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GBP tanking, best time to buy bespoke?

poorsod

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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

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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

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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

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I've thought about it, and there are already several threads around about it. Vox mentioned that he's backed up the truck.
 

poorsod

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Hmmm must have missed those threads.
 
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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

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The BOE is expected to cut rates tomorrow.
 

Manton

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Lowest I have noticed is $1.46. It's $1.51 right now.
 

newtrane

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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

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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

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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

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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

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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.
 

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