Fisher1 Posted January 16, 2017 Share Posted January 16, 2017 Anybody got a clue as to why the pound has dropped from 1.7 to 1.6$ to the pound during the last week? I was about to send some money across when it started sliding so I waited and waited ... I know it's dodgy anyway since the will of the people was announced, but it seemed to have settled at around 1.7 ... Frustrating! Quote Link to comment Share on other sites More sharing options...
vickyplum Posted January 16, 2017 Share Posted January 16, 2017 I assume it's ahead of Teresa May's Brexit speech : "The government is prepared to abandon the single market, customs union and the European Court of Justice in order to achieve a clean break with the EU, Theresa May is expected to say this week." http://www.independent.co.uk/news/uk/politics/brexit-latest-updates-theresa-may-article-50-speech-unity-end-division-global-britain-a7527896.html Quote Link to comment Share on other sites More sharing options...
newjez Posted January 16, 2017 Share Posted January 16, 2017 I assume it's ahead of Teresa May's Brexit speech :"The government is prepared to abandon the single market, customs union and the European Court of Justice in order to achieve a clean break with the EU, Theresa May is expected to say this week." http://www.independent.co.uk/news/uk/politics/brexit-latest-updates-theresa-may-article-50-speech-unity-end-division-global-britain-a7527896.html question is, have we hit the bottom yet? I think we will hit parity with the USD before long. Quote Link to comment Share on other sites More sharing options...
amibovered Posted January 16, 2017 Share Posted January 16, 2017 I saw an economist writing the other week regarding the Pound and Brexit, his opinion was it would bottom out when article 50 is triggered, but really, who knows, a lot of volatility for a couple of years yet I guess!! Quote Link to comment Share on other sites More sharing options...
Wooba Posted January 16, 2017 Share Posted January 16, 2017 Good question.. I'm waiting for the Canadian $ to improve against the Aussie $ to transfer over. But seeing that the CAD/GBP is approaching such a great rate I think I may buy pounds instead! Quote Link to comment Share on other sites More sharing options...
amibovered Posted January 16, 2017 Share Posted January 16, 2017 Good question.. I'm waiting for the Canadian $ to improve against the Aussie $ to transfer over. But seeing that the CAD/GBP is approaching such a great rate I think I may buy pounds instead! but what if the value of the pound drops off a cliff after you have exchanged? Quote Link to comment Share on other sites More sharing options...
Wooba Posted January 16, 2017 Share Posted January 16, 2017 but what if the value of the pound drops off a cliff after you have exchanged? I'll only be transferring a small amount compared to what I am bringing to Australia. I have faith that it will recover and can wait it out. The rate is approaching the best it's ever been according to google finance. That's a buying opportunity which I think is worth risking. Quote Link to comment Share on other sites More sharing options...
amibovered Posted January 16, 2017 Share Posted January 16, 2017 I'll only be transferring a small amount compared to what I am bringing to Australia. I have faith that it will recover and can wait it out. The rate is approaching the best it's ever been according to google finance. That's a buying opportunity which I think is worth risking. Good luck. Quote Link to comment Share on other sites More sharing options...
Fisher1 Posted January 16, 2017 Author Share Posted January 16, 2017 Every time that wretched woman opens her mouth we lose twenty thousand dollars... Quote Link to comment Share on other sites More sharing options...
Rallyman Posted January 16, 2017 Share Posted January 16, 2017 Every time that wretched woman opens her mouth we lose twenty thousand dollars... We are in the same boat Quote Link to comment Share on other sites More sharing options...
newjez Posted January 16, 2017 Share Posted January 16, 2017 I saw an economist writing the other week regarding the Pound and Brexit, his opinion was it would bottom out when article 50 is triggered, but really, who knows, a lot of volatility for a couple of years yet I guess!!I plan to move back into pounds by April. Only question is shares, bonds, cash or commodities? I'm a bit unsure ATM. Quote Link to comment Share on other sites More sharing options...
amibovered Posted January 17, 2017 Share Posted January 17, 2017 I plan to move back into pounds by April. Only question is shares, bonds, cash or commodities? I'm a bit unsure ATM. It's lottery now, is it not? with Brexit and the Don in the mix, volatile year ahead, strap in tight!!!! Quote Link to comment Share on other sites More sharing options...
Guest parleycr0ss Posted January 17, 2017 Share Posted January 17, 2017 But maybe all the bad scenarios are priced in and a bounce back may be in order. Quote Link to comment Share on other sites More sharing options...
amibovered Posted January 17, 2017 Share Posted January 17, 2017 But maybe all the bad scenarios are priced in and a bounce back may be in order. Could be, until the next bombshell! Quote Link to comment Share on other sites More sharing options...
mrbradley1 Posted January 17, 2017 Share Posted January 17, 2017 I agree this is really frustating, I was transferring money this week. Do I know transfer or wait? re Quote Link to comment Share on other sites More sharing options...
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