Posted by
mat_z
14 yrs ago
Hi,
I am stuck on what to do with sending money back to Australia.
Currently most of my cash is sent back to Australia to pay debts there. The AUD has risen to 1.08 USD in the past months up from .80-.90 a year ago..
It is costing a fair bit now to send money home. I am not sure if its even worth to do or to hold off for a while until the rate comes back down. But will it?
Does anybody have a prediction for what they think the outlook of the AUD / USD exchange rate will be over the rest of 2011.
Thank you,
Mat
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Ed
14 yrs ago
I feel your pain.. i am building a house in Indonesia and getting clobbered on the exchange... I have anticipated the HKD to some extent and bought Rupiah...but not before the currency had plunged over 20%... :(
Always difficult to predict anything accurately... but if Bernanke continues with his quantitative easing program... the US dollar will almost certainly continue to lose value against most currencies... since the HKD is tied to the USD we sink along with them...
Which makes one wonder if the HKD will unpeg at some point... if it does there will not be even the slightest hint...
There is a Fed press conference tonight HK time - Bernanke may give some hint as to what his intentions are when the current stimulus runs out end June...
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Ed
14 yrs ago
Reading Bernanke's Lips
The Fed will explain its April meeting with a statement and an unprecedented press conference. What to listen for today.
http://www.theatlantic.com/business/archive/2011/04/5-things-to-watch-for-in-the-feds-april-meeting/237914/
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MJ1
14 yrs ago
The AUD continues its rise against the USD after the Fed press conference, there's no sign that the US will increase interest rates anytime soon, therefore, the AUD will remain strong. The HKD unpegging or AUD depreciating anytime soon is wishful thinking, I guess we just have to continue to grit our teeth and bear it...but it does sux big time!
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Ed
14 yrs ago
http://www.cnbc.com/id/42810707
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mayo
14 yrs ago
http://www.news.com.au/business/australian-dollar/aussie-dollar-could-hit-us170-by-2014-predicts-money-guru-savvas-savouri/story-fn6t6wad-1226052283978
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mat_z
14 yrs ago
Thank you guys,
Regards, Mat
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