When should we buy dollars?

[Gareth Probert]

My wife and I are looking at arriving in Australia between October and December 2010.

Now I try and keep on top of current affairs, read The Economist and the like, and I'm convinced that Britain is in deep trouble and that pretty soon the pound will crash.

Therefore I'm trying to convince the wife to convert our savings (about £15000) into Australian Dollars ASAP to avoid them becoming worthless. She isn't convinced that we should exchange everything as we lose use of that money for 10 months or so.

I know that there are people on this site that are much more knowledgable about exchange rates and the money markets etc. and I'm asking:

Am I right to convert all of our savings now or should we wait?

Thanks in advance.

[Tyke]

I don't think anyone can give you a definite answer on this Gareth.

No one could have predicted this slump.
Looks like the UK will be weak for a while and Aus fairly strong.
Personally I cannot see the Dollar rate leaping up in the near future.

Ya might just have to bite the bullet.

[Nick11]

IT'S A LOTTERY WHEN CHANGING YOUR MONEY.
Personally I cant see the pound falling any lower - but who knows -we are living in uncertain times.

[adelaidenow]

Nick, it's lower today than ever, what makes you think it won't go lower still...I hope it does ...I am going to UK next week!!

[Nick11]

Nick, it's lower today than ever, what makes you think it won't go lower still...I hope it does ...I am going to UK next week!!

Seriously Matt. We're going back in sept -so might get some money changed. Good news for us but not anyone coming over here.

[adelaidenow]

Yep I am serious, I go next Thursday. I would change money, but who knows how low it will go.