Exchange rate

Old Jul 10th 2006, 6:04 am
  #1  
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Default Exchange rate

Has anyone got a cyrstal ball?

What is going to happen to the Aus dollar in the next month? We still haven't brought our money accross and we've seen the Aus dollar get stronger and stronger and that is not good for us.

So if there are any finance gurus out there we would value your opinion on what might happen in the coming month.

Thanks.
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Old Jul 10th 2006, 6:27 am
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Default Re: Exchange rate

Originally Posted by Luma
Has anyone got a cyrstal ball?

What is going to happen to the Aus dollar in the next month? We still haven't brought our money accross and we've seen the Aus dollar get stronger and stronger and that is not good for us.

So if there are any finance gurus out there we would value your opinion on what might happen in the coming month.

Thanks.
To be honest with you, I'd just get it over now. Stick it in a high interest account if you need to. Most pay daily interest.

I ummed and ahhed in Nov Dec 2004 when it was at 2.55/2.6 and got greedy wanting more and then it plummeted. I finally got 2.5 last month, a wait of nearly 18 months!!!!! What is it at the mo, 2.45. It could go up to 2.5 or better again, equally it could go down to 2.4 .....or worse....as it has! 2.26 a few months ago i remember.
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Old Jul 10th 2006, 8:08 am
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Default Re: Exchange rate

Just spoke to my broker.

She said the risk is greater on the downturn than the chance of it going back up again in the short term. Basically they see it going down to 2.4 - 2.38 before going back to the 2.5 levels. It may not she said, but she doesn't see it going back up short term due to the end of speculation over interest rates hikes etc.

I changed GBP40k at 2.41 ages ago, so todays rate is good value. Just hacked off I did not jump in at 2.51 a few weeks ago.

Next time it hits 2.5, I am going to trade. Hope it happens before November !
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Old Jul 10th 2006, 10:46 am
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Default Re: Exchange rate

Thanks for your replies. We went for 2.455 with Ozforex this afternoon.
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