2006-09-15 11:42:41 · 3 answers · asked by elixir 1 in Business & Finance ➔ Investing
what for a holiday? or did you take some home?
yes, the exchange rate currently is more favourable for that transaction
2006-09-15 11:51:29 · answer #1 · answered by tsmith007 4 · 0⤊ 0⤋
It depends upon ur need.
Forex trading, involves cost. On reconversion of US Dollars into pounds u will again have to incur some cost.
But presently Pounds has become strong, therfore sell immediately without hasitation. Dollars will gain within 2 months.
IF u purchase Dollar, u will get double benefit after 2 months.
latest (Sep 15) 0.532396 / $1
lowest (Aug 7) 0.523505 / $1
highest (Apr 3) 0.575076
2006-09-15 12:08:15 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The currency market is the most "fickle" market around. You may be right in your thoughts about its direction... but you may not be able to handle the volatility.
Long term I like the Pound vs. the US Dollar.
The GBP/USD fluctuates around 113 pips a day.
So based on 1 "lot" of a currency trade... that's a fluction of $1130 per day. You could be down $11,300.00 in 10 days if it just went against your position. There's a lot of pain here.
2006-09-15 16:37:07 · answer #3 · answered by Common Sense 7 · 0⤊ 0⤋