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Strength of Oz dollar

Strength of Oz dollar

Old Mar 23rd 2002, 8:17 am
  #1  
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Default Strength of Oz dollar

I`ve noticed over the last few months that the exchange rate is becoming less and less favourable (gone down from around 2.85 to now only 2.61. As we`re exchanging the money from our house sale, this is very worrying.

Does anyone have any ideas as to what might happen in the next few months?
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Old Mar 24th 2002, 2:35 am
  #2  
Neil Raines
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Default Re: Strength of Oz dollar

Visit your bank and negotiate a forward exchange contract

"Teri Mitchell" <[email protected]> wrote in message
news:[email protected]...
    > I`ve noticed over the last few months that the exchange rate is becoming less and
    > less favourable (gone down from around 2.85 to now only 2.61. As we`re exchanging
    > the money from our house sale, this is very worrying.
    >
    > Does anyone have any ideas as to what might happen in the next few months?
    >
    >
    >
    > --
    > Posted via http://britishexpats.com
 
Old Mar 24th 2002, 4:05 am
  #3  
Stan
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Default Re: Strength of Oz dollar

On the news this morn that the Aussie $ is expected to crack 55c US shortly backed
by the stronger Japanese economy a major buyer of Aussie minerals etc. Buy ya
aussie $ now.

Teri Mitchell <[email protected]> wrote:

    >I`ve noticed over the last few months that the exchange rate is becoming less and
    >less favourable (gone down from around 2.85 to now only 2.61. As we`re exchanging
    >the money from our house sale, this is very worrying.
    >
    >Does anyone have any ideas as to what might happen in the next few months?
 
Old Apr 1st 2002, 5:58 am
  #4  
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Default Re: Strength of Oz dollar

the ozzie is rising. the trend has started. you cannot do much about that now and being a forward exchange contract for an individual is probably not possible and if it were the rate would already reflect the strenghting dollar so not much point - the time to buy was 6 months ago when it hit bottom.

ozzie dollar is a commodity currency and therefore is linked to world economic climate which is improving. gold is rising because of japanese buyers worried about banking collapse and loss of govt deposit protection and also industry consolidation which means less/better managed supply. the dollar is also aided by trade flows and it looks like the annual commodity export pricing with the japs is going to be good for the ozzie this year with increases now expected.

all this points to a strenghting ozzie dollar and would expect it to at least break 60 usc and 40 ukp later this year.
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Old Apr 1st 2002, 10:05 am
  #5  
Craig Welch
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Default Re: Strength of Oz dollar

On 1 Apr 2002 08:35:27 GMT, dugongs <[email protected]> wrote:

    >all this points to a strenghting ozzie dollar and would expect it to at least break
    >60 usc and 40 ukp later this year.

And if you were actually able to forecast in this way, you wouldn't be posting here.
You'd be on the beach in the Caribbean.

--
Craig
 

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