Pound vs A$
 

Any of you guy's got your ear to the ground as to the short term outlook (say over the next 2 to 3 months) over what the pound will do against the dollar. Hopefully it will strengthen back to something better. Got GBP250k to change...!!

Re: Pound vs A$
 

Not to sure if it will go up or down, but you can get a difference of at least 0.1 depending who you change it with. also remember you will get a better interest rate if you Have the money in oz rather than in the UK.

Re: Pound vs A$
 

Thanks Derek. I'm registered with HIFX and although I'm not urgently looking to change just yet (hense why I can wait 2 to 3 months), I can't wait forever and every 0.1 makes a whopping difference either way. The the other thing to consider also is the rent - which I'm forking out A$1600 per month which aint cheap. :scared:

Re: Pound vs A$
 

WE put our money with HIFX , the agent rang us a couple of months before we was due to leave, it was going to drop dramatically, so he got us 2.55, when we left it was 2.23, im glad we changed when we did it made about 40,000 dollars difference to us, when we got here, we went straight to bank west and opened an account, the money was in 4 days later. Denise

Re: Pound vs A$
 

Yes a 2 or 3 month outlook would be good, even if its not guaranteed. We anticipate a house sale in that time.

Re: Pound vs A$
 

Isn't it impossible to acurately predict what will happen in 2-3 months?

SS

Re: Pound vs A$
 

Our agent did , and he was right, something to do with the interest rates going up over here.

Re: Pound vs A$
 

If you register with monycorp they will send you up dates on what the market is likely to do. Also offer better rates than HIFX.

Re: Pound vs A$
 

Yep, interest rates can and do affect it for sure - but then all you need is a terrorist atack in Oz or the Uk for the rate to change dramatically - that's why predictions are difficult. Oh, and things like hurricanes hitting oil platforms. I get the Moneycorp update daily which is very thorough.

SS

Re: Pound vs A$
 

We've just decided to do a forward contract for £70k which is about a a third of what we want to change once the house sale goes through. The general feeling seems to be that interest rates are going to be cut again in UK with a consequent weakening of sterling. Aussie interest rates look likely to go up, if anything. Both HIFX and Moneycorp were saying to me that in the short term they could only see the £ weakening against the $. HIFX were mentioning a figure of 2.2 :(

We're heading out in January and want to buy a house as soon as we can - we don't really have the luxury of hanging around waiting for the rates to improve. We're hoping that by buying $ in tranches we'll spread the risk - I'm naturally very risk averse so would rather know that we've got some $ already bought at a certain rate.....

Re: Pound vs A$
 

Aren't these updates a bit like surveyors reports? Usually telling you the blatantly obvious without actually comitting to anything?

PS : OzForex beat HIFX & Currency Solutions the other day by almost 2c. Money in my account next day!