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ozziepom

Australian dollar dives as Westpac forecasts cut to interest rates

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Australian dollar dives as Westpac forecasts cut to interest rates

 

OK, so 1.07 US and 1.51 GBP is hardly a dive but expectations seem to be shifting from higher interest rates to lower ones, while higher rates may be forced on the big Western economies and those waiting for a better time to exchange pounds may still be in for a very long wait - no-one knows. One thing that can't be argued is that this a big change in sentiment from a few months ago.

 

Mods - consider not moving this to money & finance as very few people read that and exchange rates are important to a large number of people.

 

Of course no paper currencies are really rising, they're just sinking against real money at different rates :wink:

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Was wondering why £ increased to Aus $ on Friday as I couldn't find any news on it, so thanks for this. It did recover slightly by end of day but let's hope Westpac predictions are right!

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Australian dollar dives as Westpac forecasts cut to interest rates

 

OK, so 1.07 US and 1.151 GBP is hardly a dive but expectations seem to be shifting from higher interest rates to lower ones, while higher rates may be forced on the big Western economies and those waiting for a better time to exchange pounds may still be in for a very long wait - no-one knows. One thing that can't be argued is that this a big change in sentiment from a few months ago.

 

Mods - consider not moving this to money & finance as very few people read that and exchange rates are important to a large number of people.

 

Of course no paper currencies are really rising, they're just sinking against real money at different rates :wink:

 

You nearly gave me a heart attack when I saw 1.151 - thanks god you had it the wrong way round! Phew!

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Guest VickyMel

Thanks OzziePom

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Hope not before I've got my next term deposit in place!

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You nearly gave me a heart attack when I saw 1.151 - thanks god you had it the wrong way round! Phew!

 

Its not so much the wrong way round, just that maybe you're used to seeing AUD/GBP and I was quoting GBP/AUD.

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I'm not too sure about the title - 'Aussie dollar dives!'

 

You could change it to 'Aussie dollar sticks it's toe in to test the temperature!'

 

Still - it's a move in the right direction for us.

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I'm not too sure about the title - 'Aussie dollar dives!'

 

You could change it to 'Aussie dollar sticks it's toe in to test the temperature!'

 

Still - it's a move in the right direction for us.

 

Agreed but its not my title - its a direct quote from The Australian newspaper, I also mentioned that so far its hardly a dive at this stage and it could be a long time before rates are attractive for folk changing pounds to dollars - no-one has a crystal ball but this is a huge change in sentiment from all of the newsflow for the past couple of years, time will tell if its correct.

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Its not so much the wrong way round, just that maybe you're used to seeing AUD/GBP and I was quoting GBP/AUD.

 

 

I meant the actual digits the wrong way round, not the conversion. 1.15=1.51?

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I meant the actual digits the wrong way round, not the conversion. 1.15=1.51?

 

Fair enough, my typo - I'll correct it if I can edit the post.

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Fair enough, my typo - I'll correct it if I can edit the post.

 

Don't worry, as I said, you nearly gave me a heart attack. I wondered what the hell had happened since I'd been to sleep. :wink:

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