GBP/USD

[meanttobeworking]

With all the furore regarding the US losing their AAA rating, all the news agencies seem to be missing the major discussion point, which is - should I buy my holiday dollars now or wait until later in the week....

Or will the exhange rate stay the same and my total lack of financial understanding show through?

[eek]

With all the furore regarding the US losing their AAA rating, all the news agencies seem to be missing the major discussion point, which is - should I buy my holiday dollars now or wait until later in the week....

Or will the exhange rate stay the same and my total lack of financial understanding show through?

In theory as the rating reducrs the the currency should get cheaper. However the dollar is the currency people flock to during crises so it doesn't seem to have any impact on the euro or pound.

[alreadypacked]

In theory as the rating reducrs the the currency should get cheaper. However the dollar is the currency people flock to during crises so it doesn't seem to have any impact on the euro or pound.

I think the dollar, euro and pound are sinking at the same rate.
USA and UK have been printing money in sync, euro just sinking.

If you look at the rate with stronger currencies like Japanies Yen or CHF, you can see the real decline in value.

[Platypus]

Buy now.

According to the charts, it hasn't been this good for a while:
XE.com - Free Currency Charts (GBP/USD)

But having said that, it's been around £1 = $1.6 for ages, so may only make a few dollars difference to you whenever you do it.

[meanttobeworking]

Thanks everyone

[AtW]

Buy Gold.

HTH

DimPrawn

[DimPrawn]

Buy Gold.

HTH

DimPrawn

Not yet. ECB will dump gold to buy worthless bonds. Gold price will fall. Buy then.

HTH BIDI

[Jog On]

Commodity Currencies a Refuge as Intervention Riles Havens - Bloomberg

CHF and JPY are doing what they can to try and stem all their currencies getitng too strong, EUR and USD are both having massive issues and it looks like USD isn't the safe haven it always has been any more. The Chinese are buying the Euro and the ECB are doing whatever they can to "bazooka" the problems but they're running out of options and road to keep kicking the can down..

I can't find much about GBP today but I think it's getting stronger, yeah we're pretty screwed as well but at least the coalition saw this as soon as they got in and implemented some measures to avoid the kind of wake up calls we're seeing in Europe and the US...

As the article suggests I'm waiting for AUD and NZD to bottom before going long on them as they were still plummeting as of this morning

I'm loving all this volatitlity - it's f'ing great!