ROMFT_WO2RN

now I'm not in the UK then double digit inflation would be good as wages would go up and so therefore would my future pension increase. Bit of a pisser for those in the UK but as the saying goes "I'm alright Jack"

A stronger pound would also be good for my UK pension conversion too even with the extra tax

Amazulu

In an ideal world, rising inflation would mean rising interest rates, which would be good news for my UK savings. But as the UK govt. is playing silly buggers with their economy I can't see interest rates rising

ROMFT_WO2RN

The pound can also weaken once a year for the few days I need to transfer the tax bill over

Ballys

Not so sure bout the wages.

ROMFT_WO2RN

I'd expect govt dept wages would increase at some ratio of the inflation figures over and above the 0% I had for the last few years.

benflux

I'm predicting 1.8 by August. If I don't say it, how can i be right/wrong? :-)

GarryP

Since 14th April, the exchange rate has been rising $0.1 per month, roughly, with a slightly faster rate in recent weeks.

Today it's at approx £1 : $1.64

We can be fairly sure, if things continue as they have, that by mid month we'll over $1.65, and by mid July $1.75 - which would indeed yield $1.8 by August.

Of course, there's no guarantee that things will continue. The rate is testing 2 year limits and someone will want to take profits. The new BoE guv is supposed to want a weaker pound. However, if you were wanting to shift money UK>Aus it could be worth waiting and keeping a keen eye on the graph to see when it tips over.

palmer59

$1.715 today......so are we at last seeing the dollar heading back towards $2 to the pound......I hope so.....fingers crossed !

Alfresco

Indeed!

carolinephillips

Bother- transferred 40k over last week!!
Still it is saving us more per month off our mortgage than waiting for that rate to get even better.

Mike at Taree

Which it should be, roughly. Remember that the Australian Dollar is just half a pound - when they decided along with the rest of the Commonwealth to go for the "ten shilling unit" when they went decimial (NZ Dollar, Rand, etc).

To make the changeover less confusing for the poor old Aussies who thought that everything was going to suddenly be twice as expensive they deliberately designed the dollar note to be similar in colour to the ten shilling note, as well as making the two dollar note the same colour as the old pound note.

In fact even up to the 1980s it was common for people to refer to the $2 note as a "quid note", as well as 20c pieces as "two bobs".

Alfresco

Transferred this week @ 1.675, so not complaining too much.

old.sparkles

When I moved mine at the start of April I got 1.475 - don't even want to work that out - ouch

Mike at Taree

Used to be the other way round until the last few years. When we went to the UK on holiday in 2000, you could get a feed in a typical Westfield Aussie food court for 2 Adults and 2 kids for a $20 note, in the UK we had to chuck over a fifty pound note for a similar feed.

Tramps_mate

I hesitated moving all my AUD back to GBP back in April.. Kicking myself now. Lost about £80 per $1000.. Will it ever go back again? Or is leaving it longer going to be worse? Not an insignificant amount either..