Holiday currency

[louise jones]

Im going to Florida mid August and have got the money in my bank account waiting to buy holiday money.  The rate changes each day - is there anywhere I can get a forecast of whether exchange rates will rise or fall because I dont want to buy at 1.78 as it is today and yet last week it was 1.84! Can someone tell me where to find a forecast please, if there is one!

[Didwot]

Currency fluctuations are dependent on lots of factors, Interest rate, performance of the various economies, taxation, market expectations etc. and men in suits (and some in loud blazers) in the City, Wall Street and elsewhere spend, earn and lose fortunes trying to predict what the future movements will be. if there was an easy way of workin out theanswer there would be no fluctuation, no currency markets, and the men in suits would either be so rich they could not lift their own wallets, or unemployed.
No way to forecast with any certainty at all.

[Sammy Snake]

As Didwot says, there is no way to forcast with any certainty at all.

No one knows what will happen in the future, people can and will guess but whether they are right or not is another matter.

[Hammer]

There is a theory that the markets are efficient, meaning that all known information is already built into the exchange rate. If you knew the rate was going to go up next week, it would have already gone up today, if that makes sense.

If it was that predictable, everybody would be doing it and making a killing.

If you're an optimist, wait, if not then buy it now. It's up to you, and probably won't make a great deal of difference either way.

Sorry we can't be more helpful.

[Didwot]

If the Bank of England reduces interest rates next month then the pound will probably fall against the dollar, but then again it might not.

[kazza12345]

there is not much diffewrence in those rates overall unless you are doing huge international currency deals