Exchange rate freefall?

[Rosshf]

We are hoping to move to Perth in September (163 visa) and so every day I now look at the exchange rate -- it's becoming a minor addiction. Over the past couple of weeks it's not been a pretty sight. Today the rate is 1.49 AUD to the £. Someone please tell me it's going to rebound soon and climb to a new peak round about September.
The rate can't languish in the doldrums for much longer, can it?

Cheers
Ross

[NeilEB]

Erm....yep, it can I'm afraid.

Interestingly I get an email everyday - it did rebound slightly around Christmas, reaching 1.6, but now is below 1.5 again.

Not sure it'll be increasing any time soon I'm afraid.

But, don't stress too much about the exchange rate - once you're over there it doesn't affect you. You might have a bit less to go over with, but that's about it.

[bensdad]

According to the press over here the aus $ is only going to get stronger against both gbp £ & usd $ it seems to be performing well.

[Rosshf]

But, don't stress too much about the exchange rate - once you're over there it doesn't affect you. You might have a bit less to go over with, but that's about it.

My problem is I'll have a fair bit of dosh to convert into AUD, so small differences are still significant. Maybe the Euro will implode...

Ross

[gingermelon22]

hey ross,

i know how ya feel just before xmas the aus dollar was 1.31 against the euro now it has dropped to 1.23 and getting worse by the day.im hopefull that it will improve but i seriously doubt that it will:(

[PeteDollar]

We are hoping to move to Perth in September (163 visa) and so every day I now look at the exchange rate -- it's becoming a minor addiction. Over the past couple of weeks it's not been a pretty site. Today the rate is 1.49 AUD to the £. Someone please tell me it's going to rebound soon and climb to a new peak round about September.
The rate can't languish in the doldrums for much longer, can it?

Cheers
Ross

Range used to be from 2-3.3 but if you go back to the 1970's it got to 1.1.
As a commodity producing country in a world of rising commodity prices Au$ unlikely to weaken.
Strenthening is a distinct possibility.

Good if you work there, bad your bringing funds in

[NeilEB]

My problem is I'll have a fair bit of dosh to convert into AUD, so small differences are still significant. Maybe the Euro will implode...

Ross

I seriously wouldn't put any hope in it increasing. Plan on it weakening further, and you can only then be surprised.
Only you know the sum of money you're talking about. I've heard of people doing stuff like buying cars, shipping them and trying to sell them, but there's a tax implication in that.

Also, you could take a risk and start converting £'s to AUD now.

TL;DR - I don't think the rate will increase in your favour soon, so plan for the worst and see if it's still viable.

[Rosshf]

Well, 2 months later and we're back to 1.49. Momentary relief that the GBP hasn't completely fallen over (yet). Hoping for a further improvement in the next few months. Anyone got any good news about the GBP/AUD forecast?

[Rosshf]

What a difference a couple of months makes. Exchange rate is at 1.5977 as I type. Anyone got any further insights into the market?

Ross