Bought some Euros yesterday for only 1.1272 or close to that then just read this.
The Pound to Euro exchange rate is forecast to rise to 1.19 by mid-year, 1.2345 by the end of the third quarter and 1.2820 by the end of 2017.
By March 2018 the exchange rate is forecast to be at 1.3158.
The Pound to Dollar exchange rate is forecast to trade at 1.30 by mid-year, 1.31 by the third-quarter of 2017, 1.32 by the end of 2017 and 1.38 by March 2018.
What a difference a year makes. So maybe better holding on till the last minute before you buy.
No one accurately forecasts exchange rates.
Looks like you bought them at the right time to me.
Forget that, stupid mistake by myself:-)
The exchange rate variations are tiny. You would have to buy a considerable amount of currency before it made any appreciable difference.
As john bunyan points out, exchange rate forecasts are simply guesses - nobody can make accurate forecasts.
Well I suppose I was thinking along the same sort of lines. Once brexit has started and there is no going back the exchange rates should filter back to where they were before brexit was announced.
Maybe lower maybe higher only time will tell.
This time last year I never ever had a passport before and now one year later I am interested on what the exchange rates are. So never to late to learn.
The £ is down to 2009 level vs $ and €. No bottom in sight! Just proves how difficult currency forecasts are. Inflation to come as the imports cost more.
When I was on the Stock Exchange, there were $2.50 to the £1.
I should have bought then!
Why ressurect the thread?
To save starting a new one. The prediction in the OT shows just how hard currency is to predict , and we are all going to be affected by the low £.
"we are all going to be affected by the low £."
But not adversely, unless you're off on a foreign holiday.
If you run an export business you'll see a benefit, as will the companies which supply your raw materials, and the companies which supply them, and so on. It should help our trade balance.
British companies which make profits abroad will also benefit.
Foreign investors will also find us a more attractive proposition, as British assets become cheaper.
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