Exchange Rate to Drop??

[Guest 2hot4u]

Someone mentioned that we may be heading for a hung parliament and if this is the case the exchange rate is going to drop further:shocked: Is there any truth in this, can anyone help?? We have had an offer made on our house and we don't know if to bring our money over now, if it is going to drop even further then I think we should. Any thoughts?

[Guest Bob Tonnor]

Someone mentioned that we may be heading for a hung parliament and if this is the case the exchange rate is going to drop further:shocked: Is there any truth in this, can anyone help?? We have had an offer made on our house and we don't know if to bring our money over now, if it is going to drop even further then I think we should. Any thoughts?

There is a trillion dollar market centered around what is going to happen in the foreign exchange market and if i could be certain what was going to happen id bet my house on it. There is alot of talk about possible future rate rises in Australia which in normal circumstances is going to make the British pound worth less against the Aussie dollar, however as the euro looks set to implode the British pound might be regarded as a safe haven. The majority of economic forecasters predicted a rate rise last month in Australia which didn't materialize, so there you go, just because the majority say one thing it doesn't mean they are correct. Have you thought about maybe renting out the property? you would probably get a better rate of return on the cash rather just banking it, or maybe you could sell up and move half the cash to Australia and leave the rest in the UK.

Sorry if this didn't help but it is a very tricky question.

 

Good luck

 

Bob

[Guest Singos]

as long as this labour tosser is in charge -YES

 

ahem

[Guest 2hot4u]

Thanks guys and thank you Bob, I think I may take your advise and move some once the house is sold and the balance later. It is so worrying, when we first started thinking of moving over around 6 years ago we could have sold our home and probably lived nearly mortgage free in Perth, now we will be lucky to have enough for a deposit.

[John From Moneycorp]

Someone mentioned that we may be heading for a hung parliament and if this is the case the exchange rate is going to drop further:shocked: Is there any truth in this, can anyone help?? We have had an offer made on our house and we don't know if to bring our money over now, if it is going to drop even further then I think we should. Any thoughts?

 

Hi

 

Recently, the exchange rate has dropped considerably. The general feeling is that with an election coming up, this is likely to keep up the pressure on sterling, until they see the detailed tax and spending plans of whatever government takes power. The major and underlying issue we are facing, in the UK, is the amount of debt we are in. If the fears of a hung Parliament were to come true, sterling could fall even further.

There is no doubt, the pound has fallen to new lows. It has taken an unfair beating. However, a bounce is not out of the question but it is not easy to see how that will happen. With opinion polls closing the gap between Labour and Conservative to almost nothing investors fear that even after the general election Britain's government will be paralysed by indecision, unable or unwilling to tackle the budget gap.

In relation to your own situation, it is important to weigh up the timescales as this is an important factor in how much money you transfer and when.

I would be happy to talk through individuals own situations directly.

Thanks

John

[StraighttothePoint]

Thanks guys and thank you Bob, I think I may take your advise and move some once the house is sold and the balance later. It is so worrying, when we first started thinking of moving over around 6 years ago we could have sold our home and probably lived nearly mortgage free in Perth, now we will be lucky to have enough for a deposit.

 

Come over and rent. Stay in that for a year to learn about the place and make a decision once you are settled and sure. Drip feed your money across based on that tactic. If you get a job(s) here then you start to earn and that can also help you decide on tactics.

 

As for the exchange rate I would bet and say that it will keep dropping for a while yet given the strong Aussie dollar. As to when it turns that is the key but by adopting tactics above the pain may not be so great.

 

Why the rush to get money across and buy? British style? Renting here is like in Europe everyone does it.

[Guest Bob Tonnor]

This little story caught my eye, any thoughts about the Olympics being held in the UK? ABC The Drum - Financial struggles in the 'old world'

 

Bob

[Guest 2hot4u]

Hi

 

Recently, the exchange rate has dropped considerably. The general feeling is that with an election coming up, this is likely to keep up the pressure on sterling, until they see the detailed tax and spending plans of whatever government takes power. The major and underlying issue we are facing, in the UK, is the amount of debt we are in. If the fears of a hung Parliament were to come true, sterling could fall even further.

 

There is no doubt, the pound has fallen to new lows. It has taken an unfair beating. However, a bounce is not out of the question but it is not easy to see how that will happen. With opinion polls closing the gap between Labour and Conservative to almost nothing investors fear that even after the general election Britain's government will be paralysed by indecision, unable or unwilling to tackle the budget gap.

 

In relation to your own situation, it is important to weigh up the timescales as this is an important factor in how much money you transfer and when.

 

I would be happy to talk through individuals own situations directly.

 

Thanks

 

John

 

Thank you John. I know my friend moved their money with your company and were very happy with the service, apparently you saved them thousands on what they would have got through the bank. I read somewhere that if we open a trading account with yourself you can get cheaper flights and extra baggage allowance of 40kg is that correct?