MrCro

yep back in 1.80's now - roller coaster at the mo!

at least roller coaster is improvement on downhill skier!!!!!

Alfresco

Yeah, early days yet.

bcworld

I'd look at this way - there is positive news starting to emerge from the UK - falling unemployment numbers, postitive economic growth (just!) - and the best the pound can manage is $1.80. It's hard to imagine a reason for any short term strengthening of the pound. Odds of more Aussie IR rises are firming every time new data comes out.

MrCro

potential unwind of carry trade positions will be the key, regardless of £s situation if the A$ positions against US$ sell off the £ flies against A$!!

It's on the cards, more and more in news especially now China looking to arrest their dangerous boom as looking like a bubble!

Centurion

My money will stay out of the UK for the next few years regardless of anything else. Its in a frightening state. They have yet to announce the next budget, which I think will read more like a horror story.

Amazulu

I'm doing the same as you. If UK does not make drastic cuts in spending then they are going to be in even more trouble - although I think (hope) the weak GBP is going to be of benefit to UK industry in the next few years. I'm hoping they get some real inflation over there so that I can start earning some interest again!

jimbo_d

It will come down to what happens in May. The ratings agencies are holding off a downgrade to the credit rating until then. If the Conservatives get in it's likely things will improve and they'll keep the rating, if Labour do then the country is well and truely buggered as they'll get a downgrade and wont be able to borrow more. It's a tough call for anyone with money still there, do you take advantage of any potential gains in the next month or so before May, or risk holding for the hope of a decent government, and the clowns get re-elected and watch your savings go up in smoke?

Amazulu

Nothing is certain but I really cannot see the champagne socialists winning the election.

seanpears99

Luckily we managed to exchange at 2.12, cant believe this thread has ever saw the light of day again lol

JenJen

Almost feel like we'll be throwing our money away - hoping to move over to Oz in the next 3 months but don't know what to do with whatever money we have left when we sell.
Bloody country

Alfresco

Yeah it sucks (exchange rate).

77hil

I'm moving in 3 months and will just be taking over the bare minimum. I'll likely be renting initially anyway so won't need to transfer any big house deposit amounts.

iamthecreaturefromuranus

Which is a good plan... unless of course, come 12 months down the road when you do need to exchange, the pound has reached 1.50.

Then what?

77hil

Or 12 months down the road the pound might have slowly recovered to 1.9 or 2.00 and I'll wind up being pretty happy. You don't know what will happen and nor do I. It's my money and my risk. Cheers for the concern though.

iamthecreaturefromuranus

You're right, I don't know what will happen. What I can say is that I've only been here four years, and I exchanged at 2.33.... and was disappointed with that !!. You would be hard pushed to find anybody who's moved here in the last year or so, who would now be happy that they left their money behind in the UK, waiting for the pound to bounce back up.

With everything I read about both the UK and Australian economies I'm quite surprised that the pound has seen the small bounce back this week. If I was speculating on the FX markets, then personally I would be backing against the pound rising against the Oz dollar.

Still, as you said, its your money and your risk. Good luck with your decision.