Originally Posted by DunRoaminTheUK

$ seems to be dropping now...Bugger it. We are waiting for word from our solicitors for the exchange of contracts so that we can agree a deal with OzForex.

I figure that so far we have lost over $5k in 2 days.

Solicitors arent worth a bucket of piss.....

Originally Posted by sparks124

why didn't you do a forward contract with them and secure the rate as it is at the moment with a deposit and pay the rest when the house completes. we've just gone through our lower limit and brought at $2.45.
the advise was that it is probable going down rather than up now.

now where's my crystal ball

Originally Posted by DunRoaminTheUK

Quite simply because our buyers may still potentially pull out leaving us with a huge amount to settle without the means to settle it.

Originally Posted by sparks124

you could have six months plus to find the rest of the balance, all you need to find now is the 10% deposit.

Originally Posted by DunRoaminTheUK

$ seems to be dropping now...
I figure that so far we have lost over $5k in 2 days.

Originally Posted by DunRoaminTheUK

6 months doesn't guarantee a house sale though. It's a very big risk. My own solicitor and Matt at OzForex advised us to sit-tight until we exchange. I have to agree with him

Originally Posted by arkon

After a bit of debate on another thread I thought I'd update and make my
data public. Attatched is a 10 year history of Pound versus Aus Dollar.
Included is an excel file and a CSV for those that don't have excel.

I have run a through sums through it and in summary for those without excel:-

from 1/5/96 to 1/5/2006 Total 3655 days

10 year average = 2.4918
10 year median = 2.518
Days above 2.5 = 1938 or 53% of the time
Days below 2.45 = 1411 or 39% of the time
Days below 2.35 = 773 or 21% of the time

In general it has spend time alot higher in the recent past 5 years
than the previous 5 years.

For those currently sweating out the do I don't I exchange phenomena
all I would say is if the rate as of now would get you what you need and want
in australia then by being greedy you run the risk of it dropping. As I said on another thread the Bankwest currently gives 6.4% on balances up to a million
so thats $64000 Pa in interest. How many points increase would the exchange rate have to shift by to give you this amount extra?

Originally Posted by DunRoaminTheUK

$ seems to be dropping now...Bugger it. We are waiting for word from our solicitors for the exchange of contracts so that we can agree a deal with OzForex.

I figure that so far we have lost over $5k in 2 days.

Solicitors arent worth a bucket of piss.....

Originally Posted by kaydave

Could you please send the zip file again as it says it is corrupted when we try to open it.

Thank you

David & Kay