purchases in beasts and commodity markets.
"Until the Fed turns off the liquidity tap, these trends will crumbs in set up and the good chance is that the dollar will proceed to fall," he said.
The minutes to the last joining of the rate-setting Federal Exhibit Retail Board are due to be published later and the markets will be closely monitoring them to get a clearer aim on how the Fed plans to sooner disavow capital measures enacted since the probity critical time began over two years ago.
...News
US dollar falls to 14-month euro lowThe Associated Press - Oct 14, 2009
DAWN.comThe question is, will Timothy Geithner, the US Treasury secretary, be any more likely to support the dollar's exchange rate than his predecessors, WORLD FOREX:Euro Hits 14-Mo High Vs Dollar On Low US RatesYen Gains Most in 2 Weeks on Falling Stocks, Producer PricesDollar breaks 95-cents US mark - -all 474 news articles »
Reuters - Oct 14, 2009
The euro has become almost 20 percent more expensive in dollar terms since the start of the year, rising to 14 month highs EUR= against the US currency on and more »International Business Times - Oct 14, 2009
The euro climbed to a 14-month high versus the US dollar on the view that US interest rates will stay low, while optimism about a global recovery tarnished and more »Brock Press - Oct 14, 2009
ReutersThis is despite the Bank of Canada's policy to maintain the current lending rate well into 2010. Canada's dollar, as well as the S&P/TSX Composite Index, 'Shock absorbers' prevent volatility in gold priceDollar and inflation fears 'to keep Gold Prices advancing'Gold Futures Approach Record High After Dollar Resumes Slump - -all 736 news articles »
Bloomberg - Oct 14, 2009
Dollar Drops to 14-Month Low on 'Dovish' Kohn, JPMorgan Profit“A correction seems likely to us by year-end. For foreign-exchange, this implies risk of a rally in funding currencies, the dollar and the pound, and more »