seang

Unlikely to be honest. Next Monday at the earliest before anything can be pased and made offical. Who knows what will happen in the interim. Congress dont sit for another 2 days (back Thurday/Friday) as its a jewish holiday (I am not joking). Given the current situation I find this unreal.

Amazulu

Didn't realise that. I think it will happen in some shape or form though. I can see the arguement from both viewpoints.

What a mess.

seang

You are right it will happen. I think yesterday was about posturing by both sides. However taking a "holiday" while this is happening is farsical.

James516

There is so much volatility in the exchange rate it's incredible. 12 months ago it was at $2.45, when we brought our money over in June we got $2.04! Then again, we were only bringing money over as we had managed to sell our house, and a lot of other people are struggling to do that, so we shouldn't whinge too much.

Nickie

Well at the moment it is at 2.245

Reading fan

You probably wouldn't get that rate (the rate on the internet)- that is the rate the banks sell to each other - Moneycorp offered 2.2375 as their peak today.

Twinset

Better than where it was in February.....

Was going to post about feeling pretty nervous looking at the markets last night, and low and behold, all is better the following day - had to laugh at a picture doing the rounds on the internet below:

http://tenpercent.files.wordpress.co...970c-500wi.jpg

Dan the Plumber

how bloody true!!!! Well at least its going in the right direction! I am watching it waiting to pounce then send money across - wouldn't it be ace for it to hit the peak of $3 to the £......!!!!!!

the derbys

when would it be the best time for me to change our money from AUD to Pounds? dont want to lose out on ant money

Twinset

Think the honest answer to your question was.....January, at $2 to pound. The exchange rate has been relatively stable for a couple of months, then people have come out of the Oz dollar into other products, so exchange rate has moved back to more familiar territory of $2.27ish. From a personal point of view, I would also like to see $3 to the pound in around April next year....if you are coming back, you will be wishing for below $2. If you check this link,it will give you the past trends over the last 10 years in CSV format, which you can turn into Excel charts:

http://www.bank-banque-canada.ca/en/rates/exchform.html

From it, you can see that the Oz dollar has been at its strongest for some years recently. I don't even pretend to have a clue which way it is going.

Question is: where is it going to go next?? Which brings me nicely back to the point of this thread: anyone want to hazard a guess at the effect of the US debt deal, or a forecast reduction in UK interest rates?

Twinset

bcworld

Don't forget Aus interest rates are almost certain to fall next week as well, possibly by 0.5%.

Twinset

Guess that might put the cat amongst the pigeons, because there is genuine uncertainty about whether it will happen or not in the UK, with inflation showing no sign of abating.

Twinset

Well,

We were talking 2.25 a week ago, and I have just forward contracted at a lot more than that: sincerly hope for those who are still concerned with this that the rate gets stronger.

For me, just another tick in the box on the countdown....but very happy with rates right now....