Pound - AUD exchange rates
Jul 31st 2009, 8:02 am
#1
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Pound - AUD exchange rates
I just spoke with HiFX about sending £10,000 to Australia and they told me the exchange rate was now BELOW 2 Dollars to the Pound - OUCH!
I'll be loosing several thousand Dollars compared to 6 months ago.
- CDM
I'll be loosing several thousand Dollars compared to 6 months ago.
- CDM
Jul 31st 2009, 8:09 am
#2
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Re: Pound - AUD exchange rates
I'm also in the same situation, what's to do? Just keep the green in a bank over here and keep chipping away, or bite the bullet? Any advise out there would be welcome.
Jul 31st 2009, 8:32 am
#3
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Re: Pound - AUD exchange rates
it was 2.08 two weeks ago , so hold fire!
Jul 31st 2009, 10:02 am
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Jul 31st 2009, 10:06 am
#6
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Re: Pound - AUD exchange rates
I have been watching it since March............... actually that's not true, I have been watching it since last October as that's when we were due to exchange contracts on our house. In the end we exchanged in December and missed the 2.7 although we did fix some at 2.3. Now we just watch the rate ping pong between 2 and 2.1. Most of our equity is trapped in the UK. We will be waiting a long time to see 2.5 again.... Wish we had settled for 2.3. Hindsight is a wonderful thing!
Jul 31st 2009, 10:06 am
#7
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Re: Pound - AUD exchange rates
Stop thinking along the lines of what you've lost (or gained) had you exchanged before today. It's irrelevant. We all do it but it does no good and seriously doesn't help the stress factor of the move.
Jul 31st 2009, 10:10 am
#8
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Re: Pound - AUD exchange rates
couldnt have said it better myself... Hindsight is one of the worst traits we have!
Jul 31st 2009, 11:05 am
#9
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Re: Pound - AUD exchange rates
In my opinion! keep your money in the bank. The AU$ is very overvalued not just against the pound but the US$ too. This is because housing and retail data is artificially high due to the FHBG and the $900 economic stimulus. Once this ends and the $900 has worked its way thru the system the outlook may appear a little more bleak, the AU$ will devalue and we could be looking at the 2.3 - 2.7 to the pound range. Watch this space....................
Last edited by TheSun; Jul 31st 2009 at 11:09 am.
Jul 31st 2009, 11:09 am
#10
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Re: Pound - AUD exchange rates
In my opinion! keep your money in the bank. The AU$ is very overvalued not just against the pound but the US$ too. This is because housing and retail data is artificialy high due to the FHBG and the $900 econonmic stimulus. Once this ends and the $900 has worked its way thru the system the outlook may apear a little more bleak, the AU$ will devalue and we could be looking at the 2.3 - 2.7 to the pound range. Watch this space....................
If I keep the money in the UK bank, I'll be hit with charges to withdraw it from within Oz.
- CDM
Jul 31st 2009, 11:50 am
#11
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Re: Pound - AUD exchange rates
... things will improve, got enough AUD$ to get myself started & hopefully I may have a decent job in the bag in a couple of weeks which will make all the difference!!
Jul 31st 2009, 12:47 pm
#13
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Re: Pound - AUD exchange rates
In my opinion! keep your money in the bank. The AU$ is very overvalued not just against the pound but the US$ too. This is because housing and retail data is artificially high due to the FHBG and the $900 economic stimulus. Once this ends and the $900 has worked its way thru the system the outlook may appear a little more bleak, the AU$ will devalue and we could be looking at the 2.3 - 2.7 to the pound range. Watch this space....................
In my opinion i would hold out for about 2.05 if you need it soon, it should go back above 2.00 again.
Jul 31st 2009, 1:06 pm
#14
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Re: Pound - AUD exchange rates
For every person who gives you an opinion one way on this thread, you will get another who goes the other way though, so take it all with a pinch of salt.
Don't let your plans to emigrate be dominated by the current exchange rate and the endless agonising over what it is going to do...
Jul 31st 2009, 1:16 pm
#15
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Re: Pound - AUD exchange rates
Agree. There is nothing but evidence out there in the GBP/AUD relationship to continue to indicate the trend we have been seeing for the last 6 months. You could be waiting a loooonnnggg time before you even see 2.20 again.
For every person who gives you an opinion one way on this thread, you will get another who goes the other way though, so take it all with a pinch of salt.
Don't let your plans to emigrate be dominated by the current exchange rate and the endless agonising over what it is going to do...
For every person who gives you an opinion one way on this thread, you will get another who goes the other way though, so take it all with a pinch of salt.
Don't let your plans to emigrate be dominated by the current exchange rate and the endless agonising over what it is going to do...