What's your prediction on the Australian Dollar?

[leadman]

worrying when the dollar is closer to the 0.88 than the 1.02 - 1.05!!!!

 

[whatmeworry]

Looking at a chart from last night and the sudden drop when the yanks announced a stop of QE.

 

[JohnK]

This morning the Aussie has increased by a ratio of 3.5% against the greenback compared to the the low earlier this week of 93.3¢.

It is down again isn't it?

My trip is only a few weeks away and I still need to purchase further flights and accommodation.

 

[jetlagger]

It is down again isn't it?

My trip is only a few weeks away and I still need to purchase further flights and accommodation.

Same situation....

 

[blackcat20]

I caved and changed over some $$ today; it's looking rather like its only going to get lower on the coming days/weeks...

 

[Foreigner]

The AUD has hit 0.9162 already. Predict it to test lower level soon.

 

[Flashback]

The AUD has hit 0.9162 already. Predict it to test lower level soon.

AUD/GBP Rate: 0.5960

Yikes!

 

[chrisbris]

The AUD has hit 0.9162 already. Predict it to test lower level soon.

Ekkkk - lucky I prepaid for most of my August trip to the USA in May - but now worried about spending money - maybe I should load money onto a travel card tonight - not sure if it will bounce back a bit tomorrow

 

[Hvr]

They've made a video about where it's heading:

Status Quo - Down down 1975 - YouTube

Sadly this looks like it'll be the status quo for awhile.

Get down deeper and down
Down down deeper and down
Down down deeper and down
Get down deeper and down

 

[wiz]

It's funny how when the Aussie drops, it tanks, and when it recovers, it does so very gradually. It goes to show you there must be a lot of speculative investment sitting in the AUD... Also, I read that a lot of forex traders were being margin called because there were huge amounts set up in long positions. As the AUD made it's dramatic fall, these position were margin called, and this in turn removed key support levels, meaning that the floor opened up beneath the Aussie...

I don't things will settle down until it reaches $0.80.

___________________________________________
My travel blog: vacationkickbacks.com/destinations

 

[JohnK]

Same situation....

It is really looking poor now.

Looks like September/October trip will also be affected.

 

[Oneworldplus2]

It is really looking poor now.

Looks like September/October trip will also be affected.

Why didn't you book it in earlier?

Blind Freddy could see this coming John

 

[JohnK]

Why didn't you book it in earlier?

Funds? Don't want to lock in too early. Also did not think it was going to drop this much.

I have not seen the AUD->THB this low for over 4 years.

 

[cove]

The exchange rate is still really good.

 

[sumthinfornuthin]

The exchange rate is still really good.

all relative

 

[JohnK]

The exchange rate is still really good.

Compared to what? When the AUD was USD0.48?

Parity or better than parity is where it really belongs. Just wish the Reserve Bank would stop fiddling with interest rates.

 

[wafliron]

Firstly, I apologise if the following has been comprehensively answered previously: I have had a look (albeit a fairly quick one), and have read a few opinions, but nothing I'd call comprehensive / concrete.

I have a number of overseas trips coming up over the next 12 months - Europe x 1, Japan x 1, USA x 2 - and the fall in the AUD has gotten to the point where it's starting to spook me, and I'd like to "lock in" some of the funds I need for these trips at current exchange rates. Before anyone jumps on me about currency speculation, note that I'm not trying to "beat the market" here - I well and truly recognise that if that happens, it will only be through luck. This is more like an insurance policy - if I lock in current rates and the AUD rises then I'm OK with that, but if it falls I'll be annoyed/disappointed/whatever and am happy to pay a premium (to a point) to avoid that.

So: taking into account spread, fees (deposit, withdrawal, and monthly), etc, what is the cheapest way to buy and hold some EUR, JPY and USD for ~12 months? USD is the most important to me to be able to "lock in", and EUR and JPY about an equal second (mentioning this in case answers only apply to some of these currencies). Currency amounts involved are approx $5k USD, $2k AUD equivalent in JPY and $2k AUD equivalent in EUR, so nothing huge.

Convenience is a factor, too - I don't mind a bit of running around to achieve the desired "rate lock in", but I'm not willing to jump through too many hoops. And having access to the cash in a way I that I can use it to pay for expenses online in advance (e.g. hotels) is an advantage too - e.g. Visa/Master debit card? - but not essential. Finally, being able to load via a points-earning CC is a bonus, although I realise unlikely (hey, this is AFF ).

Some friends in a similar circumstances are using a CBA Travel Money card, but I'm sure we can do better than that

Thoughts? And thanks, in advance.

 

[Awesom Andy]

Given those currencies have virtually zero interest anyway, you might just as well go exchange for cash when the rate suits, at the place that gives you the lowest fees.

 

[footy99]

Check out HSBC Premier wafliron. Easily the best spreads I have encountered. Multiple currency accounts or free accounts set up in the various countries and currencies each with their own visa debit cards to use just like you would your bank and card in Australia. Includes Mastercard cc linked to QFF.

There are probably other banks with similar perks but that is the devil I know.

 

[amaroo]

The exchange rate is still really good.

Yes. It's a bit like interest rates.......some people think 6% is high. LOL - try paying 17.5%