Pound v Dollar, latest

Looks like the pound is still dropping. Down to $1.23 now.  So, in the last year my rent has dropped considerably (when converted to dollars). Good for me, bad for the UK economy, I'd think.

I transferred a chunk-o-change late last week when it hit $1.24, thinking it was going to hold steady for a while, too. Shoulda waited a bit longer.

And this is where we are today...



Each vertical bar is a day.  The right-most bar is today, so it's not final, yet.  But the value in the box on the right is the rate at the moment I took the screenshot.

Yeah, I saw that. In the $1.21 range. And still dropping.

The New Prime Minister was in Edinburgh to meet the First Minister yesterday. And got seriously boo'd and hissed at by the crowds outside. All that was missing was the pitchforks and torches....

This is nuts.

[How did you get your chart to display inside the text box, in addition to showing as an attachment?]

[How did you get your chart to display inside the text box, in addition to showing as an attachment?]

I attached the image to the post, then posted it.   Then I copied the image location (click on the attached image to open it, then copy its URL), and then edited my post to insert the image in the place where I wanted it using the link I just copied.  I go to ridiculous lengths to make my posts look the way I want.   

Cool chart. I did transfer $5,000 today which came in at £4,087. I used TransferWise.

Cool chart. I did transfer $5,000 today which came in at £4,087. I used TransferWise.

It's been a bit frustrating, because I wanted to move some money back the other way.  I decided to get out of the Premium Bond business (my husband has plenty, and his winnings wouldn't be taxed, whereas mine would), and move the money into a Citi savings account earning ~3% APY.  But I can't do that 'til I convert the money back into USD, and I just can't do that at these rates.  So I wait...

It's been a bit frustrating, because I wanted to move some money back the other way.  I decided to get out of the Premium Bond business (my husband has plenty, and his winnings wouldn't be taxed, whereas mine would), and move the money into a Citi savings account earning ~3% APY.  But I can't do that 'til I convert the money back into USD, and I just can't do that at these rates.  So I wait...

Yes, that’s the dilemma isn’t it!  The money in our brokerage and IRA accounts makes far better returns than if we moved it the UK because being USCs we can only keep it interest bearing accounts because the IRS treats stocks and shares funds as PFICs and taxes them punitively

Another 10 months or so and I will have all my retirement money moved this way. This is great for me.....at this time.  But...... what goes around comes around...... At some future date I'm sure it will bite me in the butt in the other direction. Don't try tooooo hard to predict the movement of the exchange rates, a bit of a fools game.

Don't try tooooo hard to predict the movement of the exchange rates, a bit of a fools game.

Truer words have not been spoken!

But...... what goes around comes around......

So true. But not generally in my direction. I paid for 4 years of (Scottish) university with exchange rates around $2 per £. Then I graduated in 2008 and started earning in £... and I've pretty much been on the losing end ever since...

In my time in the UK I've seen the rate almost $1 to £1 (early 80's) all the way to over $2 to the Pound. I've been lucky THIS time. I'm here for good......so whatever the exchange rate is.....I hope for the best and if it goes the other way (hopefully not in the next 10 months) I just close my eyes and deal with it. I can easily cut a couple hundred Pounds out of my shopping bill every month just by cutting out junk food, diet Coke and beer. We just bought a new car (Suzuki Vitara).....filling that sucker up is over £50 easy. But.....we have only been averaging 5500 miles a year since we moved back so it's not that big of an issue. We picked the car up on the 19th......still haven't hit 200 miles. 

This always happens just in time when I need to move money around though never this much.. super frustrating

My US student loans are much more expensive now. *sigh*

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Of course, it's already hit prices.  I purchased two one-litre square Kilner storage jars two weeks ago and paid about £4.55 for each. I decided yesterday that I wanted two more. They are now, cheapest price on Amazon, over 70 pence more. From the same vendor.    (Waiting for a sale.)

Fortunately I won't need to buy a lot of "stuff", but I do see the writing on the wall there.

Of course, it's already hit prices.  I purchased two one-litre square Kilner storage jars two weeks ago and paid about £4.55 for each. I decided yesterday that I wanted two more. They are now, cheapest price on Amazon, over 70 pence more. From the same vendor.    (Waiting for a sale.)

Fortunately I won't need to buy a lot of "stuff", but I do see the writing on the wall there.

Amazon play with their prices all. the. time. It annoys me no end!  I feel like if I take too much interest in an item, they automatically put the price up!
If they do that, I just take it out of my cart and *wait until later, I won't be held hostage like that!

* of course the price may not go down again later but by that time I easily have perspective on whether or not whatever it is is worth to me whatever price they are now asking for it!