LONDON — When Julian Asher moved from New York to London 16 years ago to work as a management consultant, his six-figure salary stopped going so far. The British pound, worth twice as much as the dollar, was at a historic high.
It was "close to $25 for a quick lunch" at his local sandwich shop, Asher said. "I was mentally doubling every cost in my head."
So as the pound came tumbling down in recent weeks, Asher kept a close eye on exchange rates — and eventually transferred $20,000 from his U.S. savings account to his U.K. bank at a near-equal exchange rate to fund an extensive kitchen renovation he had long put off.
