Exchange rate up!!!

[Damms]

Hi everyone

Just a quick note to let all those that have been hanging on waiting to buy Aussie Dollars and been despairing at the increasingly strong dollar that the pound is strengthening, it started late last week and has been increasing all day. It looks like this trend could continue until at least Wednesday which is when some more economic data is releases and then who know what the rates will do.

I have been told that it is more likely to weaken again than to go over 2.40 but who know!!!

Just wanted to help give a heads up to those looking to buy soon or who want to forward buy and fix the rate at what could be better rates than we have seen for a while.

Good luck everyone
Kim

[chippie74]

Im watching this 3-4 times aday...pritty sad really!!!!!!! we fly out in 4 weeks so we are reading to change £-$ over

[Tyke]

I think it is only a temporary increase - the US share market fall last week caused the better exchange rate.

Great for anyone exchanging over this next few days :)

[Angela]

Oh dear Tyke, I was hoping you wouldn't say that.

We to are ready to do some transferring HIFX at the ready......fingers crossed the trend 'up' may continue !

Angela

[chippie74]

still watching...lol

[Roo1]

Thanks for that Kim. Its great for all of us here too who still have U.K bank accounts.

See you soon.

Judi x

[Damms]

Hi everyone

Just to give an update there is a decision due on Aussie interest rates tomorrow night, it looks likely they will go up again, If this happens then the dollar should strengthen against the Pound so If you are looking to buy $ in the short term now may be your best bet. Obviously this is only my opnion and gut feel!! so speak to your FX consultants.
Good luck guys
Kim

[dglamoore]

On their website HiFX are qutoing 2.37 at the moment but would be a better rate with larger amounts :)

Lisa

[Angela]

On their website HiFX are qutoing 2.37 at the moment but would be a better rate with larger amounts :)

Lisa

Yes you would think so Lisa wouldn't you but our consultant laughed when we suggested 2.40$ - perhaps I am doing something wrong !!?? I thought a 6 figure sum would be substantial, but maybe not ??

Have to say I will be speaking to them on Monday. I won't go into any detail but I am now glad HIFX was not my only choice, if you know what I mean ;).

Do continue to keep this post updated though a few of us are in our final weeks left in the UK, so we are 'sad' to when it comes to the exchange rate .

Good luck All
Angela

[Hayshake]

I am also hoping that the rate goes up to 2.40. It went just over the other day, so I have placed a forward order with HIFX at 2.40 so if the rate goes to this whilst I am not watching it will be secured.
I have calculated that on A$600000 which is about what we expect to spend on a house, evry 10cents differrence in the exchange rate equates to about 10,000 pounds!!!!. Quite a difference if I have my sums right.