Guest Mike C Posted March 11, 2009 Share Posted March 11, 2009 In a week the exchange rate has gone down from 2.25 to 2.12, does anyone have any idea if it is going to rise / fall? I have searched the internet for info regarding the predicted future rates, but can't find anything that really helps. Back in October the rate was about 2.55 - I wished I had changed my money then. Link to comment Share on other sites More sharing options...
Guest Mylady's O/H Posted March 11, 2009 Share Posted March 11, 2009 As to the prediction no one can say.If the Uk prints new money it will certainly not help and we could see it slide further down.Things dont look good for the near future.There are just too many factors involved and even the experts get it wrong. All we can do is hold thumbs. Goodluck Link to comment Share on other sites More sharing options...
Guest Scamp1976 Posted March 11, 2009 Share Posted March 11, 2009 Farce interest rates, huge sums of money being printed, ****ed up economy... It's not the Ozzie dollar going up , it's the Pound sinking faster than any other currency. I don't see it going up anytime soon, why would anyone want to buy Pounds ?... you get 0% interest, you lose forex on it... etc Link to comment Share on other sites More sharing options...
Guest the dobbas Posted March 12, 2009 Share Posted March 12, 2009 hi mike the main reason the pound has fallen this week was to do with the government having to take a large stake in lloyds tsb, many investers see this as a signal that the big banks are not yet starting to recover also the bank of oz held interest rates at 3.25%. there is not a lot of figures due out in the near future that will have any affect on currency so it will i think hover between 2.10 and 2.20. the next possible move will be early march when the bank of oz might cut there interest rates making the pound stronger and we will see if the banks start to lend again . the currency markets are all over the place at the moment and the dealers are all unsure what will happen next best to sit tight for the moment i think. dobba Link to comment Share on other sites More sharing options...
KIRK AND CO Posted March 12, 2009 Share Posted March 12, 2009 In a week the exchange rate has gone down from 2.25 to 2.12, does anyone have any idea if it is going to rise / fall? I have searched the internet for info regarding the predicted future rates, but can't find anything that really helps. Back in October the rate was about 2.55 - I wished I had changed my money then. it will drive you mad so stop looking I have to go now warden just about to give my pills & lock the infermary door just remember it will drive you mad, got to go now just remember it will drive you mad, got to go now just remember it will drive you mad. Link to comment Share on other sites More sharing options...
Guest Maroochy Mat Posted March 19, 2009 Share Posted March 19, 2009 GBP to Aus$ exchange rate down to 1.99 in M&S today.....was 2.59 in October last year. I think this is the lowest I have seen it drop. Can't recall ever seeing it slip under the $2 mark. I'm no economist so I would not know where to begin with trend analysis or make informed judgements on external economic factors, but can anyone out there provided an educated guess* on the likelihood of the exchange rate recovering in the next 4-6 weeks? From a purely selfish perspective I need to buy my dollars for the holiday in May. Does entering the new financial year - 1st April onwards - have any significant impact? Any info appreciated. *I also appreciate that given the nature of the world at the mo this really would be a guess Link to comment Share on other sites More sharing options...
Guest the dobbas Posted March 19, 2009 Share Posted March 19, 2009 GBP to Aus$ exchange rate down to 1.99 in M&S today.....was 2.59 in October last year. I think this is the lowest I have seen it drop. Can't recall ever seeing it slip under the $2 mark. I'm no economist so I would not know where to begin with trend analysis or make informed judgements on external economic factors, but can anyone out there provided an educated guess* on the likelihood of the exchange rate recovering in the next 4-6 weeks? From a purely selfish perspective I need to buy my dollars for the holiday in May. Does entering the new financial year - 1st April onwards - have any significant impact? Any info appreciated. *I also appreciate that given the nature of the world at the mo this really would be a guess hi like you say it is very difficult at the moment to predict but this week employment and economic data has pushed the currency down, however the fact that other countrys are starting to consider q.e ( printing more money) this should start to turn things around a little. as the uk may be seen as been ahead of the game. i would wait untill early march as the b o a meet and there rates are predicted to go down which will help the pound. Link to comment Share on other sites More sharing options...
Guest proud2beaussie Posted March 19, 2009 Share Posted March 19, 2009 The problem for the pound is that over the last few years it has become very closely tied to the eurozone which is suffering at the moment on the back of concerns that the ECB hasn't done enough to control monetary policy in the recession and that problems in Eastern Europe will start to hit the EU itself. Quantatative Easing is unlikely to help in the short term as it takes at least a quarter for the market to react to money supply initiatives. Most analysts are predicting a slight bounce early April with the £ to $ rate in the range of 2.00-2.08 but there is stiil the prospect of further downside if Europe contracts even further and if the UK financial system has any further horrors up it's sleeve. Link to comment Share on other sites More sharing options...
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