1.76 Whats happened to Exchange Rate????? Ouch
Jan 30th 2010, 3:07 am
#76
Lost in BE Cyberspace
Joined: Oct 2005
Location: Hill overlooking the SE Melbourne suburbs
Posts: 16,622
Re: 1.76 Whats happened to Exchange Rate????? Ouch
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.
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.
Jan 30th 2010, 3:09 am
#77
Banned
Joined: Feb 2009
Posts: 1,855
Re: 1.76 Whats happened to Exchange Rate????? Ouch
OZ has massive natural resources CHINA and the whole world wants while the UK has a bankrupt financial sector, so thats why the AUssie dollar is strong and the pound weak, why the OZ economy is booming and the UK in recesion.
Jan 30th 2010, 3:34 am
#78
Account Closed
Joined: Jul 2006
Posts: 14,188
Re: 1.76 Whats happened to Exchange Rate????? Ouch
I'm sure ABC will be along soon enough to tell us.
Jan 30th 2010, 4:58 am
#79
Frequent Flyer Member
Joined: Jun 2007
Location: Melbourne
Posts: 10,994
Re: 1.76 Whats happened to Exchange Rate????? Ouch
The Australian economy grew 0.2% in the last reported quarter - is that what you call 'booming'?
Jan 30th 2010, 7:53 am
#82
BE Enthusiast
Joined: Jul 2009
Location: Sydney
Posts: 313
Re: 1.76 Whats happened to Exchange Rate????? Ouch
In the UK inflation has rocketed this quarter and house prices are on the up all of which could lead to an interest rate rise later this year. The UK economy is at a turning point but it is crawling to it for sure. Round 0.1% down and you get 0%. 
The exchange rate hasn't stopped us coming over but has stopped us transferring so much and has dramatically reduced the length of time that we were planning to go without work. We need those Ozzy dollars ASAP!
The exchange rate hasn't stopped us coming over but has stopped us transferring so much and has dramatically reduced the length of time that we were planning to go without work. We need those Ozzy dollars ASAP!
Last edited by 77hil; Jan 30th 2010 at 7:56 am.
Jan 30th 2010, 10:12 am
#83
Lost in BE Cyberspace
Joined: Oct 2005
Location: Hill overlooking the SE Melbourne suburbs
Posts: 16,622
Re: 1.76 Whats happened to Exchange Rate????? Ouch
Agreed. It must be very tough to make a financial case to emigrate from the UK to Oz at the moment. It would be interesting to see how much, if any, reduction there has been to numbers coming from the UK in the last 18months.
I'm sure ABC will be along soon enough to tell us.
I'm sure ABC will be along soon enough to tell us.
Unless a 6 figure salary awaits, or several hundred thousand in pounds, more, is available.
Feb 4th 2010, 4:18 am
#84
Forum Regular
Joined: Mar 2009
Posts: 33
Re: 1.76 Whats happened to Exchange Rate????? Ouch
Moved out here a couple of months ago and the exchange rate is a definite bit of angst I could do without!!!
Feb 4th 2010, 7:00 am
#85
Joined: Jan 2005
Location: Asia Pacific
Posts: 4,922
Re: 1.76 Whats happened to Exchange Rate????? Ouch
With the possibility of more QE to come, inflation rising, serious risk of recession again (although I suspect the figure of 0.1% was rubbish anyway), I know which economy I would rather be in at present. The one that actually has something to sell people and isn't facing the financial equivilent of the Bailiffs
http://news.bbc.co.uk/2/hi/business/8496830.stm
None of this is meant as a gloat or similar, I just don't see how the UK can get out of its rather unfortunate position for many years to come.
Feb 4th 2010, 7:29 am
#86
Melbourne - NE suburbs
Joined: Jun 2008
Posts: 1,032
Re: 1.76 Whats happened to Exchange Rate????? Ouch
With the possibility of more QE to come, inflation rising, serious risk of recession again (although I suspect the figure of 0.1% was rubbish anyway), I know which economy I would rather be in at present. The one that actually has something to sell people and isn't facing the financial equivilent of the Bailiffs
Feb 4th 2010, 8:52 pm
#87
has lost The Game
Joined: Apr 2005
Location: Chippendale, Sydney
Posts: 8,735
Re: 1.76 Whats happened to Exchange Rate????? Ouch
on the subject of the gbp-aud ex rate here, i am always somewhat bemused to observe some people, who are obviously coming here with plans to settle permanently, actually looking for the oz economy to crash so that their stg will get a better exchange rate. seems a bit like cutting off your nose to spite your face really.
Yes, I often ponder over this. Why anybody would want to make a life decision to move to a country that they are actively hoping will under-perform economically is a mystery to me.
I suspect it's the sad fact that many people that post here are unable to see beyond the end of their nose, so cutting it off may offer them some benefit
S
Feb 4th 2010, 10:23 pm
#90
Joined: Jan 2005
Location: Asia Pacific
Posts: 4,922
Re: 1.76 Whats happened to Exchange Rate????? Ouch
on the subject of the gbp-aud ex rate here, i am always somewhat bemused to observe some people, who are obviously coming here with plans to settle permanently, actually looking for the oz economy to crash so that their stg will get a better exchange rate. seems a bit like cutting off your nose to spite your face really.