MrCro

yip so a peak is long overdue! Never has there been such and oversold £

DownUnderPaddy

a peak is long overdue, or a further extension of the slippery dip lies ahead.
Tis like playing the stock market. Who knows ?

MrCro

£ picked up over a cent overnight, not sure why as not watching market so close anymore - had enough of the nonsense!

I've got 6 months to go so hopefully an opportunity will reveal itself!

freebo

£ picked up because the Dec inflation figures suprised to the upside, biggest jump on record leading to expectations of interest rate rises and an early end to Q.E. - not so much good news for the general economy than a positive for the pound.

http://www.independent.co.uk/news/bu...s-1873111.html

TakenThePlunge

And then the unemployment figures actually fell - that should also provide a boost to the pound

MrCro

it sure did another cent now over 1.79 was 1.77 yesterday

wish I'd taken a punt on a forex position at 1.73 as that seems a firm bottom at the mo. If my money was in A$ and looking to buy cheap pounds I think 1.73 looking best buy. But that may be it now with any luck it won't get there again and will continue upwards!

MrCro

£ all over shop now up 2.5 cents one day down the next then up again????

Into the 1.80's again today - soon be hitting that 1.93????

Alfresco

Kapla

MrCro

£ nose diving against A$ again tonight because Aussie unemployment improving way more than expected! added over 50k jobs when 15k expected!

So bad news on sending your pounds but............

Good news you can get a job and earn $'s until rate is better and then bring your £'s to OZ! and send any spare $'s to £'s in the mean time!

That's my plan anyway!!!

freebo

My plan too, but doesn't this mean you'll pay Australian income tax on the gain from the improved exchange rate (if there is any)

Centurion

Add into that mix the news that the UK had indicated it wants to continue quantitative easing.

http://www.telegraph.co.uk/finance/e...-not-over.html

freebo

My worry is the weakness of the pound, rather than the strength of the dollar

Alfresco

Me too! Not looking good for the short term.

freebo

I'm wondering if its realistic to try hedgeing against negative currency movements, the worry is actually that GBP/AUD could go quite a bit lower from here. Do any of the money changers offer a hedgeing service?

Alfresco

I have no idea.

I've never needed to move loads of ca$h around before, mainly cause I didn't have any.