Darren&Leanne

We are just about to purchase some oz dollar thru Hifx but does anyone out there in the land of Expats have any idea if the rate is still going to fall or maybe go up?

Its the same dillema..Do we buy now and then watch it go up or do we wait and watch it fall.

Any help would be greatly appreciated.

Darren

Hels

Hi Darren

I asked the same question yesterday on here.....with the hope someone would give me some kind of an idea...

But, and they were right, no one has a crystal ball....Its a tough call and its the decision that is giving me the sleepless nights....It can make such a huge difference.

I think we have decided that we are going to wait till we go and just take whatever rate it is when we sell the house and have the money and be happy with it....Got too much other stuff to not sleep over...

Good luck tho

Hels

martywild

I had the same dilemma a few weeks ago. Some of my funds became available and needed to decide whether to buy or not. The rate had touched 2.70 (inter-bank rate) a few days earlier but had dropped to 2.60. Talked to HIFX who obviously wouldn't be drawn on the likely direction of the rate. In the end I decided to forward contract there and then and took 2.5850 (the interbank on HIFX was 2.6050 just to give you an idea of what they will actually offer you!).
Anyway, glad I did now as I guess I'd only get c. 2.54 now.

The only advice I was able to get from my HIFX dealer was "don't be greedy" and "the rate is as likely to down as up"

steandleigh

We were the same, ummed and aahed for a bit, kept a close eye on the rate and got $2.62 in the end. ( interbank rate was around $2.65 ).

No-one really knows, even the slightest change around the world can affect rates, just dib in when you feel the time is right.

Good luck.

MikeStanton

I read a report from one of the Big banks a couple of weeks ago. Their 'view' (a banking term for a guess) is that the £ will strengthen against $A until end-July/early August, perhaps going to 2.5 - then the $A will strengthen to about 2.6-2.7.

Just one bank's view...

Darren&Leanne

Just purchased at $2.54.
At least thats another weight off our shoulders.

Watch it go skywards now

Thanx for all the replies

Bordy

Ive a feeling you did the right thing. Good luck.