1.93's A$ to the Pound!!!
Sep 24th 2009, 10:36 am
#256
BE Enthusiast
Thread Starter
Joined: Jun 2008
Posts: 730
Re: 1.93's A$ to the Pound!!!
touched into 1.84's in last hour (interbank)!!!!!!!!!!!
Bloody Bank of England making dodgy announcements again to get the £ lower against US$!!!
Sure somebody at the BoE has a load of currency in US or AUD and wanting to bring it back so making sure they get the best rate!!!
G20 starts today, will be potential market moving news on the US$ up or down who knows!!??
Remember strong currency hurts economies recover and grow so at some point the Australians will have to intervene!
I'm very tempted at 1.85 to buy a spread bet long on the £/AUD but then been tempted a while now but just watch it as keeps going down - the bottom can't be far off surely!?
Bloody Bank of England making dodgy announcements again to get the £ lower against US$!!!
Sure somebody at the BoE has a load of currency in US or AUD and wanting to bring it back so making sure they get the best rate!!!
G20 starts today, will be potential market moving news on the US$ up or down who knows!!??
Remember strong currency hurts economies recover and grow so at some point the Australians will have to intervene!
I'm very tempted at 1.85 to buy a spread bet long on the £/AUD but then been tempted a while now but just watch it as keeps going down - the bottom can't be far off surely!?
Sep 24th 2009, 1:32 pm
#257
BE Enthusiast
Joined: Feb 2007
Location: WA but not forever!!!
Posts: 943
Re: 1.93's A$ to the Pound!!!
brilliant, don't forget to advise the tax man of your capital gain!!!! 
hopefully you can hold it in £'s for a while then send back at 2.46 again !
Half your luck mate, wish I had AUD to sell at the mo I would be backing up the car full of money to exchange as all these 1.40 to 1.60 predictions are as pie in the sky as those wanting to buy $'s predicting 2.20 to 2.40!
American/Chinese stockmarkets are main driver in all this you watch!! When yank market pulled back yesterday the Aussie doller slipped against the US$ and then £ gets stronger.
The stockmarkets have run ahead of the recovery and all the 'experts' say it needs to correct, it just takes one little negative event and the markets will slip back hard. Sept and Oct are famous bad months but if going to happen looks like October now so watch the markets for clues!
There have been a few false slips in the markets which could be a build up to a big crash but then again the markets could storm through and keep going up - nobody really knows - hindsight is a wonderful thing in all this!
There seems to be 2 camps on this thread those like me wanting stronger pound to buy $'s and those happy to see £ as weak as possible as wanting to buy £ with their $'s.
What I would say again is that if you are buying £'s don't fool yourself waiting for 1.40 to 1.60 as I have been there last year (waiting to buy $'s) when rate was 2.20 to 2.40 but I waited for 2.60-2.70 again, It never happened and now I'm looking at 1.86!!!! It sounds so daft that now even 2.09 a month or two ago sounds a bloody good rate!!!
hopefully you can hold it in £'s for a while then send back at 2.46 again !
Half your luck mate, wish I had AUD to sell at the mo I would be backing up the car full of money to exchange as all these 1.40 to 1.60 predictions are as pie in the sky as those wanting to buy $'s predicting 2.20 to 2.40!
American/Chinese stockmarkets are main driver in all this you watch!! When yank market pulled back yesterday the Aussie doller slipped against the US$ and then £ gets stronger.
The stockmarkets have run ahead of the recovery and all the 'experts' say it needs to correct, it just takes one little negative event and the markets will slip back hard. Sept and Oct are famous bad months but if going to happen looks like October now so watch the markets for clues!
There have been a few false slips in the markets which could be a build up to a big crash but then again the markets could storm through and keep going up - nobody really knows - hindsight is a wonderful thing in all this!
There seems to be 2 camps on this thread those like me wanting stronger pound to buy $'s and those happy to see £ as weak as possible as wanting to buy £ with their $'s.
What I would say again is that if you are buying £'s don't fool yourself waiting for 1.40 to 1.60 as I have been there last year (waiting to buy $'s) when rate was 2.20 to 2.40 but I waited for 2.60-2.70 again, It never happened and now I'm looking at 1.86!!!! It sounds so daft that now even 2.09 a month or two ago sounds a bloody good rate!!!
Hubby and I are looking to transfer our money back to the UK when we sell our house. I'm trying to understand capital gains because of the exchange rate and what we need to consider. I've googled (purhaps the wrong phrases) and not got what we are looking for.
Our situation is. Came over with equity at 2.3/2.4 and then spent money on house, furniture and I've not worked whilst being at home with the kiddes. If we return we will have less than what we came with but with the current exchange rate it means we haven't spent as much as what we would have if the rates hadn't moved. How does capital gains work when we've effectively lost money on the house as well.
Any guidance appreciated.
Still waiting for the "sold" sign as the offer is subject to finance but will probably transfer as soon as we have the ok and not play around with exchange rates.
Cheers y'all
Sep 24th 2009, 1:39 pm
#258
BE Enthusiast
Thread Starter
Joined: Jun 2008
Posts: 730
Re: 1.93's A$ to the Pound!!!
Hi all,
Hubby and I are looking to transfer our money back to the UK when we sell our house. I'm trying to understand capital gains because of the exchange rate and what we need to consider. I've googled (purhaps the wrong phrases) and not got what we are looking for.
Our situation is. Came over with equity at 2.3/2.4 and then spent money on house, furniture and I've not worked whilst being at home with the kiddes. If we return we will have less than what we came with but with the current exchange rate it means we haven't spent as much as what we would have if the rates hadn't moved. How does capital gains work when we've effectively lost money on the house as well.
Any guidance appreciated.
Still waiting for the "sold" sign as the offer is subject to finance but will probably transfer as soon as we have the ok and not play around with exchange rates.
Cheers y'all
Hubby and I are looking to transfer our money back to the UK when we sell our house. I'm trying to understand capital gains because of the exchange rate and what we need to consider. I've googled (purhaps the wrong phrases) and not got what we are looking for.
Our situation is. Came over with equity at 2.3/2.4 and then spent money on house, furniture and I've not worked whilst being at home with the kiddes. If we return we will have less than what we came with but with the current exchange rate it means we haven't spent as much as what we would have if the rates hadn't moved. How does capital gains work when we've effectively lost money on the house as well.
Any guidance appreciated.
Still waiting for the "sold" sign as the offer is subject to finance but will probably transfer as soon as we have the ok and not play around with exchange rates.
Cheers y'all
There is a tax agreement with UK and Aus so they don't double tax and assume that you have paid any Australian taxes whilst you were there.
Sep 24th 2009, 1:40 pm
#259
poole ,dorset . love it
Joined: Mar 2007
Posts: 1,281
Re: 1.93's A$ to the Pound!!!
touched into 1.84's in last hour (interbank)!!!!!!!!!!!
Bloody Bank of England making dodgy announcements again to get the £ lower against US$!!!
Sure somebody at the BoE has a load of currency in US or AUD and wanting to bring it back so making sure they get the best rate!!!
G20 starts today, will be potential market moving news on the US$ up or down who knows!!??
Remember strong currency hurts economies recover and grow so at some point the Australians will have to intervene!
I'm very tempted at 1.85 to buy a spread bet long on the £/AUD but then been tempted a while now but just watch it as keeps going down - the bottom can't be far off surely!?
Bloody Bank of England making dodgy announcements again to get the £ lower against US$!!!
Sure somebody at the BoE has a load of currency in US or AUD and wanting to bring it back so making sure they get the best rate!!!
G20 starts today, will be potential market moving news on the US$ up or down who knows!!??
Remember strong currency hurts economies recover and grow so at some point the Australians will have to intervene!
I'm very tempted at 1.85 to buy a spread bet long on the £/AUD but then been tempted a while now but just watch it as keeps going down - the bottom can't be far off surely!?
Where it may go tits up is if too many people go out spending on cheaper imported goods .
I guess we will have to wait and see but i think you are right the bottom is near 1.80 or so ,which to me is just perfect .
Sep 24th 2009, 1:41 pm
#260
poole ,dorset . love it
Joined: Mar 2007
Posts: 1,281
Re: 1.93's A$ to the Pound!!!
Hi all,
Hubby and I are looking to transfer our money back to the UK when we sell our house. I'm trying to understand capital gains because of the exchange rate and what we need to consider. I've googled (purhaps the wrong phrases) and not got what we are looking for.
Our situation is. Came over with equity at 2.3/2.4 and then spent money on house, furniture and I've not worked whilst being at home with the kiddes. If we return we will have less than what we came with but with the current exchange rate it means we haven't spent as much as what we would have if the rates hadn't moved. How does capital gains work when we've effectively lost money on the house as well.
Any guidance appreciated.
Still waiting for the "sold" sign as the offer is subject to finance but will probably transfer as soon as we have the ok and not play around with exchange rates.
Cheers y'all
Hubby and I are looking to transfer our money back to the UK when we sell our house. I'm trying to understand capital gains because of the exchange rate and what we need to consider. I've googled (purhaps the wrong phrases) and not got what we are looking for.
Our situation is. Came over with equity at 2.3/2.4 and then spent money on house, furniture and I've not worked whilst being at home with the kiddes. If we return we will have less than what we came with but with the current exchange rate it means we haven't spent as much as what we would have if the rates hadn't moved. How does capital gains work when we've effectively lost money on the house as well.
Any guidance appreciated.
Still waiting for the "sold" sign as the offer is subject to finance but will probably transfer as soon as we have the ok and not play around with exchange rates.
Cheers y'all
Sep 24th 2009, 1:46 pm
#261
BE Enthusiast
Joined: Feb 2007
Location: WA but not forever!!!
Posts: 943
Re: 1.93's A$ to the Pound!!!
I really hope that is the case. I've just heard others talk about it before now when talking about exchange rates but assume that's when they are playing about trying to make money. For us it is a simple straight forward moving money from one country of residence to another.
Sep 24th 2009, 1:46 pm
#262
BE Enthusiast
Joined: Feb 2007
Location: WA but not forever!!!
Posts: 943
Re: 1.93's A$ to the Pound!!!
I really hope that is the case. I've just heard others talk about it before now when talking about exchange rates but assume that's when they are playing about trying to make money. For us it is a simple straight forward moving money from one country of residence to another.
Sep 24th 2009, 8:18 pm
#263
BE Enthusiast
Joined: Aug 2006
Posts: 340
Re: 1.93's A$ to the Pound!!!
I really hope that is the case. I've just heard others talk about it before now when talking about exchange rates but assume that's when they are playing about trying to make money. For us it is a simple straight forward moving money from one country of residence to another.
In this case you would pay CG on the foreign exchange profit.
eg. You leave Oz when the rate it $1.80, but only bring your money over to the UK when it is $1.60. You will pay CGs on each 20c in the dollar of profit.
As the other poster mentioned, your main residence is not subject to capital gains when you sell it.
Sep 25th 2009, 12:52 am
#265
Melbourne - NE suburbs
Joined: Jun 2008
Posts: 1,032
Re: 1.93's A$ to the Pound!!!
25 Sep, 2009 @ 09:53 am AEST | written by ActionForex
http://ibtimes.com.au/articles/20090...llar-range.htm
On the UK front :
"Sterling dropped sharply after a news report saying that BoE is going to host a "crisis meeting" with major economists next Tuesday to discuss the quantitative easing program, raising speculation that a major change to the monetary policy framework would be announced. The news triggered renewed concern that BoE will be cutting the deposit rates. BoE Governor King said to a UK newspaper that Sterling's depreciation "will be helpful" to rebalance the UK economy to one that focused on exports, giving the green-light to further decline in the pound, in particular versus Euro. Sterling was lifted by the lack of discussion among MPC members about deposit rate cutting as shown in the minutes released yesterday. But the support on the pound disappeared today and Sterling dives to new low against Euro, Yen and Swissy."
On the Aussie front :
"RBA said in its half-yearly financial stability that the Australian financial system has remained "resilient" and banks have performed better than many of their offshore peers. Drastic improvements are seen in banks' balance sheets and downside risks have eased."
The trend continues downward as a result....very hard to pick where the bottom will be at this point. It may very well not be until the next UK election at this rate ?
Sep 25th 2009, 1:21 am
#266
BE Enthusiast
Joined: Jul 2009
Posts: 593
Re: 1.93's A$ to the Pound!!!
I'm wondering about a temporary boost to the pound when Brown is removed from No 10 next spring. Interesting that Pete Mandelson is talking to the press about reviewing the 50% tax rate. Was it ever going to happen? Was it a ruse enabling them to "give something back" to the electorate before an election?
Sep 25th 2009, 2:15 am
#267
BE Enthusiast
Thread Starter
Joined: Jun 2008
Posts: 730
Re: 1.93's A$ to the Pound!!!
we're all just doomed in the UK!
thankfully I have a visa and can escape - just a shame I'll have to leave my money in UK! FOREVER!!!!!!!!!!!
thankfully I have a visa and can escape - just a shame I'll have to leave my money in UK! FOREVER!!!!!!!!!!!
Sep 25th 2009, 2:20 am
#268
BE Forum Addict
Joined: May 2007
Location: Back in Blighty
Posts: 1,942
Re: 1.93's A$ to the Pound!!!
I'm dreaming of all sorts of scheme to use the money held hostage in the uk...but none of them seem overly workable.
How can you use UKP from Oz without exchanging it...theres only so much i can order from M&S online. Com'on someone must have some ideas...
It hurts to see what you've worked all your like for be devalued to such an huge extent or stuck unused waiting for a theoretical return to value or a return to the uk to live....
How can you use UKP from Oz without exchanging it...theres only so much i can order from M&S online. Com'on someone must have some ideas...
It hurts to see what you've worked all your like for be devalued to such an huge extent or stuck unused waiting for a theoretical return to value or a return to the uk to live....
Sep 25th 2009, 2:35 am
#269
BE Enthusiast
Thread Starter
Joined: Jun 2008
Posts: 730
Re: 1.93's A$ to the Pound!!!
I'm dreaming of all sorts of scheme to use the money held hostage in the uk...but none of them seem overly workable.
How can you use UKP from Oz without exchanging it...theres only so much i can order from M&S online. Com'on someone must have some ideas...
It hurts to see what you've worked all your like for be devalued to such an huge extent or stuck unused waiting for a theoretical return to value or a return to the uk to live....
How can you use UKP from Oz without exchanging it...theres only so much i can order from M&S online. Com'on someone must have some ideas...
It hurts to see what you've worked all your like for be devalued to such an huge extent or stuck unused waiting for a theoretical return to value or a return to the uk to live....
yip it hurts so bad that having worked hard and built nest egg makes the move more frustrating than if had no money!!
the way the rates going again tonight the thread should be renamed "1.83's A$ to the Pound!!!!!!" soon!
Sep 25th 2009, 2:37 am
#270
Melbourne - NE suburbs
Joined: Jun 2008
Posts: 1,032
Re: 1.93's A$ to the Pound!!!
The latest Monthly Economic Outlook issued by St George Bank attached for handy ref.
Handy for reference. Covers the broad spectrum of all the latest Australian economic data in one 14 page document, including housing and interest rates.
Interesting to note that on the exchange rate forecasts page, no real change in the AUD/GBP is forecast by them from 2009 Q3 through to 2010 Q2.
p.s.
To obtain full details of the National Hotspots (Sept 2009) suburbs report, please visit the St.George Bank website at
http://www.stgeorge.com.au/loans/hom...ata-Report.asp
(screen grab of the Exec Summary of that comprehensive 89 page document attached)
Handy for reference. Covers the broad spectrum of all the latest Australian economic data in one 14 page document, including housing and interest rates.
Interesting to note that on the exchange rate forecasts page, no real change in the AUD/GBP is forecast by them from 2009 Q3 through to 2010 Q2.
p.s.
To obtain full details of the National Hotspots (Sept 2009) suburbs report, please visit the St.George Bank website at
http://www.stgeorge.com.au/loans/hom...ata-Report.asp
(screen grab of the Exec Summary of that comprehensive 89 page document attached)
Last edited by DownUnderPaddy; Sep 25th 2009 at 2:52 am.