Brisben

The time is drawing nearer to trade my money to AUD, I am watching rates closely, hoping they move up , but could move down,. I am unsure when to trade, although leaving it till the last minute gives me little choice but to accept the current exchange rate.

Were any of you in this position and how did you overcome it ?

CadburysFingers

Nothing you can do really just hope Aus interest rates go up on Jun 6th, if they do....or look as if they will, there will be a 3 or 4 cent swing in your favour (usually around this sort of figure) If the noises coming out of the Aus financial people are to stay unchanges then you are only looking at 2.4.

mazza

I can't help re advice, we're in the same boat, watching the fluctuations daily hoping for an improved rate. We'd hoped that the latest UK interest rate rise would have had a bigger impact but without being an expert, it's difficult to understand all the factors that might influence both currencies.
I would have thought that the expected further interest rate rise in the Uk should improve the position ....does anyone else have any views???

Bix

I was talking to a guy the other day who only got 2.20 when he transferred.

Satisfaction is within oneself Ben.

What might have been is irrelevant.

Brisben

Bix I think your 100% Correct. I might just bite the bullet and exchange at least I won't have lost anything, although I suppose it is the thought of the potential gain that could be made, although that could equally be a potential loss.

Thanks good advice.

Wendy&Mike

Change half now and then the other half in a months time. Your second half will be either better or worse. Think about that and you realise that the best thing to do is just change it now. People are payed absolute fortunes to predict which way it will go.

If the BOE is expected to raise interest rates next month then everyone knows that and the price moved when it was suggested by analysts (did you notice the first four letters of that word!!).

If you really want to try and second guess the market then I would suggest reading "Technical Analysis of the Financial Markets" by John Murphy.

Mike.
BTW, once you change it do not look at the exchange rate. It will always be better unless you wait.

P.S. we got 2.64 about 4 years ago.

Brisben

Your right my broker even suggested this.

I just bit the bullet at 2.385....it could have been better, but also could have been much worse.

I am content with 2.385.

UK2Perth

We finally decided to got for it today! We got 2.39.

Might have been better in a few months time but who knows?

Hayley

jayr

I remember getting 2.80+ some years ago.

I wouldn't bother speculating, there are largenumbers of highly paid people employed at banks etc. who are 'experts' in currency trading, you cannot beat them as they are much better informed.

Look at forward exhange rates (which is where currecny traders believe exchange rates will be) and lock one in. It is entirley luck whther you do "well' or not, unless you consider yourslef to be Warren Buffet.

Tambo

hey funny reading this i got 2.91 in july 03 but i booked this rate 12mths earlier.

Tambo

KatieStar

My dad was hoping for a rise before he exchanged. He felt he had to bite the bullet and go for it. He was lucky to get 2.4 when he changed the money 2 days ago.

Brisben

The rate seems to be rising today...

CathnPaul

yep - the ozforex is showing as expecting a range today in the GBP/AUD rate of 2.4075 to 2.4175 - yesterday it was 2.39 and 2.40

we are also starting to watch with apprehension for the right time to shift money over. think would hang back even at the 2.41 rate

Brisben

Good luck with it, Although I do feel better I have got it out of the way and it is all done !!!

CathnPaul

Can imagine - there used to be someone on expats who had a spreadsheet which showed the trends over past years, but i cant find the thread that would help.