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    Thread: The Pound vs Australian dollar


    1. #161

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      Kin Scotish are costing me money as needing to exchange over next couple of days.
      kelbert likes this.
      Thames Migration appointed Jun12, VETASSESS passed July, EoI Aug12, IELTS retake 8.5 Sep12, EoI and 189 visa application Sep12, CO appointed Oct 12, Medicals, Police checks Nov12, Visa Granted 11/01/13. Now located in Brisbane, secured great employment and quickly establishing roots. Yes it really is the lucky country.

    2. #162

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      Same here! I have a little egg that I need to get over here but don't know whether to wit until the Scots have voted!? Waiting has 2 effects the way I see it and that is if they vote Yes the exchange rate will weaken the pound even more and if I don't wait and they vote No I could lose out that they way as well.

      Advice welcome!
      Here and settled

    3. #163

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      Once interest rates start to go up in the UK, which they say will be within the year then the rate will go back up and should go higher than 1.8ish - so I've read/been informed.

    4. #164

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      I'm in the same boat - have my money from selling my house in UK to get over here. Its a nightmare but I'm gambling on the No vote - its gone down too far to back out now

    5. #165

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      I'll be voting No for all of you! We are taking a double hit just now as we are trying to sell our house & will then (hopefully) have £25-30k to transfer! The housing market in Scotland is slowing right down & the exchange rate dropping!

      My biggest nightmare is if theres a Yes vote - 18 months of negotiations with the EU & WM. Where will the £ be during/after that?!?

    6. #166

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      Hi all

      The pound/Australian dollar exchange rate is fluctuating a lot at the moment.

      There is some information in the following link on the different ways you canbuy your currency. These can protect you if the exchange rate moves against youand also you can take advantage if the rate moves in your favour - http://www.pomsinadelaide.com/index.php?pageid=forex


      Might be worth speaking with your Moneycorp Account Manager who can talk thesethrough with you.

      Thanks

      John


    7. #167

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      Thanks John! I will speak to mine tonight a.m. UK time. Do you know if it is possible to do a deal where you agree a rate now but can change the rate say after the Scots vote? What I am trying to say is if the rate is $1.76 now and I agree to this rate but ask them to hold that rate until after the vote. If the vote is a 'No' and the exchange rate goes up I can then take the higher rate? Hope this makes sense?
      Here and settled

    8. #168

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      Quote Originally Posted by Misplaced View Post
      Thanks John! I will speak to mine tonight a.m. UK time. Do you know if it is possible to do a deal where you agree a rate now but can change the rate say after the Scots vote? What I am trying to say is if the rate is $1.76 now and I agree to this rate but ask them to hold that rate until after the vote. If the vote is a 'No' and the exchange rate goes up I can then take the higher rate? Hope this makes sense?
      No problem.

      You can put higher and lower limits in place, relating to the exchange rate, to help you take advantage of any favourable movements and you can also protect yourself if the rate moves against you.

      Addtionally, you can lock into the exchange rate for a period of time however this would also mean you are committed to that rate - there are a variety of different ways you can manage your risk when it comes to international money transfers.

      As every situation is different and everyone has different timelines then best to chat these through with your Account Manager.

      Thanks

      John

    9. #169

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      The pound has today regained some lost ground against the Australian dollar.

      In relation to Scottish Independence, the latest opinion poll conducted by the Scottish newspaper the Daily Record reported a swing back in favour of the No campaign, with 53% opposed to Scottish independence against 47% for.

      Investors remain concerned of the impact of Scottish Independence on the rest of the UK. The British pound is susceptible to volatile price movements, as the market reacts to every opinion poll released, ahead of next Thursday’s vote.

      Additionally, the Australian dollar has been weakened by speculation that both the US and the UK will begin lifting interest rates well before the Reserve Bank of Australia.

    10. #170

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      The pound has experienced intense price swings against the Australian dollar over the past five days.

      Sterling started the week very much on the back foot as last weekend’s YouGov opinion poll sent shock waves through the financial markets. The ‘Yes’ campaign had apparently taken a 6 point lead against the ‘No’ camp, bringing a breakup of the UK closer to reality.

      Further poll results over the last few days now suggest that support for Scottish independence is on the slide, helping the pound to rebound strongly.
      With just six days to go before Scotland’s referendum, investors remain highly concerned over the impact of Scottish Independence on the rest of the UK. The British pound will remain susceptible to volatile price movements, with the market reacting strongly to every opinion poll released between now and next Thursday, and of course to the vote itself.

      The Australian dollar has suffered its own weakness in the foreign exchange markets. The decline is despite of the massive job creation number delivered this week by the Australian Bureau of Statistics, showing that there are now an all-time high 11.7 million Australians in work.

      Although a whopping 121,000 jobs were created during August, almost 107,000 were for part time positions, suggesting the labour market is far from robust. Australia’s mining industry continues to feel the pain associated with the fall in global commodity prices. The desire of the Reserve Bank of Australia to see the AUS$ / US$ rate of exchange decline from its recent ‘overvalued’ level, in order to boost its exports, left the Aussie dollar vulnerable to further weakness

     

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