endian675's blog

[endian675]

To those of you that trade US intruments through IB from Britain

1. I think you can have your IB account denominated gbp. You can have it in aud so I'd guess gbp would be fine.

2. You can have UK bank accounts in gbp.

3. Having some of your money in EUR or USD to counter having the rest of your assets in gbp is actually a good thing as it gives you some protection against holding all your assets in one currency (eggs in one basket). Don't overthink your life by hedging if it really brings you no benefit.

I used to be paid in USD, converted in to GBP each month at the monthly average rate. Over my 3 years in that job, the rate moved from 1.42 to around 1.66, which is quite a large % reduction in my spending power.

Unless you spend money in >1 currency, holding more than one currency is speculation, implicit or otherwise, because the spending value of your non-local holdings can go down (or up).