Reply to: Should we be selling all pounds asap ?

[Francko]

Indeed, is true, no one knows how fast sterling is going to go down. Down like a dropped brick? Or down like one of those tank buster rockets that goes down and at the last moment explodes in a great cloud of down-ness, totally sterlising the contents...

If there was 100% certainty about that, then you would be sure to make money since all you need is to exchange into another currency and change back once the fall has happened. However, you'll soon realise that there is no certainty about anything in this world.

[Purple Dalek]

Newbies, eh?

Yeah, they should be exterminated.

[cojak]

In my opinion Andyw is an owners creation , as many others here , designed to judge members feelings about language on this forum.

Newbies, eh?

[DodgyAgent]

Do you mean sterling? A bit too late for selling that, it might fall further 15-20% though but the solution to this problem is to earn foreign currency that will convert into lots of pounds rather than convert small amount of pounds into even smaller amount of foreign currency.

showing a grasp of economics AtW. Practice makes perfect

With a falling exchange rate Britain now has a greater chance of coming out of this recession than other Euro countries. The Uk's exports will be cheaper, good value on properties and businesses will attract external investment and tourists will flock here.

[tay]

This poll is flawed.

The pound to go down against what? All the other currencies in thew world? The Euro only? The USD only? A basket of selected currencies?

This poll is economics for idiots.

[BrilloPad]

Speculating on exchange rates is the riskiest thing that you can do as nobody can ever know what is going to happen (of course, apart from atW and his infinite wisdom).

If you plan to stay in the UK it makes sense just to forget about it. It might make more sense for an expat to invest now in sterlings and convert all the savings if he/she plans to return. For anybody else, it is just too risky to play with these things.

Indeed. It was speculating on BTLs that got us into this mess. As santaclaus said - you need at least 3 years experience to stand any chance.....

[BrilloPad]

Eh?

I think he said "andyw is a sockpuppet designed to test admin's resolve on the swear filter".

But I could be wrong!

[Lockhouse]

I've got two weeks in the US booked in Feb - if it goes down to £1 = £1.20 or lower I'm going to cancel as none of the hotels are paid for yet.

[ace00]

You could also buy oil & gold. Oil is cheap now.

[Fred Bloggs]

Too late now. Best bet would be to get a job paid in Euro's for now. But then by the time you've spent all that time and money on flights/trains/taxis/hotels, might just as well stay at home earning £'s. I used to buy a fair bit of stuff from the US regularly by mail order, now I don't.

[Purple Dalek]

Speculating on exchange rates is the riskiest thing that you can do as nobody can ever know what is going to happen (of course, apart from atW and his infinite wisdom).

Indeed, is true, no one knows how fast sterling is going to go down. Down like a dropped brick? Or down like one of those tank buster rockets that goes down and at the last moment explodes in a great cloud of down-ness, totally sterlising the contents...

[Green Mango]

I am sure we can pretty sure the short term trend for the £
is down.

Gordon Brown and Mervyn King have made sure of that.

I wonder if we will see parity with the Euro

[Francko]

But , there are gloomier and gloomier forecasts every day about the pound. You are indeed right though that working does help.

Speculating on exchange rates is the riskiest thing that you can do as nobody can ever know what is going to happen (of course, apart from atW and his infinite wisdom).

If you plan to stay in the UK it makes sense just to forget about it. It might make more sense for an expat to invest now in sterlings and convert all the savings if he/she plans to return. For anybody else, it is just too risky to play with these things.

[DiscoStu]

In my opinion Andyw is an owners creation , as many others here , designed to judge members feelings about language on this forum.

Eh?

[juststarting]

Do you mean sterling? A bit too late for selling that, it might fall further 15-20% though but the solution to this problem is to earn foreign currency that will convert into lots of pounds rather than convert small amount of pounds into even smaller amount of foreign currency.

But , there are gloomier and gloomier forecasts every day about the pound. You are indeed right though that working does help.