Lordflasheart

Hi Everyone,

anyone have a hot tip on what the exchange rates are going to do?

I thought the recent interest rate hike might make the pound a bit weaker, but so far nothing.

Got a wedge waiting to go via HiFX. I wish it had been ready to go on the 22nd May!



Dave.

touchingcloth

Change now and never look at fx rates again.

Saying I been lookingat fx rates since I exchanged.

We did a forward contract on Wednesday morning for our whole life savings and got $2.5025. It didn't go above that and by Wednesay afternoon it was around $2.48!


Serously...you'd be more pissed off if u didn't exchange and it fell than if you'd exchanged and it went up.

$2.47 is a pretty good rate.

TC

Huggy Bear

Good post - I'd certainly agree with this.

Grayling

If you are exchanging to dollars you want a strong pound....that way you will get more dollars.

Interest rate rises should strengthen the pound.

G

touchingcloth

Thank you Squire.

Lordflasheart

Thanks TouchingCloth,

Going to take your advice and just do it. I know I'll be watching over the next few weeks though - wondering if I've done the right thing.

Lordflasheart

Yeah, thanks G - got my Dollars and pounds the wrong way round. The interest hike didn't help much and with the subsquent terrorist plot....

Hmmm. Gonna bite the bullet on Monday and transfer the lot.

Thanks for your input, bloke.


Dave.

steve`o

Great British Pound: The terror alert in the UK caused a sharp sell off in the Pound Sterling overnight from 1.9050 to a low of 1.8870. Until last night the GBP/USD was well on the way towards 2 but has been set back by the events with trading likely to be confined between 1.8830 and 1.9030 for a while longer. On the cross rate against the AUD the GBP traded lower for the second consecutive overnight session to exchange near 2.4600. With the Aussie likely to remain well supported today we expect further downside on the GBP/AUD.

- We expect a range today in the GBP/AUD rate of 2.4580 to 2.4680.


taken from osforex site

you may be best waiting if you can mate

touchingcloth

i'd been following these for a while...and can't say its a crystal ball.

There's too many influences (as we saw yesterday) to take into account.

The reason we exchanged whenwe did was because if I didn't there was some risk (however small) of GBP weakening greatly, and ruining our Aussie dream.

I reckon a stop loss may be a good hedge. Possibly set it as low as $2.45?

TC

steve`o

2.45 is still a good rate
if you check out the fast charts ( set on one year )
you will see that the dollar has traded around 2.35 for most of the past year ( on the majority )

steve`o

link
http://www.ozforex.com.au/cgi-bin/chartsFast.asp

touchingcloth

exactly..which is why a stop loss wouldn't be a bad idea at all