scoobydooathome

Does anyone know why the rate has become less favourable over the last 5 days, as it was $2.84 a pound now it's $2.75, (5 days later) what is going on, will it go up again, at a guess ...

Comments please,

Thanks.

Matt & Jo

Hi,

Wish I knew too.. It could have something to do with Iraq, and us along with the USA sending troops out to bomb them!!

This in theory could be weakening the £.

We have our money, waiting to change it into $ but not sure what to do, will it go up? or will it go down? Over new year it was a great rate but as soon as we got our money it all went pear shaped, so we are going to hold it in sterlng until it starts going up, hopefully to $3 to the £ (in my dreams)

Love Jo xxx

guyguy2003

You know... when you'll be in Australia you will want the $ to get stronger.. and this is how it is with those things - sometimes its up sometimes its down sometimes in your favour sometimes its not. very little people can predict what will happen tommorow so just buy the $A when you need them.

hollywood110

Hi Jo

If we had the money from our house now, I think we would change it up as the last time the rate dropped this much it went down to $2.50 and We came to a decision that anything above $2.70 was alot for our money.

Its so hard but We have done calculations and the change in the rate over the last week has cost us the price of a car!!

Hope the rate goes up soon for You if you are waiting,if not change it and never look at the exchange rate again!!!

Wish I was psychic

Love Sharon x

Wendy&Mike

Have a look at

http://www.exchangerate.com/cgi-imag...238&country=15

As you can see the 2.75 level has been support for the last 6 months.

If I had to give the pattern that has developed over the last 6 months a name then I would call it a a decending triangle. Try doing a search for decending triangle and chart on google.


Mike.

Wendy&Mike

P.S. It could also be thought of as a bullish wedge. Again - try a search.

I hope it's the later.

pommiesheila

The exchange rate has fluctuated in the last few years from a low of 1.9 to around 3 $ to the £ - see sites such as moneycorp.co.uk and click on "Instruments" GBP/AUD, or try oanda.com and go to "FX History" - also Forex.com has some useful info.

I`m afraid I`ve become a bit obsessed with the exchange rate, and am now kicking myself for panicking when it dropped last year, as we could have probably bought another 3 cars if we`d waited a few months!!!

Herman

The exchange rate is driven by commodity prices here, since they constitute the main exports, and recently good gold prices have had an impact. The flight to gold has been driven by market fear of equities due to recent performance and the threat of war.
I can tell you that more commentators here are predicting the dollar to strengthen further as coal, gold and copper prices, which have been subdued in the last 18 months, are expected to recover. That does'nt mean they are right of course, but thats the way the market is leaning - towards the Aussie dollar strengthening.

shellypuss

I admit I dont have a clue about money issues but when we contacted the money exchange people over Christmas they told us that the exchange rate would probably go down as oil becomes more expensive per barrell.

Don't know if this is true though.

I equate money to how much chocolate it will buy me

Shelly

scoobydooathome

When you say EXCHANGE RATE down are talking in relation to a G.P. pound getting less oz dollars,

not sure of your location,

cheers,

scoobydooathome

Hi Shelly Puss

Just seen your profile now I know what you're talking about, oop's,

Cheers,

sue5665

Hi,

We are off in March, what is happening to the $ going down, but how low will it go?
When do we change our £ ?

Help !!!!!!!!
Sue

plucka

The $ has actually been going up not down. (Aus$ has strenghtened against the £) If you were smart you would have transfered your money gradually over the last year or so to reduce the risk and get an "average" rate rather than wait to the last minute and transfer the lot at once. As to "how low will it go" its impossible to know. It could easily go below 2.5 but then it could be back to 2.9 next week.

Shikse

Oh oh, by looking at that chart, it's now broken the 2.75 support level - hopefully it'll bounce back up though!

shikse

Don

Hey!- you dwarves, Lilliputians, Borrowers and pygmies: please tell us what's going to happen tomorrow!

Don