tbeb

Look at it fall, just before I transfer my money across :-(

Currently $2.4074 to the pound.

TBEB

steveyp

Thank merv for his comments on house prices this week.
We are all done with interest rate rises now. Best you can hope for is a wobbly economy in Oz now although that is not a good start to a new life... swings and roundabouts.
I wont be changing my money up any time soon.

GillettFamily

OMG :scared:

You must have looked at the currencies website at the same time as me and was just about to open a thread but you got in first!!!

Wonder why there is such a plummet suddenly?????

We are not ready to exchange money yet but we want to sometime beginning of Dec. Hope it picks up soon - The majority of ours cant be exchanged till next year as we are waiting for the property market to pick up again althoughwe leave on 8/12.

I am going to keep everything crossed for it to start climbing again???!!!

steveyp

Don't wait for the property market to pick up in the new year, I honestly don't think it will. Everyone will be waiting for the 'new year' to get their houses on.

GillettFamily

Unfortunately we have to - if they are all going to put their houses on the market in the new year surely thats a good thing.

We have a buyer for ours - only one thing they havnt got one for theirs so we are keeping our fingers crossed that they will, and if not, then we will remarket in Spring (meanwhile we will be renting in Sydney)

Good Luck to everybody trying to sell their houses!!!

steveyp

All the best with that, one of the most stressful parts for us is the house selling. We had to buy the house at the bottom of the chain to get ours through. The sale completes tomorrow on the one we bought. Our house first went on the market in July 2003. Hang onto that buyer, they are thin on the ground at the moment.

jad n rich

Is the australian dollar getting so strong because of all the great figures coming out?

Like yesterday, record unemployment lows, down to 5.?% and with employment reforms (less rights) looking to go lower still. Australian economy seems very robust and getting stronger.

tbeb

Don't think so, probably 'cos of the strong Euro:

http://news.bbc.co.uk/1/hi/business/3999825.stm

TBEB

jad n rich

Just coming up on breaking news the www.theaustralian.com.au australias take on why the dollars so strong.


Great article there too on $1 speed, breaks the myth of drugs costing $200 in oz.

steveyp

News does not get any better with this statement
"We continue to target 80 US cents over the next three to six-months."

bondipom

High commodity prices are harming importing countries whilst Oz exports oil, steel etc which are in high demand.That means demand for Aussie dollars and a boost in tax revenues for the government. The higher AUD protects Oz from the current high oil price. All very good news for Oz in the short term.

Quinkana

12 October 2004

"MELBOURNE: China's hunger for iron ore and coking coal to feed its steel mills has triggered fears among other importers of a supply squeeze and higher prices in Australia, which accounts for around a third of world exports."

China demand to spark Australia coal price rises

And kill off local industries not attached to international trade.