Jump to content

Aussie dollar strengthens???


gail39

Recommended Posts

  • Replies 52
  • Created
  • Last Reply
Guest brooksey

do you think it will ever reach $2 40 again. We are moving to Perth in July and its just my luck the pound chooses to be week now.

Link to comment
Share on other sites

Guest orangegerbera2003

HIFX kept telling us last June/July that the exchange rate would not improve and we must exchange at 2.34. We had a strong feeling it would improve and decided to wait! Against all the odds (and a day before we left the UK), it hit the 2.49/2.51 mark in August 2007. This was totally unpredicted by the economists. So, don't give up hope! It is good for those moving from Australia to the UK at the moment....and a few months down the line, it will be good for us Poms moving over here. So, we all win!! :spinny:

Link to comment
Share on other sites

Guest sharleen29

when we started this process (last feb) we worked everything out at 2.4, then when it went down to 2.2 we done our sums again. we stand to lose $50,000 (not to be laughed at! Im keeping everything crossed for us all!!!

Link to comment
Share on other sites

Guest orangegerbera2003

Hi Sharleen - yes, I understand. We are waiting to move money over, so it will be great when the exchange rate improves. I believe it will! All the best....Michelle

Link to comment
Share on other sites

Up to 2.23 today I have been hit hard as had to put in an extra £34,000 into my government bond at 2.18 when I had budgeted for at least 2.35.

I have learned my lesson and am now in no rush to transfer funds to OZ until the rate hits 2.35 and upwards

Link to comment
Share on other sites

Guest GoodersGang
do you think it will ever reach $2 40 again. We are moving to Perth in July and its just my luck the pound chooses to be week now.

 

 

Dont give up hope im waiting for 2.5 sometime soon all it needs is some good:arghh: press or a bomb going off in the right place!!!!!!!!!!!

 

GoodersGang:jimlad:

Link to comment
Share on other sites

Guest Tom the Pom
Dont give up hope im waiting for 2.5 sometime soon all it needs is some good:arghh: press or a bomb going off in the right place!!!!!!!!!!!

 

GoodersGang:jimlad:

 

That's not nice!!!:nah:

 

I'm depending on 2.5 too - but I wouldn't wish anyone any harm:wideeyed:

Link to comment
Share on other sites

Guest The Greens
Dont give up hope im waiting for 2.5 sometime soon all it needs is some good:arghh: press or a bomb going off in the right place!!!!!!!!!!!

 

GoodersGang:jimlad:

 

Nah :no: Sorry to say, "Give it Up, at least until October / November, no chance of any big upturn for now.

 

Emmy:cry:

Link to comment
Share on other sites

For those who are moving money over at very sad rates at the moment please look on the bright side. You can park the money in St George Bank Dragon Direct "at call" for 7% or Rabobank for 6.9% . For term deposits you can get as high as 7.6%. I am sure that is better than what is on offer in the UK.

 

Please factor those rates in if you mare thinking of leaving funds in the UK.

 

regards

 

Liam

Link to comment
Share on other sites

Got this in an email this morning from my broker at Halo. Yes there has been a slight improvement in the exchange rate but it isn't expected to last:

 

We have seen a significant improvement in the exchange rate mainly due to risk aversion form the so called carry trade where funds are borrowed in the low yielding Japanese Yen and invested in higher yielding assets. This may only be a temporary phenomenon and could be viewed as an opportunity to purchase some dollars.

 

The Halo converter is currently stating 2.22 which is better than their 2.18 yesterday!

 

Felicity:wubclub:

Link to comment
Share on other sites

Guest Chris&April

Well for some of us a strong dollar is a damn good thing. We will be in a net debt situation when we get there - and will actually have to clear some UK borrowings (around £3k) with Aussie currency, so I want that dollar to get strong!!

Link to comment
Share on other sites

Hiya just a note to say that the US market has just re-opened after a bank holiday.

Oh know you are all thinking what? we're off to Oz, but there is a method in my madness.

See i work in the Travel and Foreign Exchange sector and the US ecomony has a huge impact on the other G8 so here goes....

This morning UK time the £ was $2.18 as there was no prediction on rate due to the US bank holiday, however they are now open to trade and the rate has now changed to $2.25.

Finally the US are predicted to be heading towards a ressession and the last time this was announced on breaking news from George Bush in August 2007 the rate for the UK£ to the Australian$ went from $2.37 to the £ to $2.56 to the £ in 1 day!!!

This is primarily due to US investors pulling out all their money from banks in foreign accounts ( ie US investors pull there resources from Australia to stablize there ecomony and investments )...so keep an eye on the US dollar too as it can make a difference.

 

I now it's a minefield but hold on in there, i also know there is talk on the news today that if US do end in ressession then the UK may follow, do not listen to that as being set in stone as the last time the US were in a ressession on 97 we managed not to.

 

:wacko:

Link to comment
Share on other sites

HI Natma1, Thanks so much for that positive bit of inside information!! Really been feeling for the people that are in Aus and need to transfer their money now. We are due to go this year so your news is music to my ears

 

Thanks ever so

Link to comment
Share on other sites

Guest Redaussies
Hiya just a note to say that the US market has just re-opened after a bank holiday.

Oh know you are all thinking what? we're off to Oz, but there is a method in my madness.

See i work in the Travel and Foreign Exchange sector and the US ecomony has a huge impact on the other G8 so here goes....

This morning UK time the £ was $2.18 as there was no prediction on rate due to the US bank holiday, however they are now open to trade and the rate has now changed to $2.25.

Finally the US are predicted to be heading towards a ressession and the last time this was announced on breaking news from George Bush in August 2007 the rate for the UK£ to the Australian$ went from $2.37 to the £ to $2.56 to the £ in 1 day!!!

This is primarily due to US investors pulling out all their money from banks in foreign accounts ( ie US investors pull there resources from Australia to stablize there ecomony and investments )...so keep an eye on the US dollar too as it can make a difference.

 

I now it's a minefield but hold on in there, i also know there is talk on the news today that if US do end in ressession then the UK may follow, do not listen to that as being set in stone as the last time the US were in a ressession on 97 we managed not to.

 

:wacko:

 

Hi Natma, Love the post, and I don't want to burst your bubble, but the rate AUS$ - £ stirling had started a slow climb last week from 2.18 to 2.23 - to 2.26 - to 2.28 earlier today. As I write this post it's now down to $2.25, after the interest rate cut in the US just after lunchtime today, by their Central bank. Your right the US economy has a massive effect sadly on our economy, so its not looking good, but all is not lost yet. I think we are all keeping our fingers crossed on this one, but more interest cuts here are expected soon, along with projected interest rises in Australia. These are not going to do us any favours. The further apart the base rates go (between UK and Australia) the worse the situation will become for us Brits. But like you say, well worth keeping any eye on. The more we transfer the bigger the loss for us at present, so I really hope your right. Thanks for the info,

Link to comment
Share on other sites

Hi there,

 

I tell you what there is not anyone who is watching this rate more than me at the moment, been watching it 2 or 3 times a day for last two weeks and sometimes feel pyhsically sick as we are in oz in process of buying a house and the settlement day of purchase is next friday 1st Feb and they need our money here in oz by next wednesday 30th Jan. I am just hoping and praying the rate will increase please a little more, we already have had to borrow more on a mortgage here than we expected.

Fingers crossed for everyone.

 

Cheryl

Link to comment
Share on other sites

Guest The Cutches

Well I'm selling my car :cry: so that we can get a few grand together (prior to selling the house) just in case the rates shoot up :biglaugh:. If that does happen then at least we will be able to get a decent rate held for some of our dosh!

 

We live in hope:yes:

 

CC

x

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.


×
×
  • Create New...