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There are a number of currency hedging strategies which may or may not be appropriate in your situation -

* forward foreign exchange deal - lets you sell $ against pounds at a fixed day in the future at a fixed exchange rate - basically locks in today's exchange rate into the future

* borrow $ (can you do that against your IRA?), convert the payout to pounds, and invest (your personal "carry trade").

* currency swaps - lets you swap principal and income payments from $ into another currency

You may want to talk to an experienced Private Banker ;-)


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