anyone have any ideas on where they think the British Pound will be relative to the US dollar in coming weeks? I need to convert US dollars to British Pounds and want to do so at the best possible time. Your input will be appreciated. Thanks
I don't think you should time the forex market. Right now, if my timeframe were weeks, I would probably buy the pound sooner rather than later.
I really should have bought the pound last week when it was down to 1.55 or so. Thanks for the advice but is there any particular reason why sooner is better than later? thanks
Well its looking like a bearish time for the dollar atm, its already dropped about 4 cents in the past two weeks, i.e. 4000 dollars per 100k. In alot of ways the USD is looking at resuming the long bear trend it has been on after the summer retracement. So, convert soon id say...The high was at just over 1.68, currently at ~1.6. Depends on how much your converting as to whether or not you will really notice any loss. I dont plan so far ahead usualy though, trading im only really concerned about the next week or so at the most! I am looking for more long term USD weakness though, but thats only my opinion, so take with grain of salt!!
converting 30 grand I have to stop hoping and just convert the damn currency. I actually have until the end of October to convert the funds. I'm gonna take a day or so to think about what i will do. Thanks.