andie

am i correct in thinking the exchange rate is 2.5. i need advice please. shall i change my money to oz dollars now, or do you think there is hope that it might go up. we are going in 6 weeks.

PADDAD

As far as I can tell from checking out rates today, it currently stands at $2.57 to the £1.

I discovered an exchange rate forecaster site that reckons the dollar will rise to $2.60 in June and then decline again in the months following, however its anyone's guess but I shall be watching it closely.

bored_bean

Try http://xe.com they'll email you daily with the latest rates
http://www.fxhistory.com will give you historical exchange rates

PADDAD

Great sites Bored_Bean (oops nearly said broad bean).

It seems that the exchange rate is now $2.58.

Judging by the history forecast it doesn't look like the dollar will drop very much. These are very uncertain times so I suppose anything is possible.

bored_bean

I made a nice excel graph that showed over the last 2 years the dollar has ranged from 2.40 to 3.00. It averages 2.70 so I guess if it's above that you're on a winner. You never know though which way it will move.

garrisondamn

Can you give me the link for the site please.
Thanks.

bored_bean

Just knocked one up that showed;
Number of days where GBP-AUD was greater than
2.4 2.5 2.6 2.7 2.8 2.9 3
1202 1181 979 704 306 46 5

out of a total of 1202 days since 1 Jan 2000.

I've attached it. You should be able to get an excel viewer for free. There's a graph on a separate page.

jambo_g

Three days ago it was 2.61, now it's 2.57 aaaaaagh!!!

It's doing me nut in likes!!!

Come on baby bounce back up to 2.61 in the next fortnight!!

Graham

Tez

Blimey peeps, whats happening to the bouncing dollar
everytime it goes down a cent i lose thousands of pounds
When will it bounce back upArggggggggh

PADDAD

Hiya Alan

I looked at quite a few but I think it was this one.

http://www.x-rates.com/cgi-bin/hlookup.cgi

PADDAD

At last I found it!

Hi Alan and anyone else who's interested

The forecaster site is the one below and not the one mentioned in my previous reply.


http://www.neatideas.com/pound.htm

Good luck

kevmitch

Bored Bean

Thanks for that. From my untrained eye I would suspect we're due a further reduction in the £. Everytime there has been a significant 'double dip' (as has happened over the last month), the prevailing trend has been downwards.

I would suspect the current trend will see the exchange rate hit 2.5 for a while, before any significant climb back.

Also, I read yesterday that the Aussie economy is continuing to grow strongly and inflation is rising, so any change in its interest rate is likely to be upwards, whilst those in the UK may well fall - further strengthening the Aussie $ on FX markets

Equally, if the £ is heading towards the Euro, the 'ideal' exchange rate will see a devaluation of the £ by a further 10%

Still, we all live in hope!!


Kev

captaincook

I have to agree - the commodity currencies are in favour because of the high interest rate yields and good growth. One other thing that appears to be happening is the Kiwi is topping out and the Aussie is benefiting as there does'nt look like much chance at all now that interest rates will get cut here given the growth, drought easing, strong housing market etc etc I would say Oz will be Ok for another 6 months but once the higher aussie starts to be felt and drop exports then things will slow probably next year. I think though we could see aussie move well below 2.50 in the next few months. Just my opinion.

bored_bean

Dollar predicted to rise further http://www.thecouriermail.news.com.a...5E1702,00.html
Have we missed all the highs of £1=$3?

PADDAD

I receive the currency update everyday and it does look like the dollar is rising again. It went down to $2.53 a couple of days ago and is $2.57 today!

We're lodging our funds next week so everything is crossed until then.

Cheers