Currency Exchange
#1
Forum Regular
Thread Starter
Joined: Jan 2010
Location: Egypt
Posts: 30
Currency Exchange
Hey all
Has anybody got clues/advice (professional or otherwise) on when the Ozzy Dollar will weaken? In Oct 2008 One Pound bought $2.50 now its around $1.75& certainly puts on old a decision to transfer funds from UK. I am looking to buy a house either Syd or Adelaide this year as indications are property is on the rise in the city suburbs but i may need to borrow further as i do not want to transfer at a ridiculously low rate.
Has anybody got clues/advice (professional or otherwise) on when the Ozzy Dollar will weaken? In Oct 2008 One Pound bought $2.50 now its around $1.75& certainly puts on old a decision to transfer funds from UK. I am looking to buy a house either Syd or Adelaide this year as indications are property is on the rise in the city suburbs but i may need to borrow further as i do not want to transfer at a ridiculously low rate.
#2
BE Enthusiast
Joined: Sep 2008
Location: newbury
Posts: 943
Re: Currency Exchange
Hey all
Has anybody got clues/advice (professional or otherwise) on when the Ozzy Dollar will weaken? In Oct 2008 One Pound bought $2.50 now its around $1.75& certainly puts on old a decision to transfer funds from UK. I am looking to buy a house either Syd or Adelaide this year as indications are property is on the rise in the city suburbs but i may need to borrow further as i do not want to transfer at a ridiculously low rate.
Has anybody got clues/advice (professional or otherwise) on when the Ozzy Dollar will weaken? In Oct 2008 One Pound bought $2.50 now its around $1.75& certainly puts on old a decision to transfer funds from UK. I am looking to buy a house either Syd or Adelaide this year as indications are property is on the rise in the city suburbs but i may need to borrow further as i do not want to transfer at a ridiculously low rate.
#3
Banned
Joined: Dec 2009
Posts: 18
Re: Currency Exchange
Hey Don,
I hope you are well. Erm... im not really that clued up on the markets. But i do have a currency broker whom updates me... so if you like, i could PM you his details, and he may be able to offer you his views. Just let me know
I hope you are well. Erm... im not really that clued up on the markets. But i do have a currency broker whom updates me... so if you like, i could PM you his details, and he may be able to offer you his views. Just let me know
#4
BE Enthusiast
Joined: Jun 2008
Posts: 730
Re: Currency Exchange
Ozforex, HiFX etc all have good reports on here by people who have moved money with them but be wary of who you deal with other than those with good reports on here by several people (brokers have been known to set up as members on here to promote themselves - moderators soon boot em off tho!)
I have a big thread on the exchange rate which I started when rate slipped to 1.93.
Nobody really knows where it will go otherwise they'd be millionaires and not working as brokers to advise other people on market moves!!!!
But £ has taken a big hit and is well oversold! Time will tell but there should be some recovery. It's likely to happen if and when the US$ recovers against the Aussie.
Last edited by MrCro; Jan 11th 2010 at 2:11 pm. Reason: typos
#5
Re: Currency Exchange
4 weeks after the UK election, when the emergency budget cuts spending dramatically and raises taxes. Bonus points if Eddie George is sacked and the BoE starts talking about raising the interest rates to more normal levels.
At least that's what I'm betting on.
At least that's what I'm betting on.