savanna454

Speculators - it won't last!

Stg now US$1.55 and A$1.19

UK Economy weak but no need to panic as that A$ is going to get hammered early to mid 2009.

Lots of tax defaults and business failures feeding through already with much worse expected when the BAS instalments are due late Feb 09.

Normally these would be vigorously pursued but Canberra want a 'softly softly' approach to try and prevent business failures as much as possible.

This will have an effect on revenues at a time they're needed most.

They're good at talking the talk here +ve growth? - I seriously doubt it.

chilliman

Well lets hope so - is not looking good at the moment!?!

Back to the Dad's Army quotes - "Don't Panic Mr Mannering"!

MrCro

2.15 what on earth is going on!?

2.30 looked so unattractive only week ago and now seems a brilliant rate!

AndyR

Oh crap this is just getting worse and worse.

Twinset

It's only a moment in time - total sympathy if you have to change a lot of money at the moment, but looking better every day if you are changing the other way.

You are only going to torture yourself at the mo by looking at the rates, which are deffo on a swing. They are swinging so rapidly that all may be etter in matter of months.

Happy Crimbo all.

krunchynutt

Hope we dont hit unity like the euro

Twinset

MartinLuther

I thought that was the plan. Hit unity, change over, no need to spend any money converting anything.

MrCro

does anybody know what the Xmas forex trading days off are?

Reading fan

Sorry no but has anyone actually done a bit of trading back and forth and if so who did they use ? We are thinking of a little gamble.Transferred a bit in Oct time now thinking of trading back (say for a least 6 mths when hopefully things get better with GBP).Mentioned it to the co that we used originally ie.circumstances have changed might be moving back to the uk (at the time we were thinking about it )- they didn't like it at all couldn't be party to profiteering etc.

MrCro

if you read this whole thread you'll see I plan to trade just need 2.33 otherwise I lose out on my last rate! Ukforex advise you are free to move between your own accounts as much as you like, they just can't hold your money for speculative trading.

And you must declare any capital gains to the tax man!

Reading fan

Thanks for that we would need 2.30 taking into account loss of interest etc. I have an account with Ukforex so have dropped them a line.Do you know if oxforex are a completely different operation (obviously better with time diff) ?

MrCro

same company, also in canada now I believe.

can ring them pretty much 24/7. I ring the 0845 UK number and if late a night like now it diverts you straight to sydney office.

autorock

I think I can, I think I can, I think I can, I think I can, I think I can....

Doh! I can't!

Unfortunately for me this is one thing unaffected by any amount of positive thinking!

Twinset

Hey Autorock, how goes it?

"Whether you think you can or think you can't you are right" is different from "I can affect the multibillion dollar process that is Forex", but you can control how you respond and choose your attitude, which you absolutely have had to do this year. How goes the plan?

I had this mad spreadsheet that showed what we would make if forex went as high as $2.80, but settled for rather less than that after doing the research about the maximum highs over the last ten years. Bank of Canada have a very good spreadsheet that shows highs and lows for up to ten years of trading.

Hope all is well, and Happy Crimbo!