sparrow9999 Posted August 2, 2013 Share Posted August 2, 2013 hi all looking for a bit of advise. going back to uk but the dollar has drop just recently so my dilemma is:unsure: now there taking about dropping interest rates next week will this make the dollar drop even further or will this help the dollar, so do I change it over now and take a loss or wait to see if it improves its all giving me a headache :confused: sparrow Quote Link to comment Share on other sites More sharing options...
oz bound pom Posted August 2, 2013 Share Posted August 2, 2013 hi all looking for a bit of advise.going back to uk but the dollar has drop just recently so my dilemma is:unsure: now there taking about dropping interest rates next week will this make the dollar drop even further or will this help the dollar, so do I change it over now and take a loss or wait to see if it improves its all giving me a headache :confused: sparrow Sorry all out of crystal balls, but generally interest rate rise, more interest in the currency and it strengthens and vice versa. Change some now then wait and change the rest? It's always a gamble. Quote Link to comment Share on other sites More sharing options...
Parley Posted August 2, 2013 Share Posted August 2, 2013 You would expect the dollar to drop a bit when the interest rate cut is announced. What can happen though is that the cut may be already priced in to the exchange rate if everyone is expecting the cut to take place. the exchange rate will move more on an unexpected cut. But the expectation is for for further rate cuts so I think you are best to change your money sooner rather than later. Quote Link to comment Share on other sites More sharing options...
Quoll Posted August 3, 2013 Share Posted August 3, 2013 Down down down! Ah well, we've had it good for a while, back to normal Quote Link to comment Share on other sites More sharing options...
newjez Posted August 3, 2013 Share Posted August 3, 2013 Things do seem to be working against you. Can you exchange now or are you waiting on house sale etc? Can't see any reason why the current state of affairs won't continue. I doubt you'll go too mucn more without there being movement in UK interest rates, but two more rates cuts are forecast in Oz. hi all looking for a bit of advise.going back to uk but the dollar has drop just recently so my dilemma is:unsure: now there taking about dropping interest rates next week will this make the dollar drop even further or will this help the dollar, so do I change it over now and take a loss or wait to see if it improves its all giving me a headache :confused: sparrow Quote Link to comment Share on other sites More sharing options...
le petit roi Posted August 3, 2013 Share Posted August 3, 2013 Want another question to have to answer? ....lol. Do you have an open UK account to put it into? I don't know your timescales for going back but it is something else to consider and plan for. It's my recent experience that UK banks won't allow you to open a new account; although it's fine to use an existing open account. Quote Link to comment Share on other sites More sharing options...
KIRK AND CO Posted August 3, 2013 Share Posted August 3, 2013 Exchange now but look at it this way your still up on 3 years ago. Quote Link to comment Share on other sites More sharing options...
Guest The Ropey HOFF Posted August 3, 2013 Share Posted August 3, 2013 It was well over $2 about three years ago, they say the true figure is about $2.2 to $2.3 to £1 whether it will go so high I don't know, but the UK is gradually seeing growth in its economy and Australia is seeing a slight downturn, so the chances are it will gradually creep up to the $2 mark. Quote Link to comment Share on other sites More sharing options...
sparrow9999 Posted August 4, 2013 Author Share Posted August 4, 2013 thanks guys ill get on to moneycorp today and get it done lucky I still have an account open in uk so can move it straight away Quote Link to comment Share on other sites More sharing options...
ruthwin Posted August 4, 2013 Share Posted August 4, 2013 Its all abit ironic really...for us anyway. When we came back over here ( i'm a ping ponger) 8 years ago we did quite well with the exchange rates and we had made abit of money selling our house in Scotland. We made the decision to move back when the exchange rate was really good, but waiting on business to sell and now watching it plummet. Oh well, that's life I suppose. You just have to make the gamble on when to exchange. Quote Link to comment Share on other sites More sharing options...
Guest Posted August 4, 2013 Share Posted August 4, 2013 Its all abit ironic really...for us anyway. When we came back over here ( i'm a ping ponger) 8 years ago we did quite well with the exchange rates and we had made abit of money selling our house in Scotland. We made the decision to move back when the exchange rate was really good, but waiting on business to sell and now watching it plummet. Oh well, that's life I suppose. You just have to make the gamble on when to exchange. Historically the exchange rate right now is still pretty strong. Anything under $2 I think you are doing pretty well. Quote Link to comment Share on other sites More sharing options...
sparrow9999 Posted August 5, 2013 Author Share Posted August 5, 2013 hi ruthwin I am ping pong pom as well I live here before for a long time then returned to uk met my partner visited family over here in oz and my partner fell in love with the place, but now hes on a different page he thinks this country just drains you of everything you have and cant wait to go back home to uk. we are going to have one more summer here and the go home end of Jan beginning of Feb. really looking forward to going now it cant come soon enough for us, Quote Link to comment Share on other sites More sharing options...
ruthwin Posted August 5, 2013 Share Posted August 5, 2013 hi ruthwinI am ping pong pom as well I live here before for a long time then returned to uk met my partner visited family over here in oz and my partner fell in love with the place, but now hes on a different page he thinks this country just drains you of everything you have and cant wait to go back home to uk. we are going to have one more summer here and the go home end of Jan beginning of Feb. really looking forward to going now it cant come soon enough for us, I feel the same this time. I first emigrated as a young child with my parents. I always remember when they went backwards and forwards not ever really wanting to live in OZ. I can't put my finger on why, but as I now have older parents and a brother and his family here its pretty much the only thing that keeps me coming back. If I didn't have family here I would never have come back this time. Can't wait to get all our affairs in order. I don't think Oz is a bad place, but being in business has put a new light on everything for us. Its so very hard to operate , so many regulations and red tape. I am sure its hard in the UK too, but i'm worn out. A change is good as a rest I suppose! Quote Link to comment Share on other sites More sharing options...
newjez Posted August 5, 2013 Share Posted August 5, 2013 Just hit 1.72 Quote Link to comment Share on other sites More sharing options...
Quoll Posted August 5, 2013 Share Posted August 5, 2013 It was well over $2 about three years ago, they say the true figure is about $2.2 to $2.3 to £1 whether it will go so high I don't know, but the UK is gradually seeing growth in its economy and Australia is seeing a slight downturn, so the chances are it will gradually creep up to the $2 mark. I can remember the days of the $3 - that was not a happy situation! Not for an Aussie venturing anywhere else in the world anyway. Quote Link to comment Share on other sites More sharing options...
ruthwin Posted August 6, 2013 Share Posted August 6, 2013 i remember that too Quoll. I was living in the UK and sending money back ( I was in my late 20's I think) to Oz because at that point I thought I might buy a house here. In the end though I sent it all back to the UK to end up buying land and building a house in Scotland. We holiday'd in the uk in late 2009 and I think the exchange rate was at about 57p to the $ then and I still thought everything was cheaper in the UK. Food for sure in the supermarkets and clothes. Not petrol obviously , but I still believe that as you drive less miles in the Uk the cheaper petrol over here really doesn't help. Quote Link to comment Share on other sites More sharing options...
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