brendan_34_mids

hi ,
anyone know who is offering the best exchange rates at the moment?
i wont hold my breath for anything too exciting.

cheers,

brendan.

crashbandicoot

hold tight, there's a storm brewing! All 'agents' offer the same - the price is the same - the price is dictated by the world markets and the markets agree- hold tight as you'll find that when the AMERICAN DOLLAR GAINS STRENGTH THEN THE oZ DOLLAR WILL WEAKEN. You can fish around now for a better rate but you'll be wasting your time - hold fast - it'll hit 2.5 very soon and when it does grab it !

brendan_34_mids

thats good news any idea the timeframe,

brendan

ABCDiamond

If the US Dollars strengthens, then in all likelyhood the OZ $ and the UK £ will both weaken at the same time, and maybe by the same amount, therefore not affecting the UK£/AUS$ rate.

It needs something that affects only one of these rates to make the rate change you require.

If anyone really knows what will happen they can a make a fortune

Slater

It is my understanding that the £ is somehow linked to the yankee $, so if the US$ gets stronger against the A$ so will the £. Don't hold your breath I can't see much change for a few months at least. Having said that it will probably change next week just to prove me wrong.


Slater

JohnAndNetta

Wish I could be optimistic. But whilst metal prices keep going up and up I keep watching the Oz dollar getting stronger and stronger. If you read all the so called 'experts' opinions it would seem we're going to lose quite a bit more before any sign of recovery. Wish we'd bought a forward contract at 2.6 (or more) but we haven't got our visas yet.

Absolutely gutted! (but ever hopeful)

Netta

ABCDiamond

Your post got me wondering, so I checked what happened when a change happened before, and the rates for two dates were:
14.05.2004
GBP to USD 1.7633
AUD to USD 0.6889
AUD to GBP 0.3909

15.07.2004
GBP to USD 1.8565 = 105.3% = change on GBP to USD
AUD to USD 0.7246 = 105.2% = similar change on AUD to USD
AUD to GBP 0.3904 = 99.9% = but no real change on AUD to GBP

and the same on another two dates:
07.10.2004
GBP to USD 1.7767
AUD to USD 0.7242
AUD to GBP 0.4078

08.11.2004
GBP to USD 1.855 = 104.4%
AUD to USD 0.7639 = 105.5%
AUD to GBP 0.4119 = 101.0%

Not sure what it really means, but the GBP/AUD doesn't seem to change much when a change happens with the USD to GBP.

steveyp

Totally agree, what it needs is either good news from the UK or bad news from Australia. You need to look at the factors that made the AUD rise against sterling from Jan 2004 to its peak in June 2004.
Interest rates were rising in the UK during that time and now that is unlikely to repeat. So you need something like a fall in either Australian interest rates or a fall in commodity prices to move it back. The market seems to move on sentiment and rumour and it is a hard one to call, lots of factors include unemployment levels and trade decifits.
Personally if the AUD hits US 0.80 then I think it will peak there and fall off when everybody takes profit.