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mb018538

Currency/exchange advice!

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Hi guys and gals,

Wondering if anyone had any sage advice regarding the fun world of exchange rates.

The wife and I are off to the states in august for a couple of weeks. We plan to spend around £4000 in that time. We went across the pond in summer 2014 after we got married, and the exchange rate was pushing 1.7 dollars to the pound.  Now its hovering at a pretty poor 1.4, so we're losing quite a chunk compared to last time.

Now, as I understand things, the pound is currently being pressured down by the fed raising US interest rates recently, the UKs reluctance to raise our rate, markets worried by the possible referendum and UK leaving, weak UK growth data, global market turmoil and the like.

Now the million dollar question. Will it go up....or down? I know it's not going to hit anywhere near 1.7 this year, but I'm slightly worried it could sink down towards the 1.3 range. I'm considering hedging my bets and loading up £1500 now at 1.43 to cover myself if things take a tumble.

What do others think?? I'm no expert, and of course nobody knows for sure, but thoughts are always welcome :-)

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