I love the way Nursebank pops up out of nowhere!

I have a suspicion we won't bee seeing too much of Nursebank from now on.

Before the thread gets shut down anyone notice the ex rate just plunged down to $2.12! Clearly no effect from the ANZ then.

And because of this news no doubt:

http://au.biz.yahoo.com/080219/19/1m2rq.html

SYDNEY, Feb 19 (Reuters) - Australia's central bank considered raising interest rates by a more aggressive 50 basis points at its Feb. 5 policy meeting, minutes of the meeting showed on Tuesday, pointing strongly to further hikes ahead.

Holy Sh*t!

I know it's been said before but honestly everyone would go stark staring mad if they compared the current rate to that of a few months ago or further back. If you have enough to exchange, you are in a better position than many coming over who may only have the shirts on their backs and a few hundred dollars. What's gone is gone, there is no point crucifying yourselves because of when you got your visas.

When we first planned the move, the rate was about 3.0. When we came to actually move some money, we ended up with a rate of 2.5. Compared to now that was amazing, compared to the previous year it wasn't but there's nothing you can do if you need the money immediately you arrive. We stressed, it's not worth it so please don't do what we did, you all have enough on your plates.

Couldn't have put it better myself! I'm glad I don't have a mortgage...


S

We've just exchanged the last of our money from the UK today through HIFX - yes at the current diabolical rate but now we have all of our money in Aussie. The thought of waiting for a better rate was just too depressing. We wanted the money here so we can build a pool and sitting around waiting for the rate to go up in order to do that was not our idea of fun.

As it is we did well with the rate hike last year, not so well earlier this year and truly the pits today but in the end its all over here and we can stop obsessing with HIFX marketwatch!!!!!!!

One thing though - we did not "lose" money as some of you are thinking. We just didn't get as many dollars for the pounds that we'd hoped - but then we'd wished for 3 dollars to the pound but lets face it the chances of that are pretty much ZERO.

If you're making a genuine "for good" move - bring it over and work with less. If you're not sure if the move will be permanent leave it where it is and just let the interest add to the capital each month. One day ~ the rate might go up! If it doesn't, we'll you'll be bringing it over without much of a loss on todays rate (maybe)!

Speaking to HIFX today they are thinking that the dollar is going to smash through the 2.00 levels this year and will make 1.00 against USD!!!!!!! That basically was what put the lid on our last move.

Now I've deleted all links to forex and HIFX pages and I'll try and get over it IF the rate goes up.

I think you've done the right thing.

I'm thinking that the AUD will reach parity with the USD in the not too distant future.

2.11 at the mo. Very sad if you have to exchange in the near future. On the other hand if you have a few thousand AUD exchange em for UK Pounds then exchange back when/if the rate recovers.

A risky move IMO, can you name any good reasons why the GBP will recover and not fall further? I can't think of any! UK Interest rates dropping while Oz are rising, Nothern Crock nationalised, massive budget and trade deficits.