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Vaccine roll out in UK and optimistic outlook for unlocking earlier than expected, with Brexit not being a total disaster has seen the £ do well lately
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Does anyone understand £ -> $ conversion rates? I get paid a significant portion of my salary via USD stocks, and noticed that the current rate is <0.71 vs my last two conversions were 0.77 and 0.758.
Why? Is this the new normal? (market speculation I guess but still..)
@greentricky is right but there are some other major influences as well. The Chinese state bank is diversifying reserves, selling USD and buying pounds and Euros. There's also some sort of kerfuffle around predicted inflation rates that I don't quite understand.
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My partner is paid in GBP but we live in NZ, so we are constantly tracking the exchange rate.
We found this website is pretty useful for post-rationalising the reasons behind the fluctuations:
https://news.torfx.com/categories/gbp-to-nzd/
I'm sure there is a page for GBP to USD on there too.
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greentricky
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@rogan
Does anyone understand £ -> $ conversion rates? I get paid a significant portion of my salary via USD stocks, and noticed that the current rate is <0.71 vs my last two conversions were 0.77 and 0.758.
Why? Is this the new normal? (market speculation I guess but still..)