Brexit anxiety!! Will the pound get strong/weak? vs dollar. Watch

sparkylab
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Hello, I am going to the UK for three years undergraduate (US student) and was wondering if anyone can guess what will happen with the GBP at the end of the month, 6 months from now, in a year compared to the dollar. The exchange rates can make a difference in cost of living and my international tuition fees if the fluctuation either way is steep.

Is it worth buying pounds now? (looks pretty good today )
Or not worry about it-won't change much after BREXIT?
thank you!!
Last edited by sparkylab; 1 week ago
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I mean we still dont know whats happening with brexit lmao, but imma guess the pound is gonna get weaker
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999tigger
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(Original post by sparkylab)
Hello, I am going to the UK for three years undergraduate (US student) and was wondering if anyone can guess what will happen with the GBP at the end of the month, 6 months from now, in a year compared to the dollar. The exchange rates can make a difference in cost of living and my international tuition fees if the fluctuation either way is steep.

Is it worth buying pounds now?
Or not worry about it-won't change much after BREXIT?
thank you!!
Depends whether we have a deal or not.
Deal it will rise a bit, but when we actually leave, then I expect it to fall and certain imports to become even more expensive. We already pay a premium since the referendum.
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ArnoldK
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No one knows what the outcome of Brexit will be yet, so if someone was to guess then that's what it would be, literally a guess.

A good solution would be to change half now and half later and mitigate any future price changes.
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sparkylab
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Hey tiger, I have been watching the news carefully, but yeah, still depends on the deal or no deal. I have been watching the rates for the last few months and on little money, the exchange may not be significant but on 5 figures exchanging (considering) AND paying to a uni (5 figures) and paying up front for accommodation (4 figures) -- it all will add up!!!

So..if there is NO deal, the pound may drop significantly? exchange right then or let it slide lower? AND even with a deal it will go up and then dip again???

I totally know this may be hard to predict. just trying to get timing of when to pay everything....
(Original post by 999tigger)
Depends whether we have a deal or not.
Deal it will rise a bit, but when we actually leave, then I expect it to fall and certain imports to become even more expensive. We already pay a premium since the referendum.
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Little Popcorns
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wah
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999tigger
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(Original post by sparkylab)
Hey tiger, I have been watching the news carefully, but yeah, still depends on the deal or no deal. I have been watching the rates for the last few months and on little money, the exchange may not be significant but on 5 figures exchanging (considering) AND paying to a uni (5 figures) and paying up front for accommodation (4 figures) -- it all will add up!!!

So..if there is NO deal, the pound may drop significantly? exchange right then or let it slide lower? AND even with a deal it will go up and then dip again???

I totally know this may be hard to predict. just trying to get timing of when to pay everything....
I cant see there not being a deal. I expect an extension of article 50 and them to sort something out. The £ is already weak so you have Brexit to thank for that.
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sparkylab
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agreed.
(Original post by 999tigger)
I cant see there not being a deal. I expect an extension of article 50 and them to sort something out. The £ is already weak so you have Brexit to thank for that.
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ColinDent
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Sometimes it goes up, sometimes it goes down, regardless of brexit
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fallen_acorns
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Its unlikely there will be any sizable shift in the pound any more. Most markets/banks/traders will factor in the possibility of a no-deal, well before it happens. It won't be a sudden shock like the vote result was, where it seemed near impossible until it happened.

I don't know about pound-dollar, but I watch pound-RMB very closely, and in that case since the referendum its largely been between 8.5-8.9, with a few exceptions above and bellow. So for me I just keep it simple.. if I am transfering to pounds, I wait until its as close to 8.9 as I can.. if I am transfering the other way, I wait until its as close to 8.5 as I can.

I personally expect a small drop if a no-deal scenario happens initially... followed by a recovery. Nothing on the scale of voting to leave. Over time, if we persist with no-deal, then I could see a slow gradual decline as the UK becomes worse off, but I don't think you will see a sudden drop.

I could be completly wrong though - I'm not someone who is an expert in currency/economics, just someone who transfers to and from the pound for my personal life quite frequently.
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