ONLINE CURRENCY EXCHANGE

Sara · November 12, 2009, 06:30:53 PM

I hate to sound so negative, but I received this from my foreign currency trader last night & it looks like the £ is going to drop yet again.

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Today saw the release of the Bank of England Quarterly Inflation Report which unfortunately forecasts inflation in the UK is due to rise sharply in the coming months. This has proved very damaging to the Pound which has lost ground against all major currencies, and follows the worrying news from Fitch that the UK's AAA credit rating was the one most at risk of all leading economies. The news has knocked Sterling off a 3 month high against the Dollar on Monday morning and nearly 2 cents from the highest point against the Euro in the last month. Even more worrying was Mervyn King's assessment that the UK economy wouldn't reach pre-recession levels again until late 2011 which took the markets by surprise and is likely to keep pressure on Sterling- good news if you are bringing money back into the UK but will also mean those of you holding out for better levels to send money overseas in the next few months are unlikely to get much in the way of stocking fillers!

Friday sees some important GDP data for Germany which will have an important influence on anyone with interests in the Euro, and next Wednesday sees the release of the Bank of England Minutes from their meeting earlier this month which again could be key to the short term future of Sterling.

Alan and Jan · November 13, 2009, 11:08:14 AM

Early trading this morning showing Sterling up against euro and dollar. Crown Currency currently offering 1.1455 euro against GBP for delivery between January and 25 April

vivian · November 13, 2009, 01:32:35 PM

1.1501 between jan & april but dont know weather to take a chance or not. Wish we had a crystal ball. Viv

Sandy x · November 13, 2009, 08:22:20 PM

I can't see it going up Viv....all the predictions are it will go down.

riggers · November 13, 2009, 08:48:28 PM

Wait till i've bought some Viv, it always goes up after.

riggers.

Alan and Jan · November 17, 2009, 02:23:43 PM

Sterling on a two month high against euro. Crown Currency now offering 1.1525 euro to 1GBP for delivery from January to April.

martin-w · November 17, 2009, 05:35:36 PM

I've hung onto some Euros I had left over from my October visit along with some Travelers cheques, hope that will offset any nasty changes a bit! I think its going to be a long climb back to the 'old' exchange rates, if we get there at all!

Martin.

TerryW · November 19, 2009, 03:37:48 PM

I had this link emailed to me today.

http://www.lovemoney.com/news/travel/the-best-way-to-get-your-foreign-currency-4186.aspx?source=1000421

Because we book independently and have to pay for the Hotel when we get there a pre-paid currency card looks like it could be the best option.

Has anyone used them yet?