Re: Pound - AUD exchange rates
 

It is very easy to say that you will wait for 2.50, but that might take 4 years! if it was as easy as that then everyone would just trade at 2.50. I do agree waiting is a good option, but it all depends on the individuals circumstances, when you will need the money. Most people that i have spoken to generally will need it in a year

Re: Pound - AUD exchange rates
 

4 years for a 20% gain........what would a good interest rate pay right now in Oz compared to the UK? Especially as there may be interest rate rises coming on over here.....

Re: Pound - AUD exchange rates
 

But if someone needs the funds in Aus now, it doesn't matter what the rate is, they need the funds now. That was my point.

Not having funds when you need them is a damned sight more stressful than transferring the funds at a lower rate.

Re: Pound - AUD exchange rates
 

I consider myself a hedger - I've hedged my bets and put half my spare cash in AUD and half in GBP.

Re: Pound - AUD exchange rates
 

If you could guarentee 2.50 in 4 years and you didnt need it then i agree its a good option, but the chances are you will need money before then and could get caught short!!

Re: Pound - AUD exchange rates
 

HiFX are currently offering me 1.9872 to transfer up to £10,000 (AU$19,872).

- CDM

Re: Pound - AUD exchange rates
 

Well I tend to agree with the sentiment in this article :

http://www.timesonline.co.uk/tol/com...cle6737848.ece

It will be a very long time before the £ is as strong as 2.5, if ever. It will be range bound between 1.80 and 2.20 for a very long time.

A couple of interest rate rises and good economic announcements in Aus will easily make the $ stronger.

Re: Pound - AUD exchange rates
 

Look at the end of the day you all have not got a clue what happens happens.

Re: Pound - AUD exchange rates
 

Is the calc on HiFx front page accurate?
if so.....£10k today is $20173.2571 AUD

Re: Pound - AUD exchange rates
 

I just checked what an online tansaction for £10,000 would end up netting me and it comes to 19,860.00.

- CDM

Re: Pound - AUD exchange rates
 

Re: Pound - AUD exchange rates
 

My opinion is this:
1. AUD is very much influenced by the price of copper and iron ore. Does anybody think that the demand for raw material will go up?

2. The Reserve Bank of Australia is rhinking about hiking interest rate, when many developed nations are unable to do so.

All that means AUD will only get stronger.

Re: Pound - AUD exchange rates
 

If you follow the link about the rate that's shown on the front page, it states the following:

All rates shown are based on today's Interbank rates. This is the rate at which banks and brokers buy and sell money to each other. Private individuals and small to medium sized businesses cannot access these rates. They are therefore provided for indicative purposes only.

- CDM

Re: Pound - AUD exchange rates
 

Bugger!!!

So is Hifx the way forward ya reckon?
I have posted a new post about the confusion and dilemia im facing with my lack of knowledge in this field:lol:
Appreciate your comments ont here please CDM

Thanks jase

Re: Pound - AUD exchange rates
 

I'm not an expert myself either. I've signed up with HiFX because they have been highly recommended on here in the past and because I've had a good experience with them so far. From what I gather, there's not a lot in it between the different FX companies with regards to who has the best rates. HiFX don't charge fees and guarantee a fee-less transfer (on both sides). They let you transfer up to £10,000 at a go vias their online system so that's what I'll be using to send money to my Westpac account in Oz.

Other than that, I'm not sure what else I can tell you.

- CDM