Will the aussie dollar fall any time soon?

I have a substantial amount in USD that i want to convert to AUD.

Do you think there will be any move against the aud any time soon?

 

No !!!.
We may hit parity soon...

 

LOL well it went down today to 0.88

 

It will bounce back up

 

In regards to the Aussie dollar, if it increases in value against the greenback, does it usually increase in value against the Euro as well or is it two completely different markets.

Just wondering.

 

http://www.rba.gov.au/PublicationsA...OnMonetaryPolicy/Boxes/2006/2006_02_b_box.pdf

 

Thanx Tropo.

Although I'm still a little confused

 

Try this link,
Forex articles: How currency exchange (FOREX) market works

 

Just an idea with your US funds.

If you travel and have need for foreign currency, why don't you open a US dollar account?

I kept my Japanese yen in cash as I did not have enough to open a yen account and used in the last 5 years to go overseas. I would have gained if I exchanged into Aussie dollar as Japanese yen went down over that time, but I knew that if I kept my Japanese yen, I would be able to take it in cash and exchange yen into local currency. Had I changed it into Aussie dollar, then later on it would mean converting into local currency again and it would mean that I would pay two exchange fees which reduces the value of local currency by 15-20% as each time you buy and sell currency you pay approx 10% as transaction costs. I did this because it was only a few thousand dollars and couldn't open a yen account.

 

I would if i needed it. Thing is i need this money for a deposit.

 

It depends if I send over some more money or not.

If I send money over there the dollar will go up.

If I don't send money over there it will go down.



PS. I am about to send over some more money

 

Zman

I am not a currency expert but from what I read and
IMHO the US$ is likely to slide further because of the high US debt, and even lower US interest rates, recession fears etc.

However, the AUD may also fall due to global and local economic uncertainty so if they both go down the AUD will probably range around the 85-90c mark.

Cheers

 

Interesting.. how does this affect the Pound Sterling do you think?

I have some cash in London that I need to move to Australia, but the dollar keeps getting stronger.. how long will it be until labor screws things again..!?

I wonder if its worth holding out until we have a sharp fall.. or just biting the bullet and transferring.. I still have a few months up my sleeve however.

 

AUD/USD may hit the 80 US cent mark again.
Cable can slump to $1.80 (current resistance at 1.9520 & support at 1.9350).

 

Brendan

I hate to tell you this but I think our $ will keep on going up.
We have the highest interest rates in the western world.
We have such a solid economy Labour can't stuff it up even if they wanted to.
My only worry is world recession but that will affect everyone including the UK.

Cheers

 

Bill,

I knew that would be the answer.. but secretly hoping someone knew something that no one else did..

Interesting the interest rate scenario, the UK and US are both lowering rates to curb a recession.. yet Australia is raising rates, it doesn't make all that much sense to me..

 

2nd highest, i believe new zealand has the highest rates but we're not far behind. I'm hoping the AUD gets stronger as i want to move some money o'seas in the next 3-6 mths

 

I was listening to Darryl Dixon on the radio last night. I think he stated that one economist thought the rate could be USD1.20 to AUD1.00 in five years. Anybody else hear that?

 

AUD/USD:
All time lowest low = 0.5016 (April 2001)
All time highest high = 1.4855 (March 1974)
Currently = 0.9339