You are legally bound to that thought arent you? I mean, we havent exchanged yet and if I am legally bound into a forward rate deal, then i am a bit screwed if the buyer pulls out as I wont have the money!

Oh do we change some now .. What will have when New York stock market opens at 9.30 their time ( 11.30pm Brissy )

GBP is holding against USD, so AUD down 4% against both. NZD is doing worse.

Yes, your liable. But you can set a date up to 2 years I think?

I have told OzFirex to alert me when the rate is 2.6 and I'll change 15k to buy a nice new Hyundai Santa Fe;-)

Mark

2 years!!!! Thats great
Im gonna be awake all night checking the excahnage rate. It all could change tomorrow when news is released from USA's biggest mortgage lender.

any ways mopre positive thinking .....

UP UP UP UP UP UP UP.......... Would be amazinglyfantasticsuperduper to hit 2.6 to the pound (fingers crossed) HIGHER HIGHER HIGHER

hmmm.. 5% is certainly not too much.. but I just wish we had exchange, then I wouldn't hesitate.

Ohh decisions decisions.

Hi Mick, we're just near St Albans - where's the meet? Not been to one before.

yep, barclays rubbish, just called out of interest. HIFX sounded good, just spoke to them, could offer 2.504 on 2.51 rate. Only just started looking to exchanging and getting excited - can't stop looking at the updated rates need to calm down and not rush in.....but don't want to miss out!!! 2.6 please....UP UP UP UP UP (am sure this works!)

Does anybody know, if you buy a forward rate (say 2 years as discussed), do you have to wait the 2 years to settle or can you settle as soon as you have the funds?

I spoke to a guy in Ozforex and he says you can take it early but they would re-adjust the rate you locked. Didn't say by how much, but it's worth giving them a call.

Hi mate

We are in Chiswell Green, could be neighbours, meet is on 16th Spet at Moor Mill, just down the road, you can bike it like we did last time, although took much longer to get home

Cheers

Mick

From FT.com

"The New Zealand dollar tumbled 5.2 per cent to Y78.20 against the yen and 4.1 per cent to $0.6789 against the dollar, while the high-yielding Australian dollar was also hit, dropping 3.9 per cent to Y91.52 against the yen and 3.7 per cent to $0.7883 against the dollar.

“The New Zealand dollar and Australian dollar are in free-fall. With key technical levels set to brake against the dollar and the yen, heavy further declines are highly likely,” said David Simmonds, head of FX strategy at RBS."

2.6, 2.6, 2.6...................

Pete

1,000.00 British Pounds = 2,530.24 Australian Dollars

Australian home loan firm RAMS saw its shares sink 36% after it said it had failed to refinance 6.17bn Australian dollars ($5bn; £2.5bn) in debt after the credit crunch spurred by the crisis in the US housing market.

Small world! We're actually in Flamstead but its so much easier to say St Albans! Meet sounds good - will speak to Ian and see if we're about. So how do these things work? Are there lots of people going? Is it just drinks? Just notice our names aren't on signature - I'm Catherine!

On the exchange front:

Does anyone know if OzForex can help you set up a bank account? HIFX say they are teamed up with Westpac so can get an account set up. Also, if I'm here and my money's in Aus, do you have to pay tax on it or anything?

$2.52... I'm considering sending some money over now.

I am so p****d off.

I have been holding off for weeks to buy, watching the rate creep up to 2.38, I then decided I better put a stop rate in of 2.36 just encase it droppede again, guess what, as soon as I put the stop rate in it dropped to below 2.35 so my contract was closed. At the time I thought well the rate is dropping so I have been lucky, but look at it now, over 2.5 again. If I had waited until now to exchange I would be $20,000 better off.

But if anyone can predict rates they would be billionaires.

I will just have to stop looking at the rates so I won't be sick any more.

Bobby