bcworld

Maybe think of it as 0.2t instead - much more palatable!

swigski

Booming? Wake up will you!

sybilipicus

very true!

on a related issue-does anyone have any recommendations on which fx site are doing the best rates at the moment? I check a couple of them (hifx and ozforex) but was just wondering if there are any others I haven't heard of!

Think just going to bite the bullet and move cash soon as much easier to budget when you know how much money you have in the currency you need to spend it in even if do take a bit of a hit on what hoping for!!

Centurion

Ozforex has an excellent reputation with members of this site and I use them frequently.

MrCro

aussie doller dropping hard against yank dollar last week - £ normally gets stronger against aussie then!

Centurion

Unfortunately it seems that all markets are about to hit dirt on the back of return to bear market speculation. Including the UK which fell 1.5%. This could all end up very scary for most countries - again.

It appears that people might have actually realised paying your debts with a credit card isn't smart.

DownUnderPaddy

Does what used to be considered 'normal' apply any more these days though

We live in a brave new world these days it seems !

TheSun

well if the aussie dollar gets too high and those resources get too expensive then china and who ever else wants it will simply buy it from latin america, russia or africa. we're not the only ones who dig this stuff up you know! anyway aus it not booming its just that rudd spent $200 bn buying us out of recession. money that has now prety much run its course...............

DownUnderPaddy

yep - back down to 1.76 once again !

Alfresco

Just sent $100 to my new bank acc in Oz at that rate.

DownUnderPaddy

1.721......That's a fresh all time low.

Does it possibly indicate the start of the next leg of the slippery dip after a few months of respite or will it shoot back up to 1.80 in the next week ?

Predictions ? Put em down in writing here so we can all look back in another 6 months and award prizes to the most accurate Mystic Megs among you all

MrCro

it's DOOMED, looks like I'll be prisoner in UK with my £'s for years to come. No paying equiv of £4-5 for me in Oz drinking 3/4 of a pint of kangaroo pee tasting beer!

On a serious note, who's knows it's all very strange, figures out of UK this week been pretty good on jobs etc but £ gone down vs aussie?

The last 2 dips tested 1.73 then 1.725 so will this test 1.72 and bounce back towards 1.80 on any good UK financial news next week? Or has it tested 1.72 and will break lower.

If I knew for sure I'd be a millionaire Rodney!

Off to Oz in September regardless, will just have to take funds we need to set up and get a job quick smart, sure £ will spike higher sometime in next few years and we'll then get money over there (will be like winning the lottery!)

IF YOU HAVE A$ TO BUY £'s THOUGH PEOPLE THESE ARE GOLDEN TIMES GET BUYING! DON'T BE FOOLS AND WAIT LIKE I DID WHEN SHOE WAS ON THE OTHER FOOT IN OCT 2008!!!!

Centurion

Jobs news maybe update but the news about the entire economy isn't rosy by far which is why investors are selling off government bonds even in a rush to dump the pound. Buying sterling at the moment is risky to say the least given there is even more economic doom predicted. It will eventually turn itself around but we are talking years now not months or a couple of years imo.

But your right in relation to migration, come to Australia and earn $$$'s and get on with life. Its too short to be worrying about.

Zambia

I think the Cro is right no may just be the time to boost the Sterling account.

neil248

The fact is nothing out of the ordinary has happened to the exchange rate.

We are directly affected as part of our income still comes from the UK. We arrived in 2006 and averaged about 2.4 $ to the pound on our early transaction so this became our bench mark. Our last exchange was 1.72 which feels painful.

A few historical rates

June 1974 1.608 au $ to the pound

Oct 1976 1.28

Dec 1984 1.402

Oct 1998 2.94

Dec 2009 1.8

These dates obviously picked for their extremes and apart from the last one are a long time ago. If it has been as low as 1.28 before then there is no reason for it not to happen again.


It does look bad if the UK finacial sector is in discrace and if things do get worse it will come to the point where it is not worth my while working from here for UK pounds if they buy less and less in Australia.

I got the figures from www.ecomagic.com so you can check for yourself. The Australian ATO also has historical rates but could not get on the site for some reason.