FX £ - $ AUD This week
#62
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Re: FX £ - $ AUD This week
i've bin polishing my balls too....doesn't seem to be working yet !
#64
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Re: FX £ - $ AUD This week
$2.32 at 20.00 yesterday, up to $2.36 by the time of the 0.75% rate cut at 04.30, peaked at $2.37 at 05.30 and heading back down to $2.35 as I type....
What next? Well if BoE cut by only 0.5% I reckon the £ will fall again. 1% may seem aggresive enough to help the £ out and send it up. Then again it might cause panic and do the opposite. I threw the rule book out weeks ago.
.... so who knows????
and to think it was up at $2.60 only 8 days ago !!!
What next? Well if BoE cut by only 0.5% I reckon the £ will fall again. 1% may seem aggresive enough to help the £ out and send it up. Then again it might cause panic and do the opposite. I threw the rule book out weeks ago.
.... so who knows????
and to think it was up at $2.60 only 8 days ago !!!
Apparently "Financial markets were pricing another 75-basis-point cutn ($AUD) next month and a further quarter-point reduction in early 2009, according to Credit Suisse analysts." ...
#65
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Re: FX £ - $ AUD This week
There is more than one boat at the moment (seems to be one every other week thankfully) so I wouldn't worry unless you desperately need money there this instant!
Having worked in Oz twice before this exchange rate has driven me nuts before. I brought back at about 43.5p to the dollar in Oct last year only to frustratingly watch it go up to nearly 50p! Drives you mad no matter what as I don't seem to be able to stop watching it.
Move with wife next Aug-Sept permenantly so would love to see 2.7+ rate now.
This has got me thinking though should we all be making some money out of this? Lets say had £100,000 equity from house now. Bought $ at 2.6 about 8 days ago and sold in yesterdays low at 2.3 that would be a profit of £13k!!!!
But what about the tax situation? If brought it all back to UK then obviously CGT would be charged on the 13k but what if you left it in Oz account and just brought back the £100k to UK therefore no gain here to tax??
Not sure how Oz tax man would see that when you move there in next year or two?
Having worked in Oz twice before this exchange rate has driven me nuts before. I brought back at about 43.5p to the dollar in Oct last year only to frustratingly watch it go up to nearly 50p! Drives you mad no matter what as I don't seem to be able to stop watching it.
Move with wife next Aug-Sept permenantly so would love to see 2.7+ rate now.
This has got me thinking though should we all be making some money out of this? Lets say had £100,000 equity from house now. Bought $ at 2.6 about 8 days ago and sold in yesterdays low at 2.3 that would be a profit of £13k!!!!
But what about the tax situation? If brought it all back to UK then obviously CGT would be charged on the 13k but what if you left it in Oz account and just brought back the £100k to UK therefore no gain here to tax??
Not sure how Oz tax man would see that when you move there in next year or two?
#66
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Joined: Nov 2004
Location: Murrumbeena, Melbourne
Posts: 380
Re: FX £ - $ AUD This week
There is more than one boat at the moment (seems to be one every other week thankfully) so I wouldn't worry unless you desperately need money there this instant!
Having worked in Oz twice before this exchange rate has driven me nuts before. I brought back at about 43.5p to the dollar in Oct last year only to frustratingly watch it go up to nearly 50p! Drives you mad no matter what as I don't seem to be able to stop watching it.
Move with wife next Aug-Sept permenantly so would love to see 2.7+ rate now.
This has got me thinking though should we all be making some money out of this? Lets say had £100,000 equity from house now. Bought $ at 2.6 about 8 days ago and sold in yesterdays low at 2.3 that would be a profit of £13k!!!!
But what about the tax situation? If brought it all back to UK then obviously CGT would be charged on the 13k but what if you left it in Oz account and just brought back the £100k to UK therefore no gain here to tax??
Not sure how Oz tax man would see that when you move there in next year or two?
Having worked in Oz twice before this exchange rate has driven me nuts before. I brought back at about 43.5p to the dollar in Oct last year only to frustratingly watch it go up to nearly 50p! Drives you mad no matter what as I don't seem to be able to stop watching it.
Move with wife next Aug-Sept permenantly so would love to see 2.7+ rate now.
This has got me thinking though should we all be making some money out of this? Lets say had £100,000 equity from house now. Bought $ at 2.6 about 8 days ago and sold in yesterdays low at 2.3 that would be a profit of £13k!!!!
But what about the tax situation? If brought it all back to UK then obviously CGT would be charged on the 13k but what if you left it in Oz account and just brought back the £100k to UK therefore no gain here to tax??
Not sure how Oz tax man would see that when you move there in next year or two?
I had an offer of 2.61 a couple of weeks ago, didn't buy as was hanging out for the 2.7. I have £200k equity so could've made a fair bit, could've, shudda, would'a ... ???
#67
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Joined: Jun 2008
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Re: FX £ - $ AUD This week
so easy to say with hindsight I know!
Just checked with Ozforex as rules say no speculative trading but you can keep transferring between your own accounts, they just can't hold a trading fund for you.
Chilli, with £200k just 1p movement in the $ to £ rate would make c£4800!!!!
Scary when you start looking at these figures as recently it has been easy to see a 1p movement most days!
Beats working for a living!
Just makes me wonder about the tax even more now.
Just checked with Ozforex as rules say no speculative trading but you can keep transferring between your own accounts, they just can't hold a trading fund for you.
Chilli, with £200k just 1p movement in the $ to £ rate would make c£4800!!!!
Scary when you start looking at these figures as recently it has been easy to see a 1p movement most days!
Beats working for a living!
Just makes me wonder about the tax even more now.
#68
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Joined: Nov 2004
Location: Murrumbeena, Melbourne
Posts: 380
Re: FX £ - $ AUD This week
so easy to say with hindsight I know!
Just checked with Ozforex as rules say no speculative trading but you can keep transferring between your own accounts, they just can't hold a trading fund for you.
Chilli, with £200k just 1p movement in the $ to £ rate would make c£4800!!!!
Scary when you start looking at these figures as recently it has been easy to see a 1p movement most days!
Beats working for a living!
Just makes me wonder about the tax even more now.
Just checked with Ozforex as rules say no speculative trading but you can keep transferring between your own accounts, they just can't hold a trading fund for you.
Chilli, with £200k just 1p movement in the $ to £ rate would make c£4800!!!!
Scary when you start looking at these figures as recently it has been easy to see a 1p movement most days!
Beats working for a living!
Just makes me wonder about the tax even more now.
Hmmm well if you have a "balance" equity fund & Just keep moving one way then another seems like a good way to earn a bit of money. But only if the rate yo/yo's!!!
I do have my "ducks in a row" & limit order in incase there's another spike!!
#69
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Joined: Mar 2008
Location: Winging my way to the Central Coast!!!
Posts: 836
Re: FX £ - $ AUD This week
Gutted:curse: I was hoping to jump off this wagon today with stacks of $'s in my pocket. Limit order is in, must now try and stop watching the rates, it's driving me crazy.
#70
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Joined: Nov 2004
Location: Murrumbeena, Melbourne
Posts: 380
Re: FX £ - $ AUD This week
It is totally driving me nuts also, Ive got enough on my plate without this exchange nonsense too - what was Gavbro's comment about "having the nerve to hold out until December". There getting a little freyed now!!
#71
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Joined: Jan 2007
Location: Perth, WA
Posts: 365
Re: FX £ - $ AUD This week
unless there is a MAJOR financial shake up again, $2.75 is NOT gonna happen this year !
#73
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Joined: Jun 2008
Posts: 730
Re: FX £ - $ AUD This week
what's a balance equity fund and where do I get one. A 1p yo yo seems to happen most weeks so I figure we all watch the rates so much why not use the time invested to get some return!?
#74
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Re: FX £ - $ AUD This week
balancing your equity so say £200K, exhange £100K in $AUD at a peak = £100k in Uk, $AUD 230000 at current rates. If rates go up change some more £'s, if go down change some $AUD!??
#75
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Re: FX £ - $ AUD This week
yep Chilliman that makes sense to me.
Sat here watching live chart and it's gone down into the 2.29's now :curse:.
Wish I had this idea on Oct 28th when was 2.6!
Lets hope that interest rate drops here on thursday and will reverse the trend as it seems to have helped the AUD by announcing their 0.75% cut!?
Sat here watching live chart and it's gone down into the 2.29's now :curse:.
Wish I had this idea on Oct 28th when was 2.6!
Lets hope that interest rate drops here on thursday and will reverse the trend as it seems to have helped the AUD by announcing their 0.75% cut!?