legoman Posted June 2, 2016 Share Posted June 2, 2016 I see the exchange rate has been fluctuating a lot depending on how the polls go re the EU vote, just sold my house and now worried I will lose bigtime on exchange rate when the time comes should we leave, looks like its going to be a close one Quote Link to comment Share on other sites More sharing options...
Ferrets Posted June 2, 2016 Share Posted June 2, 2016 I see the exchange rate has been fluctuating a lot depending on how the polls go re the EU vote, just sold my house and now worried I will lose bigtime on exchange rate when the time comes should we leave, looks like its going to be a close one Will be a close one for us too, complete second week of June. There is a clear expectation that the money markets will be running their own exit polls (as much as they can) and that we will probably see the likely outcome of the vote around 7/8pm as the markets start to move based on anticipated result. Expectation is a big swing either way. We are tempted to move half our funds immediately and then hedge with the other half to see the outcome. On the other hand we could be gambling away a good position for us, so the sensible thing would be to move it all in case the pound heads towards $1.50. Certainly interesting times!! Quote Link to comment Share on other sites More sharing options...
legoman Posted June 2, 2016 Author Share Posted June 2, 2016 Will be a close one for us too, complete second week of June. There is a clear expectation that the money markets will be running their own exit polls (as much as they can) and that we will probably see the likely outcome of the vote around 7/8pm as the markets start to move based on anticipated result. Expectation is a big swing either way. We are tempted to move half our funds immediately and then hedge with the other half to see the outcome. On the other hand we could be gambling away a good position for us, so the sensible thing would be to move it all in case the pound heads towards $1.50. Certainly interesting times!! I can send some but fear once completion is done if the vote is leave I will lose $$$$$$$$$. was 2.18 now less than 2 dollars, on house proceeds that is a huge amount, plus if house prices drop then byers could pull out or worse ask for a price drop. Not good times Quote Link to comment Share on other sites More sharing options...
Bungo Posted June 2, 2016 Share Posted June 2, 2016 I see the exchange rate has been fluctuating a lot depending on how the polls go re the EU vote, just sold my house and now worried I will lose bigtime on exchange rate when the time comes should we leave, looks like its going to be a close one The exchange rate has not been particularly fluctuating any more than normal (I have worked in multi currency environments for over twenty years and so have good awareness of these things). You are possibly just more aware of the exchange rate movement right now as it is of special interest. Take a look at a ten year graph, take a look at any ten year graph between two random currencies. You will see it is always up and down. Furthermore, anyone working in money markets will have started considering Brexit a very long time ago, they won't only do it on the morning after the vote. Uncertainty, which is worse than certainty, is already built into the pound. I expect there will be no more than a blip in the pound on the 24th whatever way the vote goes. As to the vote, well I am sure it will be remain. Quote Link to comment Share on other sites More sharing options...
Bungo Posted June 2, 2016 Share Posted June 2, 2016 I can send some but fear once completion is done if the vote is leave I will lose $$$$$$$$$. was 2.18 now less than 2 dollars, on house proceeds that is a huge amount, plus if house prices drop then byers could pull out or worse ask for a price drop. Not good times 2.18 is about the long term historical average. However in the last five years it has only touched 2.18 momentarily. In recent years it has been well under 2 most of the time, you are likely to do far better than anyone who moved since 2010. House prices dropping? Pound crashing? All utter nonsense and very effective scare mongering by this government. Quote Link to comment Share on other sites More sharing options...
legoman Posted June 2, 2016 Author Share Posted June 2, 2016 2.18 is about the long term historical average. However in the last five years it has only touched 2.18 momentarily. In recent years it has been well under 2 most of the time, you are likely to do far better than anyone who moved since 2010. House prices dropping? Pound crashing? All utter nonsense and very effective scare mongering by this government. I love you :-0. keep telling me, Quote Link to comment Share on other sites More sharing options...
FTA Posted June 5, 2016 Share Posted June 5, 2016 I see the exchange rate has been fluctuating a lot depending on how the polls go re the EU vote, just sold my house and now worried I will lose bigtime on exchange rate when the time comes should we leave, looks like its going to be a close one You shouldn't be worried. The pound will strengthen after the NO vote wins. But the NO vote has been hammering the YES contingent over the weekend so it might even strengthen later on tonight. Quote Link to comment Share on other sites More sharing options...
starlight7 Posted June 25, 2016 Share Posted June 25, 2016 I'd be very afraid and looking to emigrate asap. Quote Link to comment Share on other sites More sharing options...
Quokka2005 Posted June 25, 2016 Share Posted June 25, 2016 I've got money Im supposed to transfer in the next 2 weeks. It's not a lot compared to people's house sales or savings but it's a lot to me. Thinking of trying to manage without it now Quote Link to comment Share on other sites More sharing options...
Bound4Tassie Posted June 25, 2016 Share Posted June 25, 2016 2.18 is about the long term historical average. However in the last five years it has only touched 2.18 momentarily. In recent years it has been well under 2 most of the time, you are likely to do far better than anyone who moved since 2010. House prices dropping? Pound crashing? All utter nonsense and very effective scare mongering by this government. Pound crashing. What nonsense. That'll never happen!.......errrrr...oh. Quote Link to comment Share on other sites More sharing options...
Captain Roberto Posted June 27, 2016 Share Posted June 27, 2016 It seems it's happened in a major way eh? It might sort it self over time, but that might be some time. No one knows when.. could be a year, 4 years. Who knows! We wish we'd sold up 6 months ago. I didn't think all this would happen to be honest, but it has. So now would indeed be bad time to sell and move here... best to keep the UK house for a time until things turn better at some indeterminable time in the future. Quote Link to comment Share on other sites More sharing options...
Rallyman Posted June 27, 2016 Share Posted June 27, 2016 We have money in uk ,people need to understand that markets go up and down we missed out on the last high of around 2.20 because some one stuffed up moving money across our accounts , people have short memories about 14 -16 months ago it was at 1.42 so today's rate is a lot better. its all about being in right place at right time you have to deal with here and now. Quote Link to comment Share on other sites More sharing options...
Parley Posted June 27, 2016 Share Posted June 27, 2016 It is good for anyone moving back to the UK. There are always winners and losers. Quote Link to comment Share on other sites More sharing options...
Rallyman Posted June 28, 2016 Share Posted June 28, 2016 It is good for anyone moving back to the UK. There are always winners and losers. Its ts also very good for British exports ,but this just goes over a lot of people's heads Quote Link to comment Share on other sites More sharing options...
Parley Posted June 28, 2016 Share Posted June 28, 2016 And tourism to the UK. Quote Link to comment Share on other sites More sharing options...
newjez Posted June 28, 2016 Share Posted June 28, 2016 Its ts also very good for British exports ,but this just goes over a lot of people's heads And don't forget the inflation it will cause and the resulting interest rate hikes. That will be good for savers. Quote Link to comment Share on other sites More sharing options...
legoman Posted July 8, 2016 Author Share Posted July 8, 2016 Time for a re think, seems the doom mongerers were right, pound in free fall, too big a hit to take at the moment, Quote Link to comment Share on other sites More sharing options...
newjez Posted July 8, 2016 Share Posted July 8, 2016 I have read that there will be a mini boom for Cobol programming as a result of the brexit. I'm an old Cobol programmer who has moved into web support. But I could always move back if the price is right. Most Cobol developers are retired. Could be a real shortage and contract rates could go through the roof. I may be able to make a small fortune, with the added bonus of everyone in the construction industry will be dumping all their stuff, so I'll pick it up for a song. This is looking better by the minute. I should have voted to leave! Quote Link to comment Share on other sites More sharing options...
newjez Posted July 8, 2016 Share Posted July 8, 2016 I have read that there will be a mini boom for Cobol programming as a result of the brexit. I'm an old Cobol programmer who has moved into web support. But I could always move back if the price is right. Most Cobol developers are retired. Could be a real shortage and contract rates could go through the roof. I may be able to make a small fortune, with the added bonus of everyone in the construction industry will be dumping all their stuff, so I'll pick it up for a song. This is looking better by the minute. I should have voted to leave! Quote Link to comment Share on other sites More sharing options...
paisleylass Posted July 8, 2016 Share Posted July 8, 2016 The GBP I need to move to Aus was left to me by my brother who died. I find it upsetting that it has devalued so rapidly, like I'd be doing him a disservice moving it over now! Silly maybe, but I know he'd be horrified both at the referendum outcome and the devaluation - he put off plans to move to Australia post GFC and eventually never made it. I did move some over when the rate was almost 1.8, which seemed crap at the time, but it's only getting crapper now!! Quote Link to comment Share on other sites More sharing options...
M1cha3la Posted July 9, 2016 Share Posted July 9, 2016 (edited) We have the proceeds from our house sale in £'s still, we completed on the 19th June so couldnt get the funds through before the vote :cry: luckily we don't need the money yet as we won't be buying for 12 months or so, hopefully the rates will be a bit better by then. I know exchange rates are never guaranteed, but I cant help but cry to myself over it. It is good for many other things/people though, swings and roundabouts. I remember our first visit to Aus, the rate was around 1.79 and we thought that was amazing (being used to the rubbish euro at about 1.18). I think we got a bit greedy when the dollar got up to 2.18, nothing else will do now :rolleyes::twitcy: Edited July 9, 2016 by M1cha3la Quote Link to comment Share on other sites More sharing options...
Captain Roberto Posted July 9, 2016 Share Posted July 9, 2016 It seems normal people are going to pay a very high price for Brexit. Even the leave lot have only gained a cosmetic win. Nothing major will change - except it'll take years to sort the mess out. What a load of nonsense it all is. Sent from my iPhone using Tapatalk Quote Link to comment Share on other sites More sharing options...
paisleylass Posted July 9, 2016 Share Posted July 9, 2016 (edited) It's an utter shambles, and disgusting that those who campaigned prolifically have walked away. Ultimately I think the timing was terrible - could have been worse, but UK had a way to go in post GFC recovery. Could have at least waited until interest rates had risen. Now looks like interest rate will reach a new historic low in the next few days. What a mess. Edited July 9, 2016 by paisleylass Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted July 9, 2016 Share Posted July 9, 2016 We are witnessing falls in London house prices for the moment as hesitation to commit becomes evident. Some even pulling out of purchasing. Indeed may well result in lowering interest rates further in an attempt to stimulate falling demand. A falling pound together with property bound to see a further onslaught of the London market, by far eastern and middle eastern buyers, further placing the London market out of the hands of UK buyers. A mess all round indeed. Quote Link to comment Share on other sites More sharing options...
newjez Posted July 9, 2016 Share Posted July 9, 2016 Favours those who are moving back to the UK though, especially if they are looking at buying a house. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.