Progressive Posted July 2, 2015 Share Posted July 2, 2015 “Losing almost a full cent during today’s trading, without any poor data or political events in the UK or Australia to explain it, it seems that the recent highs Australian Dollar buyers were enjoying were purely artificial. The amount of capital flying into the Pound to escape the uncertainty surrounding the Eurozone at the moment is staggering. Sterling has increased in value against all major currencies as a result. However, when such movements are not due to positive economic improvements or due to the opposite in Australia, these can never be sustainable. Essentially these rates are a short-term reflection of market psychology, rather than showing us cold hard facts about the strengths of the relative economies. Today we have already seen a more consiliatory Greek delegation – offering new terms to bring back some much-needed liquidity to the Greek economy. As such some of the less nervous investors are already returning to Europe, embarassed with their overreaction. This has deflated the value of Sterling across the board today, which is why 2.03 (0.49) is visable on the markets once again. As we get closer to a resolution, I fully expect the rates to continue in this direction.” Good luck all, whichever way your money is heading... Link to comment Share on other sites More sharing options...
wolvesaussie Posted July 3, 2015 Share Posted July 3, 2015 Wrong, its going to 2.10 in the next month or two Link to comment Share on other sites More sharing options...
harrygoyal Posted July 3, 2015 Share Posted July 3, 2015 Sorry to say, but I don't agree to your statement... Link to comment Share on other sites More sharing options...
wolvesaussie Posted July 3, 2015 Share Posted July 3, 2015 we will see , I think we will cut interest rate more in Australia that will send the rate up more Link to comment Share on other sites More sharing options...
harrygoyal Posted July 3, 2015 Share Posted July 3, 2015 Yes, as per the governor's statement in past weeks, there is full possibility of further rate cuts. Lets wait for the this month's board meeting... Link to comment Share on other sites More sharing options...
wolvesaussie Posted July 13, 2015 Share Posted July 13, 2015 im right google says 2.10 tonight. Link to comment Share on other sites More sharing options...
jac2011 Posted July 13, 2015 Share Posted July 13, 2015 So happy it's climbed to high! Link to comment Share on other sites More sharing options...
wolvesaussie Posted July 13, 2015 Share Posted July 13, 2015 more to go....I think there is a beatles song. get back to where u once belonged Link to comment Share on other sites More sharing options...
Gough Whitlam Posted July 13, 2015 Share Posted July 13, 2015 Aussie dollar down to 2.10080 to a pound. Who would have believed it 4 years ago? When UK interest rates go up (early next year???) suspect it will hit $2.30 to a pound??? Proof that you should never say never. Just yesterday that people were talking about a 50 year boom in Australia. Link to comment Share on other sites More sharing options...
newjez Posted July 13, 2015 Share Posted July 13, 2015 Aussie dollar down to 2.10080 to a pound. Who would have believed it 4 years ago? When UK interest rates go up (early next year???) suspect it will hit $2.30 to a pound??? Proof that you should never say never. Just yesterday that people were talking about a 50 year boom in Australia. Depends a lot on US rates too. Link to comment Share on other sites More sharing options...
Parley Posted July 13, 2015 Share Posted July 13, 2015 I remember in mid 2004, I converted quite a lot at $2.55 to the pound. Had never taken notice of the rate before then but must have been a great time in retrospect. Maybe it will get back to that level next year. Link to comment Share on other sites More sharing options...
wolvesaussie Posted July 13, 2015 Share Posted July 13, 2015 I have always monitored it, as I lived in Australia and my nan used to send me cheques in pounds for birthdays and xmas . It was always normally in the 2.2 - 2.5 range, got up to nearly 3 a few times over the years, it is still low now. One thing I am not sure about thought is whether it cant go back to what it used to be because UK printed all that extra money when they were in trouble... does that permanently devalue a currency? Link to comment Share on other sites More sharing options...
wolvesaussie Posted July 15, 2015 Share Posted July 15, 2015 2.12 Link to comment Share on other sites More sharing options...
Parley Posted July 15, 2015 Share Posted July 15, 2015 Yes was reading the dollar dropped a lot over night against the $US. Yellen indicated US rates will rise this year and Canada just dropped their interest rates which the market takes to be an indicator that similar economies like Australia may need to cut again soon too. Link to comment Share on other sites More sharing options...
newjez Posted July 16, 2015 Share Posted July 16, 2015 Yes was reading the dollar dropped a lot over night against the $US. Yellen indicated US rates will rise this year and Canada just dropped their interest rates which the market takes to be an indicator that similar economies like Australia may need to cut again soon too. Iron ore prices are being slaughtered. Link to comment Share on other sites More sharing options...
PeepingTom Posted July 16, 2015 Share Posted July 16, 2015 Yes was reading the dollar dropped a lot over night against the $US. Yellen indicated US rates will rise this year and Canada just dropped their interest rates which the market takes to be an indicator that similar economies like Australia may need to cut again soon too. BoE governor has said the UK interest rate rise on the horizon at the end of this year. Link to comment Share on other sites More sharing options...
PeepingTom Posted August 24, 2015 Share Posted August 24, 2015 BoE governor has said the UK interest rate rise on the horizon at the end of this year. crossed 2.17 today... Link to comment Share on other sites More sharing options...
Guest51810 Posted August 24, 2015 Share Posted August 24, 2015 Realistically how high do we think it'll go? Link to comment Share on other sites More sharing options...
srh82 Posted August 24, 2015 Share Posted August 24, 2015 @scottishstacey hold off transferring you money as long as possible. That's my opinion. Link to comment Share on other sites More sharing options...
Guest xmas lights Posted August 24, 2015 Share Posted August 24, 2015 Depends on interest rate moves. If iron ore collapses to $30-35 as predicted by Goldman Sachs and U.S don't increase their interest rates then Australia will be forced to lower their rates to try and mitigate fall in export income. I should think the Aud has a long way to fall yet particularly against the GBP more so than the U.S $. Link to comment Share on other sites More sharing options...
Guest51810 Posted August 24, 2015 Share Posted August 24, 2015 @scottishstacey hold off transferring you money as long as possible. That's my opinion. I don't get paid till Thursday lol. I'm just going to wait anyway so that I can transfer it all at once. I don't fancy doing it in different chunks so I'm just going to wait till the last minute when I've saved everything up. My mums nipping my head though that she's just going to start getting dollars the now but I said no just wait. I think she's paranoid because she once went to get me euros and and it was 1 euro for £1 lol Link to comment Share on other sites More sharing options...
Guest51810 Posted August 24, 2015 Share Posted August 24, 2015 Will it ever get to 2.5? Link to comment Share on other sites More sharing options...
srh82 Posted August 24, 2015 Share Posted August 24, 2015 Who knows. Would be surprised before you travel. Link to comment Share on other sites More sharing options...
Guest51810 Posted August 24, 2015 Share Posted August 24, 2015 Yeah wasn't really expecting anybody to say it would lol. Even if it stays at 2.17 or something like that. It still helps me Link to comment Share on other sites More sharing options...
Gough Whitlam Posted August 24, 2015 Share Posted August 24, 2015 Go Aussie Go Link to comment Share on other sites More sharing options...
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