Quote:
Originally Posted by mwm12
Hi
i'm not entirely sure if this is an appropriate post for this forum.
but, I could use a little advice.
to be honest, I would love to NOT be involved with curency trading at all.
but, I live in the US and work for a company in NZ - and I get paid in NZD.
so, i have no choice in the matter.
right now, I have a considerable sum of money in NZDs, sitting in my bank account in NZ.
now, sooner or later I will need to move this money to the us, (I need to eat)but I have enough on hand now to live on for 4 months or so.
so the question is.....
should I move it now...or wait?
any advice would be appreciated as I have NO idea what to do
TIA
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You should move it soon, since NZD will substantially weaken over the next year owing to interest rate cuts and that the US rates have stabilized. However, what we cannot suggest is, what will be the exchange rate next week or even for the next few weeks. NZD is facing recession and they too will bring down interest rates like US has done and could come down as low as 3%, which might send NZD to 0.40 or lower. When a currency is strong just sell it. You should have sold it when it was at 0.80, why wait until 0.60? You lost 25% already.
