AUD exchange rate predictions

Lgamble on 22/08/2013 - 01:49

Hi guys,

this is my first forum post =S I would like to know your thoughts on the Australian dollar in near future because I will be traveling to Japan at the end of this year and I am aware that the Australian dollar has dropped quite a bit since may 2013 as you can see on the graph below (click on link).

http://themoneyconverter.com/AUD/JPY.aspx

Right now 1 AUD buys 88 Japanese yen from 100 yen 3 months ago, and I will be exchanging around $4000 to yen. So should I wait to see if AUD gets stronger or should I make the exchange now before it drops again.

Kindly await your expert opinions =P thanks

Financial

Comments

  • Daabido on 22/08/2013 - 07:10
    +3

    Hang on a sec… Just draggin out my chicken entrails for a quick look.

    In all seriousness, it's hard to know. On one hand the A$ is being buffeted by lower mining earnings and on the other, the Japanese yen should also be headed south due to the huge government stimulus which is designed to crush deflation once and for all, piling massive debt upon an already heavily indebted government.

    My feeling is that the A$ will trend lower faster than the yen, but I am no forex expert.

    • gamble on 22/08/2013 - 22:57

      I'll keep that in mind

  • Ocean on 22/08/2013 - 08:18
    +1

    You would be a rich man if you knew for sure..

    My feeling is the aud will continue to slide against the yen as with the pound and usd. Still if you can change at a local peak it will help. Watch for a bounce to around 90 and go for it. I find xe charts a useful app for tracking

    • gamble on 22/08/2013 - 22:56

      Thanks for the tip!

  • Riczter on 22/08/2013 - 11:07

    Hey I'm going to Japan too. Are you taking a mastercard or visa card or just cash? As per this thread apparently mastercard may not be the way to go :( http://www.ozbargain.com.au/node/114066

    • gamble on 22/08/2013 - 22:55

      thanks for the heads up. I heard Japan is a cash society and ATMs are hard to come by, so I'll be bringing cash with me

  • theworks on 22/08/2013 - 11:53

    If you want to hedge your bets you could put half of it into yen now then no matter which direction it trends youll split the difference minus transaction costs. I wouldnt worry or speculate too much though; at the end of the day its mostly out of your control.

  • shaybisc on 22/08/2013 - 15:46

    Ask George Soros and associates. He is the only one I've seen that is anywhere near right on the AU$. The Aussie financial experts I see make their predictions at the start of every year have NFI.

  • gamble on 22/08/2013 - 22:58

    thanks for the feedback guys, its hard to decide, i am leaning towards waiting out for a couple of months. Will see how that goes =S

  • MAsider on 23/08/2013 - 20:04

    i was having trouble to withdraw money in japan but eventually able to withdraw money from ATM in 7-11 using my citibank plus card…

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