Just noticed the exchange rates getting better

[Guest chris955]

Yes that's the problem, people can guess and speculate at best but no-one really knows.

[Guest FruitBat]

I always get mine from these guys. Never let me down yet.

 

Travel Money Card - Best Exchange Rates - FairFX Currency Card

 

Their 'Anywhere' pre-paid credit card always gives a great rate and avoids the usual credit card abroad surcharge.

 

 

FB

[Guest gratom]

Don't forget that the pacific exchange rates[Aus included] are being seriously influenced by the Korean situation;which given the less than rational outlook of the nth koreans has the power to blow up into something very dangerous.They have gone on military alert and said the sth korean ships are not to enter disputed waters--which is a direct challenge to the south.If that situation becomes more volatile then the Aus $ will be very seriously affected[probably go into freefall]:mad:

[sgperry]

Don't forget that the pacific exchange rates[Aus included] are being seriously influenced by the Korean situation;which given the less than rational outlook of the nth koreans has the power to blow up into something very dangerous.They have gone on military alert and said the sth korean ships are not to enter disputed waters--which is a direct challenge to the south.If that situation becomes more volatile then the Aus $ will be very seriously affected[probably go into freefall]:mad:

 

And in addition to the Korea situation, there is the ongoing situation regarding the Euro. Another problem that seems to get worse, get better, then get even worse again.

 

Apparently, the Aussie dollar is a "risk" currency - investors flock to it in good times as the rewards are good (higher interest rates, capital appreciation) but the old adage of "greater risk, greater reward" looks a bit scary in troubled times - ie. Korea and the Euro.

 

The issue with the Euro is that if Europe is broke, then who is going to buy all those things being made in China, and if their markets dwindle then the Chinese won't want so many raw materials from Australia.

 

Watch how when the price of commodities (copper, metals, iron, coal, etc and other things used for production or raw materials) falls so does the Aussie dollar.

 

No one can say which way the rate will go - its the one thing we all agree on, I think - but with Korea, and especially with the Euro - these problems will not be resolved overnight.

 

My hunch is that the Aussie will continue to fall against sterling, but not to those heady days of when you could buy $2.42 to the pound. Perhaps around $1.90 by the end of the calendar year????

 

My hunch, and also very much my wishful thinking :rolleyes:

[Guest Boyle family]

All I know is ...... If I hadn't have been so excited when it went up to the rate of £1.00 being worth 1.70 aussie dollars I would've got more dollars for my money.

Jumped too early & missed out!!!

Patience never was my strong point.

[fleabo]

All I know is ...... If I hadn't have been so excited when it went up to the rate of £1.00 being worth 1.70 aussie dollars I would've got more dollars for my money.

Jumped too early & missed out!!!

Patience never was my strong point.

 

That's called hindsight :wink: Anyway enjoy spending/investing your Aussie dollars, they are worth every penny you paid for them!

[Guest Rickard Family]

All I know is ...... If I hadn't have been so excited when it went up to the rate of £1.00 being worth 1.70 aussie dollars I would've got more dollars for my money.

Jumped too early & missed out!!!

Patience never was my strong point.

 

 

When did you exchange yours, we are waiting, dont know if to go for it now or wait!!!! Like yourself no patience!!!!!!!!!!!!!!! Aaaargh!:arghh:

[fleabo]

When did you exchange yours, we are waiting, dont know if to go for it now or wait!!!! Like yourself no patience!!!!!!!!!!!!!!! Aaaargh!:arghh:

 

Have you spoken to a forex company - there are things you can do to mitigate against falls, and take advantage of improved rates. I think they are called 'stops' and something else. I am no expert (as you can see), so I suggest you talk to one if you have not already done so. Cheers and good luck!

[Guest londongirl]

The website XE - Six Steps to Improve Your Trading says successful traders manage risk using 'Limit Orders' and 'Stop/Loss Orders' which effectively lock profit and loss limits. Can us mere mortals use these or do we need trading experts to do it for us?

[Les Avalook]

The website XE - Six Steps to Improve Your Trading says successful traders manage risk using 'Limit Orders' and 'Stop/Loss Orders' which effectively lock profit and loss limits. Can us mere mortals use these or do we need trading experts to do it for us?

 

Really that advice works better for trading currency i.e. buying $s and also be prepared to sell them again, but most of us want a one way trade (unless you change your mind to go) so it would appear that the advice of 'hedging' your requirements by buying some of your $s when the rate gets close to what you will be satisfied with still works best for Poms to Oz.

 

For a 10% deposit one can book x amount of $s at maybe $1.80 to £ to catch any upward spike.

[sgperry]

When did you exchange yours, we are waiting, dont know if to go for it now or wait!!!! Like yourself no patience!!!!!!!!!!!!!!! Aaaargh!:arghh:

 

If you can hold on for a few weeks more before exchanging your currency, bear in mind that the UK budget will be announced on 22nd June.

 

If it is as "bad" (read massive cuts, increased taxes and so on) as many experts are predicting - bearing in mind the govt's emphasis on reducing the deficit - then this could be good for the exchange rate.

 

ie. I believe the currency markets will see a "bad" budget as being very good for the british economy.

 

On the flip side, it seems that there may not be any more interest rate rises in Oz for a while and the gloom surrounding the mining tax seems to be casting a bit of a shadow.

 

So potentially good news on the horizon for sterling re exchange rate, and no corresponding "good" news coming out of Oz for the Aust dollar - in my tiny mind that means that (hopefully) the exchange rate for us trying to convert sterling will improve.

 

Of course, there is always the issue of the Euro, which influences both currencies but it seems the Oz dollar moreso - but I suspect given the size of its problems, it will be a while before anything other than bad news comes out of there. Which I think is better for sterling than the Aus dollar.

 

All in all, based on the above I am holding onto my sterling until the end of June and hoping to exchange it around then.

[Guest guest30038]

I

 

On the flip side, it seems that there may not be any more interest rate rises in Oz for a while and the gloom surrounding the mining tax seems to be casting a bit of a shadow.

 

 

 

Despite their professed "disgust" at the tax, they don't seem that disgusted when it comes to offering 5 billion to buy the Qld rail network :rolleyes:

 

can't be all gloom for 'em eh? :biggrin:

 

kev

[Guest John from Moneycorp]

successful traders manage risk using 'Limit Orders' and 'Stop/Loss Orders' which effectively lock profit and loss limits. Can us mere mortals use these or do we need trading experts to do it for us?

 

Hi londongirl

Yes, there are different contract options available when buying your currency (stop-loss order or limit order for example). These options could protect you from any downward/negative movements in the market and also ensure you get the most for your money.

By using a currency specialist company, they will give you free, expert guidance on the merits of these contracts and which may best suit your requirements.

Thanks

John

[heyyu]

Despite their professed "disgust" at the tax, they don't seem that disgusted when it comes to offering 5 billion to buy the Qld rail network :rolleyes:

 

can't be all gloom for 'em eh? :biggrin:

 

kev

 

no the head of rio tinto flew in for talks with government today and wasnt ruling out paying more tax.there not going anyware else this is the easyist mining in the world scoop it up put it on a train on a ship and away,a lot of oz minerals lay on top of the ground and its not difficult to extract.

[Guest Boyle family]

Hi Rickard family, I bought my dollars from Moneycorp on the 20th of May, their rate was just slightly better than Halo Financial which was the only other company I tried. Both companies told me that they were expecting the jump to be short lived although they couldn't be certain. The rate was already slipping back down gradually so I panicked & traded & then it all started climbing again. The reasons why the rates dip & peak go over my head slightly & it does seem that no one is quite certain whether it is just a blip or not. Hope you get a good rate before you go. Do you know what area you will be settling in yet? Will be interested in seeing any post you leave once you are there as we are following in September. Janet

[janieco]

It could be worse...isnt that what people say when their situation is crap but could be crappier lol paid 111k now worth 350k ...mate you missed out big time on the boom :biglaugh:

[legoman]

A place is only worth what people are willing to pay for it. and if you are moving you pay the upper price on a new house anyway