marie Posted April 4, 2016 Share Posted April 4, 2016 Hi, I have noticed the exchange rate seems to be dropping constantly lately. I need to transfer some money to Oz before mid july sometime after may. Any suggestions whether I should do this prior to EU Referendum or after? Link to comment Share on other sites More sharing options...
Peach Posted April 4, 2016 Share Posted April 4, 2016 * Shakes magic 8 ball * Link to comment Share on other sites More sharing options...
itegoa Posted April 4, 2016 Share Posted April 4, 2016 Hi, I have noticed the exchange rate seems to be dropping constantly lately. I need to transfer some money to Oz before mid july sometime after may. Any suggestions whether I should do this prior to EU Referendum or after? I'm currently waiting on a house sale in the UK, and I too have been watching the rate plummet. It's pretty depressing My plan is to have the money from the sale ready with Currency Fair, so that I can click the exchange button pretty quickly (if it's a "no" vote), or hang on a little longer and hopefully watch the rate increase (if it's a "yes" vote). Factor in the possibility of RBA dropping the cash rate too. Anything can happen... Link to comment Share on other sites More sharing options...
newjez Posted April 4, 2016 Share Posted April 4, 2016 I'm currently waiting on a house sale in the UK, and I too have been watching the rate plummet. It's pretty depressing My plan is to have the money from the sale ready with Currency Fair, so that I can click the exchange button pretty quickly (if it's a "no" vote), or hang on a little longer and hopefully watch the rate increase (if it's a "yes" vote). Factor in the possibility of RBA dropping the cash rate too. Anything can happen... You won't be able to hit the button. You may be able to set up some sort of trigger. Link to comment Share on other sites More sharing options...
pilotg2 Posted April 5, 2016 Share Posted April 5, 2016 If it were me and i needed the money say by August this year - I would balance the risk and transfer half before the vote and the remainder after. The A$ is currently drifting downwards after the RBA speech today helped by commodities flagging. Think long and hard and go with a decision which will give you the least regret in your time frame - no one will ever know when to get the best rate, we can only make an educated guess which is still a 100% gamble!!! The longterm view is the pound should strengthen against the A$ as rates are likely to go up in the UK before Aus (and we need a low dollar to pull us out of the mining bust so it will be encouraged) BUT that would be from late this year and ANY THING could happen to throw that view upside down! Link to comment Share on other sites More sharing options...
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