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Genuinely shocked...what to do about currency?

(45 Posts)
Mytummyisnotatrampoline Fri 24-Jun-16 07:42:21

I thought reason And logic would prevail. I was clearly wrong.

This isn't a brexit bashing thread-we're on different sides and you won. I'm not happy about it, especially knowing that I now live in a country where Nigel Farage is classed as a winner, but there's nothing I can do.

In my naivety/stupidity, I didn't get euros for our holiday (we leave next week). Do I get them today and take the loss now, or hold off until the weekend in the hope the market rights itself?

branofthemist Fri 24-Jun-16 07:46:00

There was an 'expert' on GMB (I out expert in '' as I have no idea who he was, I missed that bit) that said this was expected and will calm down. But he didn't say how long it would take.

The pound was artificially inflated last night because of the incorrect predictions. Which accounts for some of the dip.

branofthemist Fri 24-Jun-16 07:47:02

Sorry I don't know wether it's best waiting or not. My instinct is wait until at least the markets are open and David Cameron has made his speech.

wulfy1010 Fri 24-Jun-16 07:48:37

I wouldn't do anything today. It is very likely the market will stabilise in the next few days

BurnTheBlackSuit Fri 24-Jun-16 07:50:55

Well I doubt the currency market will get worse (unless Carney or Cameron say/do something stupid), so I'd wait and see what happens over the next few days.

wow23 Fri 24-Jun-16 07:51:14

I am the same op, i wish i would have bought them last week. Watching this thread with interest.

YouMakeMyDreams Fri 24-Jun-16 07:52:21

Me too wishing I'd got them yesterday. No idea what to do. May just get them today.

donajimena Fri 24-Jun-16 07:53:06

I've just posted similar in chat (can't link) I think I will buy a few (the rate is still higher than its lowest a few weeks ago) then wait it out.
Its showing 124 at the moment it was 119 around 8 weeks ago.
I remember it being 106 a few years ago so its a gamble at any time.

Salene Fri 24-Jun-16 07:53:10

It's worked well for us, husband paid tomorrow in $ so he has just got a 10% pay rise

But it will have stabilised by next month so this will be a one off

That said it's nice to get our mortgage paid this month for free.

Marynary Fri 24-Jun-16 07:58:35

I am shocked too as I didn't know anyone who wanted to leave. My children (teenagers) are devastated as are the vast majority of their classmates.
Like you, I didn't get any foreign currency and wish I had. I would wait until the last minute before getting euros as I think that pound is (hopefully) at rock bottom at the moment and will be stronger by next week.

Marynary Fri 24-Jun-16 08:07:28

I think that the Euro might go down as well as the pound so maybe it won't be too bad for those going to Europe (once the market has stabilised).

SoupDragon Fri 24-Jun-16 08:12:12

I didn't give the currency any thought at all. Thankfully I paid the last of our holiday in US$ last week by pure chance and I've found enough $ and € in the travel wallet to see us through til school trips in October.

I honestly didn't think about the effect on £ at all!

SoupDragon Fri 24-Jun-16 08:12:41

I really feel for anyone who needs to change currency in the short term.

Ifailed Fri 24-Jun-16 08:14:22

buy gold. It's going to get worse once the in-fighting starts within the Tories. Probably a good idea to buy tinned food as well. And bog rolls.

KayTee87 Fri 24-Jun-16 08:14:37

The market will not right itself by the weekend. We have two long hard years of financial uncertainty ahead sad

blueskyinmarch Fri 24-Jun-16 08:15:32

We bought loads of dollars last week in case this happened. I am so glad i did.

Salene Fri 24-Jun-16 08:16:03

The market has just opened the Euro
Is also down due to uncertainty about EU

ppeatfruit Fri 24-Jun-16 08:18:27

I worry that England will just increase it's fealty to the U.S.A.. we're not big enough to go it alone IMO.

ApricotSorbet99 Fri 24-Jun-16 08:23:10

I thought reason and logic would prevail


This isn't a brexit bashing thread

a great big fucking lie.

The arrogance of thinking "My POV is the only reasonable, logical one" is quite astounding.

Want to know why this has happened? The "R" word. That's why.

Maybe if the regressive left had allowed this country to actually address the concerns many have about the levels of immigration without ignorantly abusing the word "racist" this might never have happened.

trixymalixy Fri 24-Jun-16 08:26:02

Really wish I'd bought our euros too, but I really didn't think this would actually happen.

AppleSetsSail Fri 24-Jun-16 08:26:37

Maybe if the regressive left had allowed this country to actually address the concerns many have about the levels of immigration without ignorantly abusing the word "racist" this might never have happened.

Totally agree.

Mytummyisnotatrampoline Fri 24-Jun-16 08:31:43

We leave on Monday so However the market closes today will be what we get. I'll hold off until Sunday and hope for the best. If the worst that happens to us is we lose a few hundred due to the rates, then I can hardly complain given whAt is going to follow for many and the UK as a whole.
I honestly didn't think it would fall this way. I was talking to my husband about it last night and that we shouldn't be complacent-everything we heard was remain was guaranteed, but you can't underestimate the silent "grey" vote.
I'm angry and disappointed that so many people have bought into an outdated and unrealistic notion of sovereignty and patriotism. I can't believe so many people have put blind faith in people who have never led.

CoteDAzur Fri 24-Jun-16 08:33:19

"this was expected"

It wasn't expected. Not in polls, not by bookies, and certainly not by financial markets.

Which is why British Pound has dropped off a cliff (- 6.5% against US Dollar right now) and stock market has imploded (down 7% at this moment).

"The pound was artificially inflated last night because of the incorrect predictions"

Have you considered the possibility of actually looking up a graph yourself before believing whatever you are told by the talking heads in the TV?

The Pound has been appreciating since the beginning of June because Bremain started to look more likely. It certainly wasn't "inflated" last night, artificially or otherwise.

Feast your eyes on the stunning collapse of the British Pound, in charts.

CoteDAzur Fri 24-Jun-16 08:34:45

I feel for you, Mytummy. In your place, I would wait for next week.

Mytummyisnotatrampoline Fri 24-Jun-16 08:41:19

Apricot-you are right. I was out of order.

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