• I'm happy to introduce the Styleforum Happy Hour, our brand new podcast featuring lively discussion about menswear and the fashion industry. In the inaugural edition, a discussion of what's going on in retail today. Please check it out on the Journal. All episodes will be also be available soon on your favorite podcast platform.

  • Styleforum Gives - Holiday Charity Auction 4: Goodyear welted shoes from Cobbler Union

    We are very proud to present this year's edition of the Styleforum Holiday Charity Auctions, this year in support of the Ronald McDonald House Charities of Spokane (www.rmhcspokane.org). Each Auction lasts 24 hours. Please follow and bid on all the auctions.

    The 4th auction is for a pair of Goodyear welted Shoes from Cobbler Union. Please bid often and generously here

    Fok and the Styleforum Team.

  • STYLE. COMMUNITY. GREAT CLOTHING.

    Bored of counting likes on social networks? At Styleforum, you’ll find rousing discussions that go beyond strings of emojis.

    Click Here to join Styleforum's thousands of style enthusiasts today!

GBP tanking, best time to buy bespoke?

poorsod

Distinguished Member
Joined
Apr 13, 2005
Messages
4,203
Reaction score
840
So 1 British pound = 1.4876 U.S. dollars. I haven't seen such a good exchange rate in years. It is really tempting to get a bespoke jacket. Currently I've been using WW Chan b/c they were so much cheaper. Now I'm tempted to try a british tailor. Anyone else being tempted by the relatively weak GBP? Should I wait till summer?
 

Fat-tie-knot

Well-Known Member
Joined
Dec 30, 2008
Messages
74
Reaction score
1
I think the US economy will recover before the British economy. I think the pound sterling will continue to slide against the greenback for the next few months(and aginst the euro too for that matter).

The Fed is basically at 0% they cant get any lower. The BOE on the other hand is at 2%. (http://www.bankofengland.co.uk/) I would think that they'll drop their rates again in Jan. That should put additional downward pressure on the Pound.

The intangible here is the change in administration in the US that the UK does not have.
 

poorsod

Distinguished Member
Joined
Apr 13, 2005
Messages
4,203
Reaction score
840
I don't try to understand the minutea of foreign exchange otherwise I'd be making $$$ on FOREX. But am I the only one thinking of trying a UK tailor b/c of the exchange rate? I might be also tempted to get a second pair from G&G.
 

grimslade

Stylish Dinosaur
Joined
Mar 31, 2006
Messages
10,883
Reaction score
49
I've thought about it, and there are already several threads around about it. Vox mentioned that he's backed up the truck.
 

poorsod

Distinguished Member
Joined
Apr 13, 2005
Messages
4,203
Reaction score
840
Hmmm must have missed those threads.
 
Joined
Oct 23, 2008
Messages
18
Reaction score
0
Like poorsod, I'm no currency market expert. I do think there's a possibility that the pound may have been oversold on the markets and may bounce back a little, although nowhere near its level of a year ago. In the last few days it's gained significantly against the euro. So there may be an argument for getting in there now. Enjoy it - make the most of your strong currency. I certainly did over in the US when the Lobb boot was on the other foot.....
 

newtrane

Senior Member
Joined
Jan 19, 2004
Messages
386
Reaction score
0
The BOE is expected to cut rates tomorrow.
 

Manton

RINO
Dubiously Honored
Joined
Apr 20, 2002
Messages
41,583
Reaction score
2,855
Lowest I have noticed is $1.46. It's $1.51 right now.
 

newtrane

Senior Member
Joined
Jan 19, 2004
Messages
386
Reaction score
0
Please think twice about the counterparty risk you are taking when you make substantial deposits with your tailors. It might be better to hold GBP in a bank account or even in cash in the current environment and then transfer the funds when needed.
 

TheFoo

THE FOO
Dubiously Honored
Joined
Feb 11, 2007
Messages
22,512
Reaction score
3,505
I was considering ordering something from Rubinacci through London to take advantage of the exchange rate, but I think they raised their prices in pounds significantly.
 

Get Smart

Don't Crink
Joined
Oct 27, 2004
Messages
12,234
Reaction score
227
when we were in London last week it was great as the current exchange made most things comparable to what we'd pay back home. I think the lowest I saw the exchange was 1.45:1 and I just bought a bunch of GBP for our London trip next Xmas just to lock in the good exchange rate
 

PhiloVance

Distinguished Member
Joined
May 28, 2005
Messages
1,781
Reaction score
220
I'm heading over to London to visit my brother-in-law at Oxford in mid to late April. Meticulous planning and preparations are underway for my invasion of the factory shops in Northampton (codenamed "Operation Overlord II"). I'd be ecstatic if it dropped into the $1.30-$1.40 range by then - but I"ll live with $1.45-$1.50.
 

Holdfast

Stylish Dinosaur
Joined
Mar 10, 2006
Messages
10,562
Reaction score
6,347
Originally Posted by newtrane
It might be better to hold GBP in a bank account... and then transfer the funds when needed.

I agree.

I don't think the pound will go significantly lower, and this afternoon's reaction to a rumour suggesting the BOE won't cut rates at all (not plausible IMO, but who knows) has lead to a spike upwards in its value.

The markets have priced in almost all the downside already. If you're planning UK commissions, build up your UK GBP account right now. But only dip into it when you need to make payments. In the meantime, enjoy any rises in value due to currency movement back in favour of sterling.
 

Styleforum is proudly sponsored by

Featured Sponsor

How many pairs of shoes do you own?

  • 1 - 4

    Votes: 25 3.3%
  • 5 - 10

    Votes: 131 17.3%
  • 11 - 20

    Votes: 246 32.5%
  • 21 - 30

    Votes: 119 15.7%
  • 31 - 40

    Votes: 68 9.0%
  • 41 - 50

    Votes: 47 6.2%
  • 51 - 60

    Votes: 23 3.0%
  • 61 - 70

    Votes: 21 2.8%
  • 71 - 80

    Votes: 16 2.1%
  • 81 - 90

    Votes: 7 0.9%
  • 91 - 100

    Votes: 7 0.9%
  • 100+

    Votes: 48 6.3%

Related Threads

Staff online

Forum statistics

Threads
428,701
Messages
9,222,599
Members
193,598
Latest member
senchatea
Top