Exchange rates Again!
Sep 16th 2003, 2:07 pm
#1
Sydneysider and lovin it!
Thread Starter
Joined: Nov 2002
Location: Sydney - Eastern Subs
Posts: 225
Exchange rates Again!
For all of you who are in the final stages of the process what are you doing about $$$$?
The exchange rate has slowly slipped below $2.4 which is depressing as I got $2.81 when we went on downunder in Jan! So what to do! Are you:
a)diving in now - after all what does it matter once you get to the land of milk and honey!
b)holding on to those £ for a while longer who knows!
c) S@d it keep the £ and lets review in 6 months!
Me? I'm between b & c!
Dinky
The exchange rate has slowly slipped below $2.4 which is depressing as I got $2.81 when we went on downunder in Jan! So what to do! Are you:
a)diving in now - after all what does it matter once you get to the land of milk and honey!
b)holding on to those £ for a while longer who knows!
c) S@d it keep the £ and lets review in 6 months!
Me? I'm between b & c!
Dinky
Sep 16th 2003, 2:37 pm
#2
BE Enthusiast
Joined: Dec 2002
Location: Melbourne
Posts: 805
Re: Exchange rates Again!
Hi Dinky
We went for a)
Exchanged on Thursday at 2.39 but this was our savings only (£10,000).
We haven't sold the house yet (well we haven't even put it on the market yet!!) but as I'm off to Oz tomorrow, I need some cash in the bank to cover any bills etc until I start working again.
I'm hoping that the rate improves by the time that the house is sold, but we'll just have to take our chances.
Regards
We went for a)
Exchanged on Thursday at 2.39 but this was our savings only (£10,000).
We haven't sold the house yet (well we haven't even put it on the market yet!!) but as I'm off to Oz tomorrow, I need some cash in the bank to cover any bills etc until I start working again.
I'm hoping that the rate improves by the time that the house is sold, but we'll just have to take our chances.
Regards
Sep 16th 2003, 2:58 pm
#3
Born to be ignored
Joined: Sep 2003
Location: Anstead, Brisbane
Posts: 1,138
Re: Exchange rates Again!
Originally posted by Dinky
For all of you who are in the final stages of the process what are you doing about $$$$?
The exchange rate has slowly slipped below $2.4 which is depressing as I got $2.81 when we went on downunder in Jan! So what to do! Are you:
a)diving in now - after all what does it matter once you get to the land of milk and honey!
b)holding on to those £ for a while longer who knows!
c) S@d it keep the £ and lets review in 6 months!
Me? I'm between b & c!
Dinky
For all of you who are in the final stages of the process what are you doing about $$$$?
The exchange rate has slowly slipped below $2.4 which is depressing as I got $2.81 when we went on downunder in Jan! So what to do! Are you:
a)diving in now - after all what does it matter once you get to the land of milk and honey!
b)holding on to those £ for a while longer who knows!
c) S@d it keep the £ and lets review in 6 months!
Me? I'm between b & c!
Dinky
Sep 16th 2003, 3:01 pm
#4
High in the Dandenongs
Joined: Apr 2003
Location: Listening to Puffing Billy
Posts: 9,183
we're gonna take the money and run!
Sep 16th 2003, 3:09 pm
#5
Forum Regular
Joined: Feb 2003
Location: Victoria, Australia
Posts: 59
We am going to hang on to the £ for a while longer. If it comes to the crunch, and we have to go to Oz before the exchange rate improves, we may have to change a small amount (enough to buy a car with!!) at the lower rate and then change the rest when the rate is better.
Sep 16th 2003, 5:32 pm
#6
Forum Regular
Joined: Aug 2002
Location: East Grinstead
Posts: 279
In the process of placing $100k bond and purchasing A$, I am using Halewood, they are very helpful but their analysts a trend of the A$ strengthening through to at least the end of this year which is bad news for all of us! Worth bearing in mind, may well be worth purchasing some A$ at the current rates in anticipation of this!
Nicki
Nicki
Sep 16th 2003, 5:44 pm
#7
Forum Regular
Joined: Aug 2003
Location: Bournemouth > Bribie Island, Queensland>Brisbane
Posts: 234
We are just in the process of selling our place but intend to change up only about £10k for start up costs. We will hold off buying anything over there for at least a year or so to give the A$ a chance to weaken.
Oct 16th 2003, 11:27 am
#8
Just Joined
Joined: Oct 2003
Location: Watford UK
Posts: 7
We are hoping that the £ at least maintains it's strength for the next 4 to 6 months so we are holding on a bit longer before exchanging. Hopefully the Bank of England with let interest rates rise a little over the coming months, (and the Aust Reserve Bank doesn't do likewise)
Oct 16th 2003, 11:47 am
#9
Guest
Posts: n/a
We brought it all over the other week as we're buying a house and didn't want to delay that.
House prices are rising so much here we felt that if we didn't get in the market now it would cost us a lot more in the long run; what with having to rent, the rise in house prices and the potential of still not getting a good rate.
For example in the area we wanted to buy they had gone up over 25% in 12 months so there was no way we could make up $100K on the exchange rate moving.
We brought it over the day it dropped quite drastically before going up again. In the space of a few days we lost over $3,000 which is about a months salary!
House prices are rising so much here we felt that if we didn't get in the market now it would cost us a lot more in the long run; what with having to rent, the rise in house prices and the potential of still not getting a good rate.
For example in the area we wanted to buy they had gone up over 25% in 12 months so there was no way we could make up $100K on the exchange rate moving.
We brought it over the day it dropped quite drastically before going up again. In the space of a few days we lost over $3,000 which is about a months salary!
Last edited by owieb; Oct 16th 2003 at 11:52 am.
Oct 16th 2003, 11:54 am
#10
Forum Regular
Joined: Sep 2003
Posts: 215
Been doing loads of research on this one and from what I can see if you have not done it already its not looking good.
From what I have read I learn that the US$ dictates all in the ccy market. Expert admit its not so much that A$ is doing anything right - its just growing on the back of the US$ slide. Right now the Bush admin although up front are not admiting to letting the $ slide are not doing too much about what is going on right now. The £ on its own is not strong enough to hold back on this trend.
At the mo the A$ is sitting at 0.65 (Q3 2003) the latest prediction I read put this at 0.755 by this time next year. (www.bbh.com)
Over a 10 year ave the level we are at now is exactly average - which means over 10 years the A$ has been a lot stronger - guess that can happen again.
The A$ is also closly aligned to the Jap Yen, right now the Jap government are propping up their currency, but despite a recent increase in the ccy they have available to to this they are fast running out - also the markets are not really responding too much to these interventions any more. There have been recent calls by the G7 to prevent this kind of intervention - if the calls are acted on could ultimately lead to an even stronger A$.
Taking this into account I feel I am not really likely to gain by holding on - but could make an even bigger hit than I already have. I don't like it but I'm going to exchange. If I stick this money into a bank account in Oz I'm going to get a higher interest rate than I would in the UK so hope to make some back this way......or I could be talking complete drivvle and be eating my words in 6 months time!
From what I have read I learn that the US$ dictates all in the ccy market. Expert admit its not so much that A$ is doing anything right - its just growing on the back of the US$ slide. Right now the Bush admin although up front are not admiting to letting the $ slide are not doing too much about what is going on right now. The £ on its own is not strong enough to hold back on this trend.
At the mo the A$ is sitting at 0.65 (Q3 2003) the latest prediction I read put this at 0.755 by this time next year. (www.bbh.com)
Over a 10 year ave the level we are at now is exactly average - which means over 10 years the A$ has been a lot stronger - guess that can happen again.
The A$ is also closly aligned to the Jap Yen, right now the Jap government are propping up their currency, but despite a recent increase in the ccy they have available to to this they are fast running out - also the markets are not really responding too much to these interventions any more. There have been recent calls by the G7 to prevent this kind of intervention - if the calls are acted on could ultimately lead to an even stronger A$.
Taking this into account I feel I am not really likely to gain by holding on - but could make an even bigger hit than I already have. I don't like it but I'm going to exchange. If I stick this money into a bank account in Oz I'm going to get a higher interest rate than I would in the UK so hope to make some back this way......or I could be talking complete drivvle and be eating my words in 6 months time!
Oct 16th 2003, 12:17 pm
#11
Guest
Posts: n/a
Originally posted by louH
Been doing loads of research on this one and from what I can see if you have not done it already its not looking good.
From what I have read I learn that the US$ dictates all in the ccy market. Expert admit its not so much that A$ is doing anything right - its just growing on the back of the US$ slide. Right now the Bush admin although up front are not admiting to letting the $ slide are not doing too much about what is going on right now. The £ on its own is not strong enough to hold back on this trend.
At the mo the A$ is sitting at 0.65 (Q3 2003) the latest prediction I read put this at 0.755 by this time next year. (www.bbh.com)
Over a 10 year ave the level we are at now is exactly average - which means over 10 years the A$ has been a lot stronger - guess that can happen again.
The A$ is also closly aligned to the Jap Yen, right now the Jap government are propping up their currency, but despite a recent increase in the ccy they have available to to this they are fast running out - also the markets are not really responding too much to these interventions any more. There have been recent calls by the G7 to prevent this kind of intervention - if the calls are acted on could ultimately lead to an even stronger A$.
Taking this into account I feel I am not really likely to gain by holding on - but could make an even bigger hit than I already have. I don't like it but I'm going to exchange. If I stick this money into a bank account in Oz I'm going to get a higher interest rate than I would in the UK so hope to make some back this way......or I could be talking complete drivvle and be eating my words in 6 months time!
Been doing loads of research on this one and from what I can see if you have not done it already its not looking good.
From what I have read I learn that the US$ dictates all in the ccy market. Expert admit its not so much that A$ is doing anything right - its just growing on the back of the US$ slide. Right now the Bush admin although up front are not admiting to letting the $ slide are not doing too much about what is going on right now. The £ on its own is not strong enough to hold back on this trend.
At the mo the A$ is sitting at 0.65 (Q3 2003) the latest prediction I read put this at 0.755 by this time next year. (www.bbh.com)
Over a 10 year ave the level we are at now is exactly average - which means over 10 years the A$ has been a lot stronger - guess that can happen again.
The A$ is also closly aligned to the Jap Yen, right now the Jap government are propping up their currency, but despite a recent increase in the ccy they have available to to this they are fast running out - also the markets are not really responding too much to these interventions any more. There have been recent calls by the G7 to prevent this kind of intervention - if the calls are acted on could ultimately lead to an even stronger A$.
Taking this into account I feel I am not really likely to gain by holding on - but could make an even bigger hit than I already have. I don't like it but I'm going to exchange. If I stick this money into a bank account in Oz I'm going to get a higher interest rate than I would in the UK so hope to make some back this way......or I could be talking complete drivvle and be eating my words in 6 months time!
exactly what i was thinking,
to be honest i havent got a clue what most of that means but i agree with the jist of it, basically in 6/12 months time the dollar will probably be getting closer to the 2.1 mark than 2.8 if i was ready to move now i would be changing my money and hoping for the best.
Oct 16th 2003, 12:29 pm
#12
visa'd member oh yeah!
Joined: Jan 2003
Location: Adelaide
Posts: 384
Originally posted by louH
Been doing loads of research on this one and from what I can see if you have not done it already its not looking good.
From what I have read I learn that the US$ dictates all in the ccy market. Expert admit its not so much that A$ is doing anything right - its just growing on the back of the US$ slide. Right now the Bush admin although up front are not admiting to letting the $ slide are not doing too much about what is going on right now. The £ on its own is not strong enough to hold back on this trend.
At the mo the A$ is sitting at 0.65 (Q3 2003) the latest prediction I read put this at 0.755 by this time next year. (www.bbh.com)
Over a 10 year ave the level we are at now is exactly average - which means over 10 years the A$ has been a lot stronger - guess that can happen again.
The A$ is also closly aligned to the Jap Yen, right now the Jap government are propping up their currency, but despite a recent increase in the ccy they have available to to this they are fast running out - also the markets are not really responding too much to these interventions any more. There have been recent calls by the G7 to prevent this kind of intervention - if the calls are acted on could ultimately lead to an even stronger A$.
Taking this into account I feel I am not really likely to gain by holding on - but could make an even bigger hit than I already have. I don't like it but I'm going to exchange. If I stick this money into a bank account in Oz I'm going to get a higher interest rate than I would in the UK so hope to make some back this way......or I could be talking complete drivvle and be eating my words in 6 months time!
Been doing loads of research on this one and from what I can see if you have not done it already its not looking good.
From what I have read I learn that the US$ dictates all in the ccy market. Expert admit its not so much that A$ is doing anything right - its just growing on the back of the US$ slide. Right now the Bush admin although up front are not admiting to letting the $ slide are not doing too much about what is going on right now. The £ on its own is not strong enough to hold back on this trend.
At the mo the A$ is sitting at 0.65 (Q3 2003) the latest prediction I read put this at 0.755 by this time next year. (www.bbh.com)
Over a 10 year ave the level we are at now is exactly average - which means over 10 years the A$ has been a lot stronger - guess that can happen again.
The A$ is also closly aligned to the Jap Yen, right now the Jap government are propping up their currency, but despite a recent increase in the ccy they have available to to this they are fast running out - also the markets are not really responding too much to these interventions any more. There have been recent calls by the G7 to prevent this kind of intervention - if the calls are acted on could ultimately lead to an even stronger A$.
Taking this into account I feel I am not really likely to gain by holding on - but could make an even bigger hit than I already have. I don't like it but I'm going to exchange. If I stick this money into a bank account in Oz I'm going to get a higher interest rate than I would in the UK so hope to make some back this way......or I could be talking complete drivvle and be eating my words in 6 months time!
Oct 16th 2003, 1:02 pm
#13
UK to NZ to Canada
Joined: Oct 2003
Location: NZ
Posts: 139
Originally posted by CROSSY
My thoughts exactly, we are in the throws of sorting ours out for sending now. Lets hope neither of us has to eat our words
My thoughts exactly, we are in the throws of sorting ours out for sending now. Lets hope neither of us has to eat our words
you all seem to have alot of money, we are going to nz hubby has a job ready and waiting for him, so things should be ok with him earning as soon as we arrive, but we will still only be taking about 25k from the UK to nz, but we figure when we left school here and bought our first house we survived and never had no money or furniture.
anyone else in the same boat as us, living in grimsby obviously has an affect, if we lived in london maybe it would be different, but money isnt everything, we got a great life out in nz, so if we work our butts off we will make good things happen !
thanks for reading sorry to bore you....
lottie
Oct 16th 2003, 1:16 pm
#14
She's a bird, you know
Joined: Jul 2003
Location: Yorkshire
Posts: 7,655
Originally posted by TiggerLottie
Wow
you all seem to have alot of money, we are going to nz hubby has a job ready and waiting for him, so things should be ok with him earning as soon as we arrive, but we will still only be taking about 25k from the UK to nz, but we figure when we left school here and bought our first house we survived and never had no money or furniture.
anyone else in the same boat as us, living in grimsby obviously has an affect, if we lived in london maybe it would be different, but money isnt everything, we got a great life out in nz, so if we work our butts off we will make good things happen !
thanks for reading sorry to bore you....
lottie
Wow
you all seem to have alot of money, we are going to nz hubby has a job ready and waiting for him, so things should be ok with him earning as soon as we arrive, but we will still only be taking about 25k from the UK to nz, but we figure when we left school here and bought our first house we survived and never had no money or furniture.
anyone else in the same boat as us, living in grimsby obviously has an affect, if we lived in london maybe it would be different, but money isnt everything, we got a great life out in nz, so if we work our butts off we will make good things happen !
thanks for reading sorry to bore you....
lottie
We're at the stage in our lives where we have a choice: stay here and scrabble to get on the property ladder, or go back to Oz and do it there...somehow Oz seems like the better option!
Oct 16th 2003, 1:24 pm
#15
UK to NZ to Canada
Joined: Oct 2003
Location: NZ
Posts: 139
Originally posted by bundy
We'll only be taking about £10,000 with us (no house or other assets to sell, so this is our only savings). But then we have no kids and will be living in the middle of nowhere, so we won't need a lot.
We're at the stage in our lives where we have a choice: stay here and scrabble to get on the property ladder, or go back to Oz and do it there...somehow Oz seems like the better option!
We'll only be taking about £10,000 with us (no house or other assets to sell, so this is our only savings). But then we have no kids and will be living in the middle of nowhere, so we won't need a lot.
We're at the stage in our lives where we have a choice: stay here and scrabble to get on the property ladder, or go back to Oz and do it there...somehow Oz seems like the better option!
scarey thought !
Tiggerlottie
Wanna buy a house?
