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Old Feb 21st 2004, 2:23 pm   #1
 
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Default More $ for your pounds?

I'm watching this rate go up - whats going on?

Should have all our money in the bank from the house by Friday - now we were going to take 2.4...

Anyone else in the process of a forward contract - and what are you settling for?

Max

...for those of you who can't read between my muddled lines I am talking about todays rate of 2.43 $ to the pound

Last edited by maxpaxx; Feb 21st 2004 at 2:41 pm.
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Old Feb 21st 2004, 2:35 pm   #2
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Default Re: $ rising!

Quote:
Originally posted by maxpaxx
I'm watching this rate go up - whats going on?

Should have all our money in the bank from the house by Friday - now we were going to take 2.4...

Anyone else in the process of a forward contract - and what are you settling for?

Max
Are you talking about the dollar rising relative to the pound or vice versa?
If the dollar is rising then it makes the pound worth less if you are going to Australia.

G
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Old Feb 21st 2004, 2:37 pm   #3
 
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Default Re: $ rising!

Quote:
Originally posted by Grayling
Are you talking about the dollar rising relative to the pound or vice versa?
If the dollar is rising then it makes the pound worth less if you are going to Australia.

G
..alright smarty pants
I think you can get the gist of what I am talking! ie more dollars for your pounds....currently 2.43 with HFIX
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Old Feb 21st 2004, 2:41 pm   #4
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We too have been keeping an eye on rates.
Have set up account with HIFX , hope this trend carries on for a while.
Might be picking up the phone soon and giving the go a head on a forward contract.

Anyone out there in the know? would appreciate advice!

all the best plum!
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Old Feb 21st 2004, 2:42 pm   #5
 
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Default Re: $ rising!

Quote:
Originally posted by Grayling
Are you talking about the dollar rising relative to the pound or vice versa?
If the dollar is rising then it makes the pound worth less if you are going to Australia.

G
Hope that makes it clearer for you G!
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Old Feb 21st 2004, 2:43 pm   #6
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Default Re: $ rising!

Quote:
Originally posted by maxpaxx
..alright smarty pants
I think you can get the gist of what I am talking! ie more dollars for your pounds....currently 2.43 with HFIX
Some news came out Friday of interest rates going up again in UK soon.
I am about to forward contract with HFIX but may just wait a little longer... I did my calculations on 2.50 to the pound when it was 2.75 last year as an average. Fingers crossed.
Andrew
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Old Feb 21st 2004, 2:48 pm   #7
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Default Re: $ rising!

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Originally posted by maxpaxx
Hope that makes it clearer for you G!
I knew what you meant
But the strength of the dollar and it's effect on you depends on whether you are going to or leaving Australia.
If you are going then a falling dollar is preferable.

G
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Old Feb 21st 2004, 2:49 pm   #8
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I,m thinking of cashing in soon!....doya think it could rise anymore?
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Old Feb 21st 2004, 3:27 pm   #9
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Quote:
Originally posted by plumber
I,m thinking of cashing in soon!....doya think it could rise anymore?
it could, but then it might not, but then again............

2.43 is about as good as it has been in a while.
 
Old Feb 21st 2004, 3:35 pm   #10
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BTW how do these forward contracts work?
 
Old Feb 21st 2004, 3:39 pm   #11
 
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Quote:
Originally posted by WBB
BTW how do these forward contracts work?
10% deposit on agreed rate at future date.

ie. we are going in Sept so HFIX will hold the deposit and we will hopefully at some point between now and Sept get that rate. We don't have to pay the balance until that agreed date even though we may get the rate tommorrow that we have agreed on..so quids in with the money in the bank getting interest...at least thats my take on it..probably wrong..and I'm sure someone will point it out
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Old Feb 21st 2004, 4:56 pm   #12
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Quote:
Originally posted by maxpaxx
10% deposit on agreed rate at future date.

ie. we are going in Sept so HFIX will hold the deposit and we will hopefully at some point between now and Sept get that rate. We don't have to pay the balance until that agreed date even though we may get the rate tommorrow that we have agreed on..so quids in with the money in the bank getting interest...at least thats my take on it..probably wrong..and I'm sure someone will point it out
eh?



you lost me there.

 
Old Feb 21st 2004, 5:15 pm   #13
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Forward buying:

You like the exchange rate today but don't need the dollars until Sep.
Cough up 10% of what you want to exchange and HIFX buys all your dollars at todays rate but you can't hve them till Sep.
You keep your 90% in pounds in the bank earning interest until Sep.
In Sep you pay HIFX the 90% and you get 100% dollars.

Lesley
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Old Feb 21st 2004, 6:58 pm   #14
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Quote:
Originally posted by lesleys
Forward buying:

You like the exchange rate today but don't need the dollars until Sep.
Cough up 10% of what you want to exchange and HIFX buys all your dollars at todays rate but you can't hve them till Sep.
You keep your 90% in pounds in the bank earning interest until Sep.
In Sep you pay HIFX the 90% and you get 100% dollars.

Lesley
gotcha, thats good to know, a bit of a gamble as the rate might go up, but then it could go down and your a winner.
 
Old Feb 21st 2004, 7:04 pm   #15
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Quote:
Originally posted by WBB
gotcha, thats good to know, a bit of a gamble as the rate might go up, but then it could go down and your a winner.
As I predicted some weeks ago the dollar is weakening
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