I have over AU$20,000 in savings in an Australian bank account, currently earning me 1.75%.
I am now living in NZ where my savings account earns 3.75%.
In about a year I will be transferring the money to my British account.
I dont know whether I should transfer it over now or wait until the exchange rate is better. I dont really understand exchange rates enough to predict any changes or know how good it is right now.
Does the fact that I'm going to transfer it to my British account in about a year change whether I should just leave it in my Australian account? I believe the currency is usually stronger when converting Australian dollars to the Pound than when converting NZ dollars to the Pound.