Urno

:curse:

Keeping an eye on the rates has given me more residual stress than i care for!

My $100k investment is now costing me about £2k more. SOB!

Does anyone happen to work in the world of finance and have an explanation for why the rates dropped so sharply and have any insider tips on whether it'll recover or not?

What i'm really after is an exact date and time when it should reach 2.52 again. Not much to ask...ta muchly

cartel

I wish knew. Hoping for visa grant imminently and will not transfer it all at the current rate (crikey - all sound a lot doesn't it?)

Carol

datamile

If everyone knew when it was going to recover, then they would pile into it, further weaking it.

Have read...

http://en.wikipedia.org/wiki/Exchange_rates

Centurion

Look on the bright side - when your in our shoes then you'll be very pleased when the dollars strong and the pound takes a dive.

devilishdean

Hi,
Is there anywhere where you can actually track the exchange rate over the past few months so you can build up a picure of any trends etc.
Thanks

Urno

A fair point!

I know rate watching is probably a bad idea, but i'm still gutted that it dived so close to me needing to change a large sum.

Anyway, quid pro quo. Status quo. No, che sera sera. That's the one

InBetween

Its the $US mate, why is the world so dependent on their Economy - huh !! - Get the $US dollar back to where it was, i.e Stronger than it is now, and that will have a knock affect to the $AUD
Here is the comparison for 6mths (source from www.xe.com)

Oct 06
£1 bought US$1.88
£1 bought A$2.53

Apr 07
£1 buys US$1.97
£1 buys A$2.42

So those few cents or pence make a huge difference - personally , I dont see it improving for sometime, in fact I see it getting worse - the US economy is on a downward spiral, for how long is anyone's guess.
If you see it hit over the 2.45 mark anytime soon let me know....

datamile

Live graphs.. change to gbp/aud and pick your time period

http://www.moneycorp.com/chart/charts_pop.html

marco121068

This isn't bad.
http://newsvote.bbc.co.uk/1/shared/f...elve_month.stm

Here's today's info from OzForex.
Great Britain Pound: Sterling continued its run overnight, and at one stage broke through 1.98 to post an overnight high of 1.9823. While most analysts expect the Bank of England to raise rates in their May meeting, the central bank’s penchant for shock hikes has led some speculators to gamble on an April rise. The overnight strength in the quid has helped it on the crosses as it recovered recent losses against the Australian dollar to open at 2.4276 and the New Zealand dollar with GBP/NZD changing hands this morning at 2.7421. This morning’s interest rate announcement from the RBA leaves the GBP/AUD cross open to significant movement.

- We expect a range today in the GBP/AUD rate of 2.4225 to 2.4325

devilishdean

I am going to be watching these exchange rates very closely over the next few weeks as I dont really want to be leaving my money in the UK.
Thanks alot for the info.
Andy

glittababe

ahh get over it - when we exchanged it was a wee 2.3 something!

InBetween

Come on - lets see some predictions , marco121068 is expecting 2.42-2.43 - but Im laying odds on for 2.39-2.40 for 1st days trading out of Easter Holidays ! (..sorry Urno , its not that my glass is half full, I just dont see a 2.50 recovery just yet.)

datamile

Might get a jump tomorrow if uk rates go up... just like the 2c one for a few hours last night when the oz ones didn't

Urno

So would i be right in thinking that if you're smart, you can put your sterling into one of these "forex" accounts and exchange it when it spikes? A 2c rise sounds significant to me...

Bloody Sri Lankans have just beaten us a i write Roll on another spanking from the Aussies...

datamile

Perhaps. The ozforex is direct deal quoting, you take the price they are offering at that moment, they call you back in 5 mins to confirm the deal, and then generally give you 3 days to get the money in... The jump was about 1.25 c, and held for 1hr, before droping back about .25 c for another 3 hrs.. but now its been all down hill.