Jamesy

Ohh whats happened to the rates today www.oanda.com they are down to 2.42? Anyone know why?

markeh

Hiya Jamesy,

it was 2.44 yesterday!
Wait a couple of day's and see what it is then.

It's still better than the 2.2ish it was last year.

Bye
Mark

Jamesy

Went up to 2.49 on Wednesday, i shouldve pounced then! Where is that crystal ball?

markeh

Jamesy,
you'll just have to wait a while.

(2.49, not a bad exchange rate!)

Bye
Mark

wmoore

According to Yahoo! Finance it's been creeping up for a couple of months. If you can hang on, I would reckon it should go up a bit more. If you look over the last few years, it seems that 2.60 is about the average.

Not that I'm any kind of financial advisor or anything, just my humble opinion.

Gravyman

I keep looking most days since Jan and the highest I've seen is $2.48. The average seems to be $2.44.

Although 4 cents when you're exchanging thousands does make a difference.

Gravyman

ianj

I have just bought £50K with HIFX @2.45. Well I say just, on Wednesday it was when the rate hit 2.4668. I didn't have to do anything as I spoke to Halewood to see what they thought the market may do.

Then I just said if it hits 2.45 then buy for me. I didn't have to keep watching the rate then. Lo and behold it hit my target and they did the rest. I am now the 'proud' owner of A$122,500. All I got to do now is sell the house, pay for it, do a spot rate on whatever I have left at the time of going and head off into the wide blue yonder.

Well probably the slightly chilly winter of Melbourne. Still, cannot be as bad the UK winters.

maxpaxx

It's up around high 2.44's now.

Bear in mind they are tipped to raise interest rates at the April meeting and that that could mean a stronger dollar against the £. They are still talking about 2.2 rates for this year.

I hope you get a good rate - it's a difficult decision!

Max

ianj

having read a post from OzTennis (I think) the news is that interest rates may now not rise due to unemployment figures.

Search the forum for an article regarding to it. I think it was in the last week so not long ago. At the end of the day you have got to go with a gut feeling on currency. nobody knows whats going to happen (even the brokers, if they did they would all be millionaires).

Nobody knows what is going to happen in the world (nobody is safe from terrorism) and if they strike it can send shockwaves thru the financial markets as well as the normal world. Basically its a case of bigga balls you've got. If they're the size of beach balls then hang in there and see what gives. At the moment the currency is at a 6 month high, if you can afford to lose a bit then cool, if you cannot then bite the bullet.

Its never easy but just got to go with the gut feeling. I am glad I got 2.45 this week and if it goes higher, oh well, cest la vie. If it goes lower (which I think it may) then yippee. Your timescales has a lot to do with the decision as well.

Good luck one and all

Don

That's the way I see it.

Plus you can always hedge your bets and buy half now, half later - best of both worlds, maybe. At least it means you have got a decent average of the rates now and then.

ianj

Wise words Mr Pleasance,

That is exactly what I have done. Well apart from the fact I got a bit carried away and decided to do most of my equity. I will just do a 'Spot' on £10K and thats me.

Being a singly, I am sure that will sort me out with more than a few VB's.