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Guest EllieM

Transferring money back to UK

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    Guest EllieM

    I know this is cheeky and suggests people may be in possession of a crystal ball but was hoping someone might have an idea about this. I need to transfer some money back to the UK and the exchange rate is getting more and more awful. Am I best to transfer ASAP or is it likely this will reverse a little?

     

    Thanks

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    Guest shella_n

    My broker told me yesterday that they think it might drop down to 1.61 but other sources tell me it will drop to 1.85 by the end of the year. Of course none of us know but personally I would not expect it to drop down to the 1.5 level again anytime soon.

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    I know this is cheeky and suggests people may be in possession of a crystal ball but was hoping someone might have an idea about this. I need to transfer some money back to the UK and the exchange rate is getting more and more awful. Am I best to transfer ASAP or is it likely this will reverse a little?

     

    Thanks

     

    For sale, crystal ball, works great............................................... for looking into the past!:skeptical:, depends on when you need to transfer it. In the very short term I personally would transfer today, especially with indications on the OZ interest rate going down again next month and if so would likely send the $ down (but then again it may not!). Or do you wait and see what the election does to it, or watch for the longer term peaks and troughs?

    Your decision and be content that you made the right choice at that moment in time:notworthy:, the 'if only' will always give you either a kick up the backside or a pat on the back!

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