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£ to $ exchange rate

Community Veteran
Posts: 16,814
Thanks: 1,112
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Registered: 06-11-2007

£ to $ exchange rate

After a sharp rise on Monday to $1.49111 the pound now (08:30) stands at $1.4740..... a loss of just over 1.5cts.....

http://www.xe.com/currencycharts/?from=GBP&to=USD
any bets on which way it will go........ AFTER the budget today?
20 REPLIES
Community Veteran
Posts: 3,826
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Registered: 24-09-2008

Re: £ to $ exchange rate

my guess ..... up..................will show the market perceives the UK is getting it finances in order
nadger
Rising Star
Posts: 4,498
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Registered: 13-04-2007

Re: £ to $ exchange rate

More interested in Euro as off to France next Thursday.
Can't see any of us being too happy around lunchtime today  Angry
pierre_pierre
Grafter
Posts: 19,757
Registered: 30-07-2007

Re: £ to $ exchange rate

Should be interesting here as the Conservative local councillor was booted out  for not attending,By election for my ward on Thursday 24th
Community Veteran
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Registered: 12-08-2007

Re: £ to $ exchange rate

Shutter, I think the £/$ exchange may fluctuate a little for a few days but will then settle down in the $1.47-1.50 range. A strong budget that tackles the problems left to them will help the rate.
Bought dollars this morning for a friend and got 1,479.20
Community Veteran
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Registered: 06-11-2007

Re: £ to $ exchange rate

Yes I think so too...  If it went up to $2.00 and stayed stable for 3 months, would that make petrol and diesel cheaper, or more expensive (not incl the governments rake off)? 
(yes I know they buy it in advance....)
Community Veteran
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Registered: 12-08-2007

Re: £ to $ exchange rate

Oil is purchased in dollars so your example should reduce the cost of fuel.
I'd love a $2 pound Smiley Smiley
Community Veteran
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Registered: 06-11-2007

Re: £ to $ exchange rate

The pound gained 1.5 cts about 3pm... $1.4850 but has dropped back now to $1.4809
http://www.xe.com/currencycharts/?from=GBP&to=USD
Community Veteran
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Registered: 12-08-2007

Re: £ to $ exchange rate

Yep, the markets responded well to the budget.  I would expect the $ to fluctuate around its present level for a while and then possibly move to $1.50.
Community Veteran
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Registered: 06-11-2007

Re: £ to $ exchange rate

Budget says that no increase in fuel tax...... Hmm.... VAT increased by 2.5% from January....(currently about £5.31 per gall  up to  £5.44 per gall in Jan....  = to about 14p a gallon at current price of  £1.18p per litre...  so IF the oil companies decide to lower the price due to the £/$ exchange, then we MAY not have to pay so much...
SRD
Grafter
Posts: 300
Registered: 29-04-2010

Re: £ to $ exchange rate

Osborne also said that reviews would be held in the Autumn so let's wait and see how long this little lot lasts shall we?
Community Veteran
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Registered: 02-02-2008

Re: £ to $ exchange rate

Quote from: shutter
Budget says that no increase in fuel tax

Incorrect. Increases were already in place from the previous budget and are being maintained. Plus of course VAT.
Community Veteran
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Registered: 06-11-2007

Re: £ to $ exchange rate

I think that referred to "this budget".... not the previous one.!
Community Veteran
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Registered: 12-08-2007

Re: £ to $ exchange rate

$ is showing $1.488 at present so the budget has been well received now that the City has had a chance to analyse  the detail. Wonder when we'll get $1.50 level Undecided
Community Veteran
Posts: 16,814
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Registered: 06-11-2007

Re: £ to $ exchange rate

I did hear a sentence in a news report about the $ value to £... and they said that if the dollar goes up so will the national debt !...
never rains, but it pours ! ! !...