Foreign Exchange
Feb 3rd 2008, 5:05 pm
#1
Subclass 309er
Thread Starter
Joined: Jul 2007
Location: London to Melbourne via Canberra
Posts: 71
Foreign Exchange
Hi all,
I have no experience with foreign exchange and from what I can gather the pound is quite weak against the aussie dollar at the moment. I am intending on migrating in June. Does anyone expect a stronger pound/weaker dollar during the coming months or am I best just to transfer my savings now?
Tim.
I have no experience with foreign exchange and from what I can gather the pound is quite weak against the aussie dollar at the moment. I am intending on migrating in June. Does anyone expect a stronger pound/weaker dollar during the coming months or am I best just to transfer my savings now?
Tim.
Feb 4th 2008, 7:05 am
#2
Lost in BE Cyberspace
Joined: Mar 2003
Posts: 9,397
Re: Foreign Exchange
I'm afraid that anyone who *knows* the answer to this would be too busy making money himself to tell you <g>.
The professionals in the exchange business make their money by taking a cut when *you* transfer cash so they aren't too concerned with the actual rate. Then they also make it by taking positions on huge sums and selling when there's a tiny movement: might make *you* a couple of dollars but for their amounts it is thousands.
You just have to roll with the market: sorry!
The professionals in the exchange business make their money by taking a cut when *you* transfer cash so they aren't too concerned with the actual rate. Then they also make it by taking positions on huge sums and selling when there's a tiny movement: might make *you* a couple of dollars but for their amounts it is thousands.
You just have to roll with the market: sorry!
