AAARRRRRGGGG

F4, anyone who can predict currencies is a very VERY rich person.  It's the most difficult forecasting in the world - no doubt.

Hi,

Ok ok...  I can definitely, absolutely, totally and accurately tell you which way the Pound will go Vs the US Dollar ....






It's going to go .....



That way!..     


There's no guarantee it'll 'recover' to the 'usual' rate of around £1 = $1.60, it might go back to £1= $2 or, it might over the next few years, or sooner dip lower and shock horror be worth lower than the Euro!

There's good economic news every so often, and there's still a lot of uncertainty, the period of now and March 2019 will be closely watched by many for sure!

A weaker pound means potentially more investment money into the UK as the bigger(est) investors look to get more value for their money. The risk of course is that if the economy overall goes in the direction of lower, then investments may be pulled out of the UK.

For indvidual's looking to move foreign currency, then a few years ago ( I think it's still available, but not sure 100%) then some currency exchange specialists would allow a 'lock in' rate. Some people did that when the pound was worth $2 and I think the lock in time was at least a few years. They're laughing now of course. Opposite way round isn't so good but if anyone 'locked in rates when £1 = $1.23 ish, they'll be laughing !

Lots of people carefully watching currencies, markets, house prices, interest rates, inflation rates, employment aspects who've never really taken much notice before.

Fingers crossed it's eventually a 'soft' Brexit...

Cheers, DtM! West London & Slough UK!

It is what it is.

We brought over loads of money in 2016 to buy our house in January 2017. Earlier this month I transferred $10k and will continue to need to move money over since the vast majority of our income comes from pensions in the USA. The huge drop in 2016 and staying low for months was a large slice of fortune as we were looking to buy a house in 2017, and had already sold our US home. I never expect such good fortune again so will just move money when we need it. BUT, if it does drop a lot I have plenty of money sitting in Roth accounts (tax free) that I can pull from.

spare a thought for all of us millennials paying off student loans in $ but being paid in £ and seeing those bills going up every month (except this month!)

spare a thought for all of us millennials paying off student loans in $ but being paid in £ and seeing those bills going up every month (except this month!)

Yep.....as usual, when the exchange rate changes it helps some people and hurts others. In just under a year the Pound has gone up almost 15 cents, hurts me...helps you. For the next 4 years I will be moving around $13,000 a month over to the UK (emptying my US retirement account). If the Pound goes up......I'll still be moving that money since I have no idea whether the Pound will go up or down. Ifffffff I knew for sure that Brexit would happen (and a hard one at that) I would let the money sit in my US bank account until after March 2019...I would expect the Pound to drop again. But, the only thing I know for sure....is that I don't know sh*t.

spare a thought for all of us millennials paying off student loans in $ but being paid in £ and seeing those bills going up every month (except this month!)

Yes indeed, all the best, I hope the £ settles down to more historic levels.

Yes indeed, all the best, I hope the £ settles down to more historic levels.

Can I get you to put that off for another 4 years? 

Can I get you to put that off for another 4 years? 

I expect it will take at least that long and that it will be very turbulent over the next couple of years at least.

Turbulent.........I don't know much, but I think I would put some money on that bet.

Do you have to bring the money over now? If you don’t I would sit on it until the exchange rate recovers. With a house sale you’re talking about thousands of a difference.

We were planning on bringing it in the spring when we are ready to buy here in London. Husband initially brought the money from the UK when he joined me in CA when rate was about $1.70/£, so as long as it doesn’t go back to that (or higher) we won’t lose...but I’m still just annoyed in a very selfish way.




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