So today I was going to do two things:

1) $800 for a trip I’m taking to NYC on the 28th October (the rest is on travel credit card)
2) Pay $500 invoice for a chinese carbon frame

Opinions; buy now or wait it out? 🙄

Time travel back to April before the economy was destroyed by those with blinkers.

Can you afford to do it now?
If so why take the risk, you might win you might lose.

Edit: I am not an expert, but experts in the area of economics are often wrong too.

Four months ago things looked stable. Two weeks ago I thought things had hit their low point. Then Teresa announced march for Brexit and since then our currency has hit lows I never thought possible. Can it go lower?? I don’t see how, but I also would not rule it out. We are (yep…still are, just) a key part of and a stabiliser of Europe. We have announces we are taking our bat and ball home. I think we will look back on late 2016 as the calm before the storm. 🙁 Not happy. So get your currency whenever, it’s not likely to get much better or worse for any particular reason in the days ahead.

Personally I wouldn’t wait it out; as whilst it might get better in the short term, long term will get much worse as it looks like the $ = £ predictions are becoming more likely.

Yeah I’ve just seen this quote:

“Secondly, and perhaps most damningly, HSBC issued a pretty bleak statement claiming that, as the ‘defacto official opposition to the government’s [Brexit] policies’, the pound could well find itself circling $1.10 by the end of the year.”

Crap, forget time traveling to a few months ago. Last week it would have only cost me £385 for the $504 invoice instead of the £417 today! 😯

Looks like we are heading for $=£ I think – time to buy your $ for your trip or anyone thinking of buying anything expensive and imported! Come later this year we will have import lead inflation. What a mess.

Trouble is if you get the cash now you’ve other risks to deal with, ie lose it, have it stolen etc.

No point betting on the market.

And tbh, I never carry more than £50 in cash (here or elsewhere), use you CC when in the States.

sadly – if you can afford £417 buy it now. If you can’t, don’t.

It might come back and you’ll curse the extra £30 but you can afford that anyway, you just said so.

If you can’t afford it, it might come back to affordable in a few weeks time (or sooner) but you can’t afford it now anyway so you’ve not lost anything in waiting.

You’ve only got 3 weeks to go so your options are very limited, in reality you have been waiting it out already and it’s gone against you

BTW I am not an expert, just giving an opinion, get it changed soon. It’s unlikley yo move back your way by more than a very small amount in the next few days.

I quite like the current rate. I have just made one phone call and cleared £6.7k profit.

Bought $200k at a fixed rate I set months ago, then sold it right away at the lower rate.

(Shame its not my money)

We have announces we are taking our bat and ball home

It’s less effective when there are 27 other players who all have their own bats and balls.

I have just made one phone call and cleared £6.7k profit.

Swoon.

Its not my money, so I don’t mind betting with it.

I still have some Euros in a German bank account. I’d hold onto them, except it’s Deutsche Bank… dilemma!

Pay it. Likelihood is that things will get worse rather than better as Brexit looms. I would maybe keep an eye today just to check that blip earlier doesn’t reflect in the rate you’ll pay.

I bought my new carbon frame from China that I had been dithering about party for these exact reasons and so far, I’ve been right – saved £50+ over what I’d have paid now compared to then.

Cheers.

Paypals rates were shocking (1.2)

I went with my travel card so at the moment it should work out at £397 using mastercards rates.

We’re in NYC for 8 days so were going to take $100 for each day split between, for things like coffee, tips etc – the rest will be on card.

Yeah my last chinese frame also at $500 cost me £343 and that was only a few months ago!

Yay for the brexit!

So, today we got notice to complete on our house purchase in France, in Euros 😯 holding off on the money transfer as long as I dare hoping that last nights “fat finger” trade washes out over the weekend and the £ recovers a bit over the weekend/monday.

Unless the rates absolutely tank or skyrocket, like you say for an amount of about $1500 you’re looking at a potential profit/loss of about £30. Personally, I wouldn’t be bothered pi$$ing around for £30.

Once you start getting into the 10’s and 100’s of thousands of pounds, start worrying about it.

BTW I am not an expert,

Yes we know that, you voted for Brexit and caused all this mess!

Yeah my view on the purchase was being skewed by paypals “conversion” rate.

Didn’t realise you can change it to your card providers. 😳

The £ seems to be almost back to how it was yesterday: https://www.dailyfx.com/gbp-usd

Are you sure about that?

Not sure I’ll be doing much travelling abroad next year – or bike buying.

For the time being at least. 🙂

Brexit has given me a cheap summer holiday, and a cheap october holiday.
It will be interesting to see if it boosts tourism or was that why people voted out to stop tourism

Guess who has a few tend of thousands in a UK account that I need to move to the US for a house deposit by the spring. Guess who thought that there was no way Bexit would happen. Guess who thought the pound would bounce back.

For those of you old enough to remember, at least I own a Volkswagen. But it was built in Mexico and bit keep dropping off.

🙁

The £ seems to be almost back to how it was yesterday

that’s a phrase that I fear may catch on

It will be interesting to see if it boosts tourism or was that why people voted out to stop tourism

I dunno, with foreigners being attacked unprovoked, I’m not sure tourists would want to risk being mistaken for immigrants…

Some pundit in the FT this morning was predicting £1 < $1 before this is all over.

UK tourism will probably be one of the few beneficiaries of this clusterfook.
We were in France this summer and talking to tourist spots in places like Reims and St Emillion they were saying the USA tourists were just staying away France and Europe in general. The attacks in Paris and not realising that Europe is not on the doorstep of Syria quite in the way they imagine.
I think the UK is seen as safer than the rest of Europe (probably for valid reasons).

Except that with the migrants workers kicked out of the country, there will be no one to serve them.

Perhaps tourists can get a badge that says “its ok, I’m a tourist”, whereas immigrants can get a tattoo? Maybe a barcode on the forehead.

Maybe a barcode on the forehead.

or a badge: