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    Thread: The Pound vs Australian dollar


    1. #51

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      Quote Originally Posted by jim and adel View Post
      Everyone wants the best exchange rate when they move, but be careful what you ask for. Think about why it went the way it did in the last few years and why it's suddenly changing and what this suggests about how the economic situation is changing here.
      It's unlikely to have a huge impact on my industry (pharma), or my wifes (teaching). People will always need innovative medicines, whether the economy is good or not.

      The main reasons behind the AUD weakening are China and the federal stimulus potentially coming to an end, which may actually help again from my perspective by lowering house prices in Oz. I do appreciate that what is good news for me may be bad news for someone else, so will try to reign in my enthusiasm slightly though.
      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

    2. #52

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      Do you not think it was over valued then since 2009?
      Quote Originally Posted by jim and adel View Post
      Everyone wants the best exchange rate when they move, but be careful what you ask for. Think about why it went the way it did in the last few years and why it's suddenly changing and what this suggests about how the economic situation is changing here.

    3. #53

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      Quote Originally Posted by sithewindows View Post
      Do you not think it was over valued then since 2009?
      It's been very high but currencies (unless artificially pegged) find their own level and are worth what the market is willing to pay. Despite all the numbers, economic activity is largely a reflection of confidence, and although there's invariably a lag between what the person 'on the ground' knows and feels and what the figures show, these converge at some point. It was inevitable that the Aus dollar would drop, not only through factors in other countries but because Australian confidence in and of itself is down.

    4. #54

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      The Australian dollar is weaker following minutes released from the Reserve Bank of Australia's policy meeting on June 4.

      In the minutes, the RBA said they were open to further interest rate cuts and that the Aussie dollar could fall further as commodity prices slide.

    5. #55

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      Latest review is below, thanks.

      There was nothing to choose between the Australian and New Zealand dollars. Both fell by more than 2% against sterling and by twice that much against the US dollar.

      A dearth of Australian economic data meant the Aussie had nothing with which to defend itself against the flow of negative sentiment towards all commodity-related and emerging-market currencies. When the US Federal Reserve chairman set out on Wednesday a road map to the wind-down of his $85bn-a-month quantitative easing programme he was not telling investors anything they did not already know but he made it all sound much more imminent and scary.

      The newly-and brightly-illuminated writing on the wall sent equity and bond prices lower and put the US dollar on an upward trajectory. The hardest-hit currencies were those that had gained most benefit from the Fed's QE largesse and had most to lose from its cessation.

    6. #56

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      Latest currency review is below, thanks.

      The Aussie's week was much more satisfying than the previous one had been. It strengthened by half a cent against the US dollar and by a cent against sterling.


      A barrage of expectation management from the US Federal Reserve was successful in persuading investors to tone down their slightly hysterical response to the US Federal Reserve's warning of an end to quantitative easing. The effect was to propel the commodity currencies to the top of the ladder, leaving the "major" currencies behind.

      There was little among the economic statistics to help the Australian dollar. Bank lending to the private sector continued to increase by a worthwhile 0.3% a month and the manufacturing sector purchasing managers' index jumped six points to 49.6, is strongest reading in more than a year. This Tuesday the Reserve Bank of Australia is expected to keep its benchmark interest rate steady at 2.75% but is also likely to hint at a lower rate in the future.

    7. #57

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      We plan to return to the UK for a couple of months as often as possible in the years ahead. We are considering transferring $30000 to a sterling denominated account/deposit as a kitty and hedge against the likely medium/longterm decline in the $/sterling exchange rate. Any advice on possible options to do this as cheaply and effectively as possible would be appreciated. StewartS

    8. #58

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      Quote Originally Posted by Stewarts View Post
      We plan to return to the UK for a couple of months as often as possible in the years ahead. We are considering transferring $30000 to a sterling denominated account/deposit as a kitty and hedge against the likely medium/longterm decline in the $/sterling exchange rate. Any advice on possible options to do this as cheaply and effectively as possible would be appreciated. StewartS

      Hi Stewarts, we return to the UK usually once a year for 3-4 weeksor so, we did keep our UK bank account, comes in useful when buying gifts for relatives back home, we normally transfer spending money through our internet banking with the Commonwealth Bank, they have a $22 flat fee so the more you send the less % this fee becomes, how there exchange rate compares with others really became irrelavent with the relative small amounts, but our UK bank also charged a fee for recieving the deposits, but we do watch the general dollar/pound rate and judge accordingly.
      However you are talking about quite a large sum here, which may fair better in a good interest savings account here than trying to beat the fluctuating exchange rate, the interest on savings accounts here in Oz are a lot better than the UK at present. I am sure you will get heaps of varied advice on this forum so you either you take some further proffesional financial advice or make your enquiries and research befor you can make your own considered judgement call.
      Good luck
      Ktee likes this.

    9. #59

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      The has gained 10% on the $ this year so I dont think the small amount of interest on savings is really an issue.
      Quote Originally Posted by Keith View Post
      Hi Stewarts, we return to the UK usually once a year for 3-4 weeksor so, we did keep our UK bank account, comes in useful when buying gifts for relatives back home, we normally transfer spending money through our internet banking with the Commonwealth Bank, they have a $22 flat fee so the more you send the less % this fee becomes, how there exchange rate compares with others really became irrelavent with the relative small amounts, but our UK bank also charged a fee for recieving the deposits, but we do watch the general dollar/pound rate and judge accordingly.
      However you are talking about quite a large sum here, which may fair better in a good interest savings account here than trying to beat the fluctuating exchange rate, the interest on savings accounts here in Oz are a lot better than the UK at present. I am sure you will get heaps of varied advice on this forum so you either you take some further proffesional financial advice or make your enquiries and research befor you can make your own considered judgement call.
      Good luck

    10. #60

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      But 12 months ago who knew what the $ was going to do? it was still gaining strength then! who knows what it is going to do in the next 12 months or 60 months as I would guess the $30,000 is not for only 1 visit.
      A good savings account is money guaranteed against hopeful beneficial currency rates! we will all have differing views on how the rates (exchange and interest) may go and each one will be hopeful/biased as to whether you are coming or going. In the end its your money and you will have to decide and be comfortable with your decission.
      I have done many exchanges and I have both pleased and kicked myself, but now I content myself that I believe I made the right choice at that particular time.

      Again I wish you good luck and please let me know if you get some good insider information or your crystal ball supplier!!

      PS. I personnally would not be sending money over now as i think the $ is going to weaken further in the near future, but that is my personnal view only, but who really knows?

     

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