wiffle?

interesting article here as to why the dollar has plumetted:

http://www.theaustralian.news.com.au...-16382,00.html

cj321

I suggest you go here http://www.xe.com/fx/ and read up on Foreign Currency Exchange. Not sure about AUD in UK banks but unless you closed your AU bank account it should be still there. I have no connection to the site I recommend other than being a regular user.

Safin

I used them a couple of weeks back but didn't see anything about auto confirm - what is it?

what's the reasoning behind his advice? What sort of lumps (or % if you don't want to mention £) does he recommend? We're in similar situation

datamile

Auto - Confirm. Login to ozforex , Your details tab , auto confirm link

chilliman

50% on the limit & hold 50% to see how it goes - have got £200k to change!!

Safin

you said that the margin is better for us if we do a limit order - any idea by what amount? Can't see the reasoning on that really but if that is the case I'll limit order rather than watch myself. Mind you I said that before and bottled out at 2.63 rather than wait for the 2.7. So far pleased with that decision but as I don't need the $$ yet I'll be a bit fed up if it goes well above that later.....

chilliman

No details it was just a comment! He did say that the margin depends on market volatility!!

stephen elaine

spoke to broker today he tells me if the £ stays strong throughout wednesday 28th the Oz dollar will start to weaken thursday/friday which in theory means change your sterling before the end of the week?If this makes sense ? Hifx brokers are now charging 15% deposit for all transactions as apposed to the original 10% because of the vvolatilecurrency market.

stephen elaine

Opps Sorry volatile currency

the greens

But am I right in thinking that if you book a 'market order' with say HIFX, the deal is locked in, so if it reaches the agreed rate they automatically buy it on your behalf rather than having to phone to check you still want to go ahead with the transaction?

chilliman

If you mean "limit" order Yup thats my understanding

MTPockets

Hi. I'd agree with one of the earlier posters about having a read up on things. It worries me a little when any advice people receive isn't really explained to them. It's obviously your call, but don't feel embarassed to quiz them about their views. It's your money and their job.

You always need to bear in mind that gbp/aud isn't traded as just a pair. It's at least a three way assessment - usd/gbp, usd/aud, gbp/aud (and I'd add yen as well).

The reason the guy mentioned wednesday is that there's a fair bit of uk data and later the US interest rate decision which will be a big one. There's also growing speculation about rate cuts in japan and later in the week you have US GDP and Core PCE (which is the major inflation inflation guage used by the Fed). These are all the sort of data that send trading floors mental, and next week is pretty packed with data too.

http://www.dailyfx.com/calendar/

So the point is it's likely to very volatile. There are a lot of sites with data/news/charts - the one above is just one more example. But have a read through things as it will only make you more informed and able to chat things through with your broker.

the pursers

We got back to Aus after 4 years away and our NAB account was still there so you might be lucky!
Some banks in UK have international bank accounts, it might be worth checking, some may allow you to bank in another currency from the UK. They don't usually offer a very good exchange rate though so you're probably better off researching doing the actual exchange through someone else!
Who knows when it is best to buy $? We waited for a year to exchange the last of ours and have just got $2.53 rather than the $2.13 we would have got a month or two ago. It's always a gamble, but taking a look on the trend charts on Ozforex/similar sites might help. Have a look at the last year or so to get an overall picture.
I'm not a financial adviser of course, but hope this helps you!

chilliman

Limit order in, not my usual broker & he wasn't convinced I would achieve the rate - $AUD strengthened today. But who knows what will happen next week!??

etones

I see that the $ is getting stronger very quickly.

Any ideas why? I was expecting it to further weaken based on this thread

TM