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Aussiebird

Uncertain dollar

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As of today, AUS to the GBP is $1.86

Hope it doesn't keep going down as will make selling in UK and buying in Oz really worrying!!

Looks like in for a bumpy ride!

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13 hours ago, Aussiebird said:

As of today, AUS to the GBP is $1.86

Hope it doesn't keep going down as will make selling in UK and buying in Oz really worrying!! 

Looks like in for a bumpy ride!

I transferred a small amount last month when it was $2 - £1 (wish id sent all of my money), going to leave my cash in the UK for now and hopefully the rate improves when the UK starts coming out of lockdown.

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16 minutes ago, Lavers said:

I transferred a small amount last month when it was $2 - £1 (wish id sent all of my money), going to leave my cash in the UK for now and hopefully the rate improves when the UK starts coming out of lockdown.

Good luck with that with a potential hard Brexit looming.


Timeline: 309/100 Sent 7/8/13, Money Taken 9/8/13, CO appointed 3/9/13. Med 3/12/13. Police check 4/12/13. VISA GRANTED 8/4/14, Subclass100. Recce August 2014. Arrived 30 July 2015.

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1 hour ago, Gbye grey sky said:

Good luck with that with a potential hard Brexit looming.

What Brexit?

It will be very soft as it doesn't favour anyone if things become harder.

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Hi there,

At the moment there's little reason for GBP to strengthen, given the Covid numbers remaining extremely high in the UK and no containment of the virus - as well, with the Bank of England signalling there could be negative interest rates in the UK, the AUD and the Aus economy is definitely looking the stronger of the two. 
The only major issue which could unsettle that Australia's ongoing war of words with China and the enormous tariffs they are slapping on Australian goods - whilst we know they're largely dependent on Australia for their huge Beef requirement (their second source being South America - which is now the centre of the pandemic) and Barley, until the waters calm the markets are understandably nervous about AUD volatility. 

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I come out to Australia when they had just voted on Brexit. The Dollar was at $1.90 -£1 and then after the vote it dropped to $1.60 🤦🏼‍♂️ Managed to get $1.68 by the time we came out here. 

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Wish I moved all my money last month when it was 2 - 1.

Moved some more yesterday before its get worse, the rest can stay in the UK until I'm ready to buy a house in Aus.

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Posted (edited)

You will probably just have to get used to the exchange rate fluctuating. 

It was about $3 to the pound when we came in 2003, it had been fairly static for quite some time. A few months later it started to drop just as we were house hunting.

The lowest exchange rate has been as low as $1.5  or just under to the pound since we came, So an uncertain dollar is nothing new. 

Edited by ramot

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17 minutes ago, ramot said:

You will probably just have to get used to the exchange rate fluctuating. 

It was about $3 to the pound when we came in 2003, it had been fairly static for quite some time. A few months later it started to drop just as we were house hunting.

The lowest exchange rate has been as low as $1.5  or just under to the pound since we came, So an uncertain dollar is nothing new. 

Once most people have set up home and started earning Australian dollars then exchange rate isn’t as important, once you are established.

However we retired here and only have UK  income, so as a retiree you can be hit hard by a big drop in the rate. 

 

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On 23/05/2020 at 07:50, Lavers said:

Wish I moved all my money last month when it was 2 - 1.

Moved some more yesterday before its get worse, the rest can stay in the UK until I'm ready to buy a house in Aus.

Have you go a job to go to when you arrive in Australia? 

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2 hours ago, Aussiebird said:

Have you go a job to go to when you arrive in Australia? 

No nothing lined up, just going to have a couple of months off whilst we get sorted then hopefully I get something 🤞

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On 23/05/2020 at 23:00, ramot said:

Once most people have set up home and started earning Australian dollars then exchange rate isn’t as important, once you are established.

However we retired here and only have UK  income, so as a retiree you can be hit hard by a big drop in the rate. 

 

Hello!
Don't forget you can lock in a good rate when you see one with a 'forward' FX contract if you don't need the money right away.
Sounds so much more complicated than it is!
ie. My UK Pension payments are paid quarterly. Although I'm not expecting one until July, when the rate was at 2.00 (beginning of April) I could have booked a deal on that day and locked in the rate for the funds to change hands on 01st July.
All it means is you're securing a deal at a rate you like, but no money is changing hands until the date you need it. Definitely something to consider to prevent being exposed to market volatility>

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