About 18 months ago I got out of stocks and shares and have held all my cash in fixed term accounts ever since. Now this made sense when I was able to fix at 6% interest but these are up this Spring.
Given the devaluation of our currency I've been giving thought to shifting my cash abroad. I'm going to Oz in April and am considering trying to get an account set up while over there. I can use a friends address and I still have a (probably classed as dormant) current account from my year out.
This works in practical terms but I was wondering what the general consensus was re the Aussie dollar? Ideally I'd buy US$ but practically I can't see how I can do that.
Any thoughts appreciated.
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