Sterling V Au Dollar

[Chelseadownunder]

Hi Guys
Looking at the current situation it looks as though (Forgeting bad news coming out from AU or interest rate drops from AU) that the trend is downward at present. This is not meant to be financial advice just an observation using Technical analysis. We might get resistance at 2.04 but if it breaks that...mmm..I would welcome other views on this one. Rents are due on shops in the UK for the next quarter and many are expected to strugle. UK does look a bit doom and gloom at present hopefully SA wont be hit too bad by developments.
Steve

[Chelseadownunder]

Hi Guys
There was a pretty bad move down over night, this may relate to the bank of England decision. The graph still looks very poor and the down trend has pushed through the resistance of $2.04 which the exchange rate has been bouncing up off of recently. This is for info only and not meant as financial advice.
Steve

[jo_marnes]

Eeek - that's crap! £1 = $1.99

Looks like my extra £££s are staying in the UK for a bit!

[Jez0207]

Hi. Have registered with Hifx and Moneycorp. One of them (can't remember which) told me that if we don't exchange our cash until we are in Oz then we are liable for capital gains tax or Australian equivalent. Does anyone know if this is correct? Thanks

[Andrew Williams]

You may or may not have to pay tax here in Oz if you wait for a better rate to exchange, that would depend on a few individual circumstances.

However, let's just say there was a situation where someone had to pay tax, it would only be on the Forex gain not on the whole amout of money transferred.

Therefore tax on a gain is better than no tax and no gain.