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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.
Stonehedge
Alan_tbt
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..)