Anyway to use USD to offset mortgage?

Hi,

Is there anyway to use US dollars that we are holding in a US dollar account with the same bank as our mortgage, as an offset?

I have heard of possibly using a swap with a set date and price of conversion but with the high differential between our interest rates it is pretty expensive.

Just feel like there should be a way to make the most of these funds as currently earning bugger all with US rates and our PPOR mortgage is close to the equivalent of these funds.

Any ideas appreciated?
 
Yeah, the local dollar has gone up again in the last week so not good news for some but you could start making more in the future as some people are predicting the US dollar to go up in value in the coming months. Also, the AU dollar should drop significantly if interest rates come down at the next meeting and that looks likely to happen.
 
Bump!

Do any of the international banks let you use a different currency account to offset an AUD mortgage?

Still feel like I should be able to make use of USD funds to some how offset the AUD mortgage. The risk of converting now and then hoping the currency doesn't fluctuate is not ideal, what is the best product to convert today and convert back in a years time, approx $500k?

Open to all creative ideas... ;-)

Cheers
OG
 
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