I used to work in Australia as an expat but since have moved back to Germany with no intentions to return.
In my depot I have a 35,000 AUD iShares Core S&P 500 ETF (IVV.AX) position including 5-digits unrealized gains. The position is untouched since 2018 (introduction of the UCITS regulation) and I don't need that money now or in the near future.
Since the Euro is at the moment weakening compared to the Australian Dollar I was thinking it would be a good moment to sell the position, convert the AUD to EUR and buy a Euro ETF like iShares Core S&P 500 UCITS ETF USD (Acc) (SXR8.DE)
The tax on the gains apart and of course the uncertainty of how the currencies move in the future, do I miss something that makes it a bad move at the moment? Considering that I "have" to do it eventually.
