Which is the best website(s) for long term forward currency exchange predictions?
kelfisher asked:
I am looking to transfer UK pounds to Australian Dollars, however, the rate is low at the moment and would like to know the best time to transfer. Does anybody know a good website(s) for long term forward predictions on currency exchange or hear predictions from people in foreign exchange.
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I am looking to transfer UK pounds to Australian Dollars, however, the rate is low at the moment and would like to know the best time to transfer. Does anybody know a good website(s) for long term forward predictions on currency exchange or hear predictions from people in foreign exchange.
Many thanks
August 25th, 2009 at 7:26 pm
Anybody who knew which way the Austalian dollar was going to move relative to sterling would be a very rich person! However, the best indication of what the markets believe is going to happen is the futures market. The link below does not convert directly between AUD and GBP, but it does cover GBP-USD and USD-AUD, so you can figure it out. Look at June’s futures rate, September’s futures rate and compare them to today’s rate. It will give you a good idea of whether you should hang onto your dollars or sell them straight away.