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Member
Posts: 20
| we are taking off to OZ in 44 days. Will the DOLLAR pick up , we haven't moved our funds yet. | |
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Finance Expert
Posts: 12
| Martin Family,
At the moment the trend for the £ against the $ is, unfortunately, a downward one. Whilst the UK economy is coming under well publicised pressure with the continuing effects of the credit crunch, the Australian economy has been performing exceptionally well and has remained somewhat sheltered from the problems in the US and the UK.
The exchange rate has been very volatile, and hard to predict, and there is nothing to say that there couldn't be an upturn in the rate, but the pyschological $2 to the £ mark is creeping ever closer. Although some commentators in the US are predicting a bottom to their crisis in the coming months, the revival is not just around the corner, so it is hard to guesstimate when we will see any light at the end of this long tunnel.
So it is very difficult to decide when the best time is to move your funds across. Many people may not need all of their funds for the first 6-12 months as they will be renting, but 12 months ago the exchange rate was above $2.40!
If you have a target rate you are hoping to achieve, have a lower limit as well....how much can you afford to lose?
I hope this help, but to run through your situation in more detail then please contact the Migration Team at HiFX on 01753 859159, quoting Thinking Australia when you do.
Good luck!
Richard.
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| | All communications contained in this message board are 'information only' and should not be regarded as 'advice'. Only your appointed agent can provide advice as these are the requirements of the Australian Migration Act. You are advised that action taken as a result of any information received that does not come from your appointed agent may jeopardise your migration application.
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will the aussie dollar improve
