Go Back  British Expats > Living & Moving Abroad > Australia
Reload this Page >

The great £ verses $ debate

The great £ verses $ debate

Old Jan 16th 2008, 2:14 pm
  #1  
BE Enthusiast
Thread Starter
 
JPSUPERHOOPER's Avatar
 
Joined: Dec 2007
Location: Perth
Posts: 360
JPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to all
Default ozzy$

hi

any economists about to add any input re the AUS$.
as far as i can see the last few weeks it has been in freefall.
any coments?
JPSUPERHOOPER is offline  
Old Jan 16th 2008, 2:21 pm
  #2  
Ping pong PoM
 
alipally's Avatar
 
Joined: Aug 2006
Location: Melbourne
Posts: 1,537
alipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond repute
Default Re: ozzy$

the UK £ has been in freefall against the aus$ you mean!

It's a nightmare, I'm bricking myself and won't be running to take my money from the UK until it improves somewhat!

That said I don't have to do it NOW as we still have a house to sell... I guess a lot depends on what happens with interest rates here...
alipally is offline  
Old Jan 16th 2008, 2:49 pm
  #3  
Whey hey got my Visa
 
allankate's Avatar
 
Joined: Sep 2007
Location: Stafford - Secret Harbour here we come..
Posts: 478
allankate is a name known to allallankate is a name known to allallankate is a name known to allallankate is a name known to allallankate is a name known to allallankate is a name known to allallankate is a name known to allallankate is a name known to allallankate is a name known to allallankate is a name known to allallankate is a name known to all
Default Re: ozzy$

Originally Posted by JPSUPERHOOPER View Post
hi

any economists about to add any input re the AUS$.
as far as i can see the last few weeks it has been in freefall.
any coments?

You should sign up with OzForex (free to register) and they will send you a daily report. For example this is in their report from this morning:-

:: Great British Pound: The Pound Sterling finally found some respite overnight in the form of the December UK CPI data. Inflation in the region remained steady rising 2.1% in the year to December 2007, the same as it was in the year to November 2007 but above the BoE’s target rate of 2% for the third consecutive month. Investors who have been factoring more aggressive interest rate reduction in the UK were caught short and the GBP/USD rallied hard from early London lows of 1.9545 to post a high of 1.9740 before a late U.S move lower to open this morning back at 1.9650. Given the move higher in the GBP and a large fall in the AUD the cross rate rallied over 2% from its early European lows of 2.1690 to open this morning at 2.2170.

- We expect a range today in the GBP/AUD rate of 2.2100 to 2.2200.


Hope we get back to 2.35 or even 2.45 before I sell my house

Allan
allankate is offline  
Old Jan 16th 2008, 2:52 pm
  #4  
BE Enthusiast
Thread Starter
 
JPSUPERHOOPER's Avatar
 
Joined: Dec 2007
Location: Perth
Posts: 360
JPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to all
Default Re: ozzy$

Originally Posted by allankate View Post
You should sign up with OzForex (free to register) and they will send you a daily report. For example this is in their report from this morning:-

:: Great British Pound: The Pound Sterling finally found some respite overnight in the form of the December UK CPI data. Inflation in the region remained steady rising 2.1% in the year to December 2007, the same as it was in the year to November 2007 but above the BoE’s target rate of 2% for the third consecutive month. Investors who have been factoring more aggressive interest rate reduction in the UK were caught short and the GBP/USD rallied hard from early London lows of 1.9545 to post a high of 1.9740 before a late U.S move lower to open this morning back at 1.9650. Given the move higher in the GBP and a large fall in the AUD the cross rate rallied over 2% from its early European lows of 2.1690 to open this morning at 2.2170.

- We expect a range today in the GBP/AUD rate of 2.2100 to 2.2200.


Hope we get back to 2.35 or even 2.45 before I sell my house

Allan
thanks 4 that
yeah me 2
that will help us out alot fingers crossed and gl
JPSUPERHOOPER is offline  
Old Jan 16th 2008, 2:58 pm
  #5  
Forum Regular
 
Swooty's Avatar
 
Joined: Jul 2007
Location: Gloucester UK
Posts: 112
Swooty will become famous soon enough
Default Re: ozzy$

Just looked and its 2.2406

Keep going up
Swooty is offline  
Old Jan 16th 2008, 3:28 pm
  #6  
BE Enthusiast
 
aus2be's Avatar
 
Joined: Sep 2007
Location: Perth WA............ near Joondalup
Posts: 773
aus2be has much to be proud ofaus2be has much to be proud ofaus2be has much to be proud ofaus2be has much to be proud ofaus2be has much to be proud ofaus2be has much to be proud ofaus2be has much to be proud ofaus2be has much to be proud ofaus2be has much to be proud ofaus2be has much to be proud ofaus2be has much to be proud of
Default Re: ozzy$

Just had a look at the rate over the last few days from the OxForex site:



Darren
aus2be is offline  
Old Jan 16th 2008, 4:15 pm
  #7  
Forum Regular
 
Joined: Jul 2007
Location: Gosport
Posts: 55
loolaa1909 is just really niceloolaa1909 is just really niceloolaa1909 is just really niceloolaa1909 is just really niceloolaa1909 is just really niceloolaa1909 is just really niceloolaa1909 is just really niceloolaa1909 is just really nice
Default Re: ozzy$

We leave for Melbourne on 26/1 and I am at a loss as to what to do. We need to transfer funds befire we leave and it seems to be going up at the moment so should I transfer now or wait? Don't want it to fall back down to 2.17 though! Aahhhhhhhhhhhhh, thought the stress would be over once the visa was granted but it is only just beginning. Help me! Any advice gratefully received, but I will track you down if you advise me and I lose a whole load of money ok?
Thanks
loolaa1909 is offline  
Old Jan 17th 2008, 5:29 pm
  #8  
Forum Regular
 
Joined: Jan 2008
Location: Halls Head
Posts: 44
Kangy-roo is an unknown quantity at this point
Default Re: ozzy$

Hi, This thread has probably stopped me from doing something stupid. I have been ringing around different exchange agents today to work out the best way to send our money. We are probably moving in March, and we still haven't sold our house, I was considering fixing the exchange rate in advanced as I was panicking that the rate would keep going down. I have now ordered a market guide and will keep my fingers crossed for an upturn for a while.
Thanks
Kangy-roo is offline  
Old Jan 17th 2008, 6:19 pm
  #9  
Victorian Evangelist
 
Buzzy--Bee's Avatar
 
Joined: Sep 2005
Location: Melbourne, by the beach, living the dream.
Posts: 7,704
Buzzy--Bee has a reputation beyond reputeBuzzy--Bee has a reputation beyond reputeBuzzy--Bee has a reputation beyond reputeBuzzy--Bee has a reputation beyond reputeBuzzy--Bee has a reputation beyond reputeBuzzy--Bee has a reputation beyond reputeBuzzy--Bee has a reputation beyond reputeBuzzy--Bee has a reputation beyond reputeBuzzy--Bee has a reputation beyond reputeBuzzy--Bee has a reputation beyond reputeBuzzy--Bee has a reputation beyond repute
Default Re: ozzy$

Don't forget that if you register with Ozforex and mention that you are a member of British Expats you should get a better rate.

You can lock funds in at a future rate if you don't need the money right now.

Buzzy
Buzzy--Bee is offline  
Old Jan 19th 2008, 12:20 pm
  #10  
BE Forum Addict
 
MikeStanton's Avatar
 
Joined: Jan 2004
Location: Far away from canned Oz
Posts: 1,833
MikeStanton has a reputation beyond reputeMikeStanton has a reputation beyond reputeMikeStanton has a reputation beyond reputeMikeStanton has a reputation beyond reputeMikeStanton has a reputation beyond reputeMikeStanton has a reputation beyond reputeMikeStanton has a reputation beyond reputeMikeStanton has a reputation beyond reputeMikeStanton has a reputation beyond reputeMikeStanton has a reputation beyond reputeMikeStanton has a reputation beyond repute
Default Re: ozzy$

Originally Posted by JPSUPERHOOPER View Post
hi

any economists about to add any input re the AUS$.
as far as i can see the last few weeks it has been in freefall.
any coments?
Not an economist, but I know a reasonable amount about economics (MBA). I predicted the exchange rate would stay at ~2.1-2.2. However, contrary to what a lot of economists were saying earlier, Oz is now likely to take a big hit from the now very probable US recession - proof of this is that the Oz stock exchange has been in free fall over the past few days. Difficult to know if this is irrational sentiment or not. Anyhow, what it does point to is: i) Oz interest rates may not rise so quickly, otherwise the Oz economy may stall very quickly and ii) the big commodities boom in Oz ain't going to be enough to protect them.

So the impact of all this? After the dust settles - next 6 months or so - my best guess is UK:Oz exchange rate may climb slightly to 2.2-2.3

Last edited by MikeStanton; Jan 19th 2008 at 12:23 pm.
MikeStanton is offline  
Old Jan 19th 2008, 12:27 pm
  #11  
 
Joined: Nov 2006
Posts: 2,225
Nerine is an unknown quantity at this point
Default Re: ozzy$

We're watching the Ozzie/NZ dollar rates hoping that things will improve in our favour in the next few months and we can get our cash out of NZ, any predictions there as to what the rates may do?
Nerine is offline  
Old Jan 19th 2008, 1:13 pm
  #12  
BE Enthusiast
 
aus2be's Avatar
 
Joined: Sep 2007
Location: Perth WA............ near Joondalup
Posts: 773
aus2be has much to be proud ofaus2be has much to be proud ofaus2be has much to be proud ofaus2be has much to be proud ofaus2be has much to be proud ofaus2be has much to be proud ofaus2be has much to be proud ofaus2be has much to be proud ofaus2be has much to be proud ofaus2be has much to be proud ofaus2be has much to be proud of
Default Re: ozzy$

Originally Posted by MikeStanton View Post
Not an economist, but I know a reasonable amount about economics (MBA). I predicted the exchange rate would stay at ~2.1-2.2. However, contrary to what a lot of economists were saying earlier, Oz is now likely to take a big hit from the now very probable US recession - proof of this is that the Oz stock exchange has been in free fall over the past few days. Difficult to know if this is irrational sentiment or not. Anyhow, what it does point to is: i) Oz interest rates may not rise so quickly, otherwise the Oz economy may stall very quickly and ii) the big commodities boom in Oz ain't going to be enough to protect them.

So the impact of all this? After the dust settles - next 6 months or so - my best guess is UK:Oz exchange rate may climb slightly to 2.2-2.3
Got this in an email from OxForex yesterday.
---------------------
:: Great Britain Pound: Sterling regained some ground against the US dollar last night, and opens this morning clutching perilously to the 1.97 US dollar mark. After a quiet session of trade in Asian markets, GBP/USD was gradually buoyed in European markets after the market shifted its attention to the likelihood that the Bank of England may keep rates on hold for longer than expected. The sentiment was enough to push GBP/USD to an overnight high of 1.9790 before it eased in New York trade but was also enough to prop up the pound on the cross rates, with GBP/AUD currently buying 2.2464 and GBP/NZD up to 2.5726. Tonight’s release of UK retail sales data should be closely scrutinised by pound traders.

- We expect a range today in the GBP/AUD rate of 2.2420 to 2.2520

---------------------

Darren
aus2be is offline  
Old Jan 20th 2008, 12:49 pm
  #13  
Ping pong PoM
 
alipally's Avatar
 
Joined: Aug 2006
Location: Melbourne
Posts: 1,537
alipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond repute
Default Re: ozzy$

Originally Posted by aus2be View Post
Just had a look at the rate over the last few days from the OxForex site:

http://img.skitch.com/20080116-etegg...jketssc2uf.jpg

Darren
Thank god it's on the way back up... I don't want to exchange for less than 2.40!
Not that I've sold my house yet!!!!
alipally is offline  
Old Jan 20th 2008, 6:55 pm
  #14  
BE Enthusiast
Thread Starter
 
JPSUPERHOOPER's Avatar
 
Joined: Dec 2007
Location: Perth
Posts: 360
JPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to allJPSUPERHOOPER is a name known to all
Default Re: ozzy$

Originally Posted by alipally View Post
Thank god it's on the way back up... I don't want to exchange for less than 2.40!
Not that I've sold my house yet!!!!
2.4 would be great!!!!!!!!!!!!!!!
JPSUPERHOOPER is offline  
Old Jan 31st 2008, 2:30 am
  #15  
Forum Regular
 
parh's Avatar
 
Joined: Jul 2006
Location: Coomera, Gold Coast
Posts: 153
parh is a glorious beacon of lightparh is a glorious beacon of lightparh is a glorious beacon of lightparh is a glorious beacon of lightparh is a glorious beacon of lightparh is a glorious beacon of lightparh is a glorious beacon of lightparh is a glorious beacon of lightparh is a glorious beacon of lightparh is a glorious beacon of lightparh is a glorious beacon of light
Default Re: ozzy$

The exchange rate is still shocking. Any chance of it climbing a little in the near future, maybe to 2.3 for starters?? PARH
parh is offline  

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2021 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.