Quote:
Originally Posted by JohnP
Does anyone have any insight as to what the exchange rate is going to do in the short term?
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Yes I do and I'm going to make miiiiillllllllllllllllllllllliiiiiiiiiiiiiiioooooo oooooooooonnnnnnnnnnnssssssssss!!!!!!!!!!!!:biglau gh:
Sorry couldnt resist that
Errmmm short answer is no. Longer answer is it depends on so much going on US housing market, possibilty UK market may slow, price of crude all kinds of crap including borrowing from Japan. I have been watching and I dont think it will go back to 2.40 any time soon. It did dip to 2.20 and went back to 2.30 briefly and is now back down around 2.24. It may get back to 2.30 depends on interest rates elsewhere, Bank of England meet again 7&8 Nov could have an affect may not. Interest rates may go up in Oz next month. You could lock it in with Hifx or Ozforex to a specific rate if you dont need the cash straight away to ensure you get what you want and sit and wait until the exchange rate climbs back up.
I need to transfer cash next month when we come over and havent had the luxury of being able to lock in an exchange rate due to circumstances - if I could Ihave locked in I would have. However, i'm just going to have to take what comes.
None of the above is authorised or offical financial advice just my take on how things are and it is purely perrsonal opinion and speculation!!