Editha

I'm trying to decide whether to move Canadian funds to the UK now, or wait until after next Thursday. The rate is good now, but if the Brexiters win the pound will drop even more.

What is everyone else doing?

spouse of scouse

Biting my nails is what I'm doing, Editha! We've had an offer accepted on an investment property, which means transferring funds from Oz to here. The sum represents a good chunk of our savings and like everyone, we want the best FX rate. Even the Forex private deal broker I spoke with doesn't have a clue which way this is going to go.

I got a great rate online around midnight last night, AUD/GBP 0.5188. OzForex said they'd tried to call us in the UK to confirm the deal (they didn't), and because they couldn't get hold of us the deal was automatically cancelled. The best rate I can get today would see the transfer cost us an additional AUD2,000 - bugger that for a game of soldiers.

I'm going to put a 'limited order' in, which means I choose the rate I want (which will be 0.5188) and the transfer will go through automatically when/if OzForex can purchase our funds on the market at that rate. If that rate hasn't been achieved in a few weeks, when we'll really need the money, we'll just have to make do with the best available rate at the time.

Best of luck whichever way you go

feelbritish

We are waiting for next week

Editha

I think I'm going to exchange now, on the bird-in-the-hand principle.

Tr1boy

We've got money in the UK, Oz and a house in Sth Korea. We're screwed whatever happens

J.JsOH

Each time I move cash from US to UK I seem to end up kicking myself for not having done it the week before, and this over the past 6 years which has seen rates fall from 1.65 to 1.4 ish.

Move now or after Thursday? Depends how you will feel if you make the wrong choice.

If I had a sizable sum I would move half now and half after. That way, I would feel I won on at least half the money, whether before or after Referendum.

John