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    Thread: The Pound vs Australian dollar


    1. #101

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      This will always be a difficult one to answer and been talked about many times on this forum, but really in the end you will have to transfer money whether by necessity or by choice, the latter is usually the one where you could kick yourself for not doing it either earlier or later, so really you need to be content with the decision you make at the time. There are many so called experts in the financial field, but they are just like the weather men really! telling you this or that is going to happen but they are only predicting they have no control over it.
      Have a good Christmas and enjoy your flights and new life in OZ next year.

    2. #102

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      Please see a monthly review on the Australia dollar below thanks.

      After a mediocre run the previous month the Aussie excelled itself in October. It rose by nearly four cents against the British pound - more than 2% - and by half that much against the US dollar and the euro. Among the top dozen most actively-traded currencies the Australian dollar was the top performer.

      It all came down to interest rates. Other things being equal, investors prefer to put their money into the currencies with the highest interest rates (proportional to inflation) because by doing so they get the highest return. There had been concern that the Reserve Bank of Australia was inclined to lower its Cash Rate, which sets the benchmark for the rate paid to bank depositors, but the RBA set those worries to rest with its monthly statement in early October. Rates were not about to go down.

      The US Congress also helped things along for the Aussie, in a backhanded sort of way, when a power struggle there resulted in spending cuts which shut down part of the federal government for half the month. Because of the negative impact of that on the US economy investors assumed America's central bank, the Federal Reserve, would delay the wind-down of its economic stimulus. Were it to do so the Fed would continue churning out $85bn a month of newly-printed money. Some of that would find its way directly into the higher-yielding Aussie and some would help increase Chinese demand for Australia's coal and iron ore exports.

      If the Americans helped the Australian dollar higher by accident the Chinese knocked it back with similarly little malice aforethought. When the Beijing authorities decided to dampen their potentially runaway economy by squeezing short term interest rate higher they also scared investors away from Far Eastern stock markets and the NZ and Australian dollars. The logic for investors was that a dampened Chinese economy would have less appetite for Australia's exports and so less demand for the AUD.

      Despite that setback the Aussie still managed to beat every other currency on the block in October. Whether it can do so again in November will depend to some extent on the United States. If the Federal Reserve decides to extend its money-printing stimulus it will improve the Aussie's prospects.

    3. #103

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      The Australian dollar has weakened against the pound.

      Why?

      Growth figures from the US led to speculation that the US Federal Reserve could start tapering its stimulus program sooner rather than later.

      Reserve Bank of Australia lowered its GDP projection.

    4. #104

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      Just transferred about a third of my pounds into dollars. Hoping things will keep going strong, and I can transfer the rest maybe after we get there in January!
      taffs likes this.
      Angus 33 - Regional Manager Pharmaceuticals/Medical, Kate 34 - Primary Teacher, Logan 5, Jacinta 3 , Vetassess applied 10/01/2012 Approved 28/02/12 IELTS 9/9/9/9 9/2/12 Applied SA SS 5/3/12 SS offered 1/4/12 176 Visa applied 12/4/12 CO Assigned 21/4/12 176 VISA Granted 16/05/2012!!! Reccie 23/3 - 9/4/13 LOVED IT!​BIG MOVE - 8/1/14

    5. #105

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      Well done gus, Com bank offering 1.72 today. Ive just done the same.
      guspjmh likes this.
      Visa granted June 2013

      Arriving 2nd January 2014

    6. #106

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      I used a UK based FX company, who are trading at $1.7196 right now - were there any charges with Comm bank, and I assume you have to have an account with them, as mine's with NAB?
      Angus 33 - Regional Manager Pharmaceuticals/Medical, Kate 34 - Primary Teacher, Logan 5, Jacinta 3 , Vetassess applied 10/01/2012 Approved 28/02/12 IELTS 9/9/9/9 9/2/12 Applied SA SS 5/3/12 SS offered 1/4/12 176 Visa applied 12/4/12 CO Assigned 21/4/12 176 VISA Granted 16/05/2012!!! Reccie 23/3 - 9/4/13 LOVED IT!​BIG MOVE - 8/1/14

    7. #107

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      Moneycorp 1.68

    8. #108

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      Quote Originally Posted by coastie View Post
      Moneycorp 1.68
      Don't be too sad there might be still some bank fees from one or both the sending and receiving banks, you may not find out until you check the statements from the receiving bank, making Moneycorp favourable maybe!
      coastie likes this.

    9. #109

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      The latest currency review is below, thanks.

      The antipodean duo headed in opposite directions, the Aussie losing ground while the Kiwi dollar moved higher.

      The Australian dollar lost a cent to sterling but gained a quarter of a cent against the US dollar.

      It was saved from a worse fate by Janet Yellen, the nominee for chairmanship of America's central bank in the new year, who expressed support for the Bank's bond purchase programme which involves printing US$85bn every month.

      Last week, the Australian economic data were of no help to the Aussie. Mortgage lending in September grew by no more than was necessary to cancel out the previous month's fall. Vehicle sales were down, as were consumer and business confidence in Australia.

    10. #110

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      The Australian dollar continues to weaken against the pound.

      Why?

      - IMF comments yesterday that the Aussie dollar was 10% overvalued

      - RBA comments open to another interst rate cut in Australia

      - “Risk off” sentiment continues – negative news from eurozone

     

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