Reply to: Ideas for holding USD?

[AtW]

I reckon poor old DP feels like a Euro Lottery winner compared next to the majority.

He converted to GBP in 2008 numpty, and shortly thereafter GBP collapsed - DimPrawn wasn't the same ever since: the only comparable character I can think of is the Mad Hatter...

[MarillionFan]

I have to agree with DP here. Be quite useful to spread the risk around a little. I may see if there are any decent currency tracker funds.

I think we are more likely to see $1.40 again as opposed to $1.30.

I think we see a clear picture on this thread though between the haves and the have nots. I reckon poor old DP feels like a Euro Lottery winner compared next to the majority.

Hey DP, tell us about some of the begging letters you've received from posters on the board?

[joey122]

Forget USD hold AUD/JPY as a carry trade and take the interest difference

The most cost efficent way of doing this is via an ETF on the LSE. ETFSecurities do a lot of crosses and these are traded with a razor thin bid offer spread and a 0.4% management fee

Be careful of CGT - Currency is volatile and you can make P&L quickly

Personally I am a buyer of IGLT gilts with the surplus in my business account

[joey122]

YASUKA, do you like movies about gladiators?

What is that supposed to mean? Do you not have anything better to do then pollute peoples threads

[HairyArsedBloke]

GBP/USD = cable, because decades ago, FX transactions was made through copper cable communications between USA and UK...

Yes... There is a cable wire in the Atlantic ocean linking between UK and USA.

YASUKA, do you like movies about gladiators?

[YASUKA]

GBP/USD = cable, because decades ago, FX transactions was made through copper cable communications between USA and UK...

Yes... There is a cable wire in the Atlantic ocean linking between UK and USA.

[TimberWolf]

You do it in an FX trading account as a spot FX trade.

That's a bit out of my league.

[Jog On]

How do you hold AUD? I don't think I've come across UK banks that hold anything other than Euro and USD.

You do it in an FX trading account as a spot FX trade.

[TimberWolf]

Forget USD hold AUD/JPY as a carry trade and take the interest difference

How do you hold AUD? I don't think I've come across UK banks that hold anything other than Euro and USD.

[Jog On]

Forget USD hold AUD/JPY as a carry trade and take the interest difference

[TimberWolf]

http://news.bbc.co.uk/1/hi/business/8523500.stm

See my sig.

Did you use a UK bank and did you use a third party (rather than the bank) to do the conversion to USD to save on high bank charges?

[DimPrawn]

USD will collapse. You know this. Why oh why would you want a USD position to hedge against GBP collapse.

http://news.bbc.co.uk/1/hi/business/8523500.stm

See my sig.

[aussielong]

Why not buy UK property?

Interest rates are low.
Property has come down.
Inflation is forecast in the next few years.

Surely a good time to buy an investment property?

A few Aussies have done this to profit from the strong AUD/GBP.
It's actually reasonably easy to sort out from here.

[HairyArsedBloke]

My tip for holding USD: don't be tempted to a version of 'Loadsamoney'. I tried it once , the septic just look at you like you are a nut case.

[Jog On]

You could put it into a GBP/USD carry trade?

if not USD which currency is worth buying now ?
euro/yen/swiss francs ?

I currently have open trades in:

GBP/CAD - short
AUD/NZD - short
USD/CAD - short
EUR/GBP - long
GBP/CHF - short

(I'm short on the £ in all trades)

They are all cyclical. Unless you have enough money to make short term returns, there's no point.

Poppycock!

What does 'cable' mean?

GBP/USD = cable
EUR/USD = euro
USD/CHF = swissy
USD/CAD = loonie
GBP/JPY = guppy

HTH