Tradefair & Financials
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can anyone opine on the future direction of the Aussie dollar against the pound?
I'm of the opinion that the strength of the dollar is a bubble based on the mines. The problem being I'm not sure how long it'll be until the bust comes?
At some point I need to change a reasonably large chunk of British pounds into Aussie dollars. There's no immediate rush but I'm wondering if it's not better to do it sooner rather than later or face the prospect of it ending up at parity?
Mrben? Any ideas on this?
I'm of the opinion that the strength of the dollar is a bubble based on the mines. The problem being I'm not sure how long it'll be until the bust comes?
At some point I need to change a reasonably large chunk of British pounds into Aussie dollars. There's no immediate rush but I'm wondering if it's not better to do it sooner rather than later or face the prospect of it ending up at parity?
Mrben? Any ideas on this?
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If it ends up at parity i'm emigrating. $15 bucks an hour minimum wage out there apparently.
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There are about 7,000 different minimum wages in Australia. Thanks to the Unions and their Labor Party front organization.
BTW, the AUD is going up due to the carry trade - Borrow Yen/USD/GBP, lend AUD |
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one approach is dollar cost averaging, especially if you have time and the fees aren't much higher. interest rates in Aus might also offset any possible risk.
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Your best bet is probably to buy a mixture of commodities (oil esp. atm) and/or currencies that should appreciate against the pound (Real, Francs, Rupee, Rand to name a few) rather than put all your eggs in any one basket.
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