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    Thread: The Pound vs Australian dollar


    1. #61

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      The Australian dollar has weakened against most major currencies after comments from the Reserve Bank of Australia Governor Glenn Stevens. In his statement, he said that the downward phase of the investment boom in the country is likely to pose significant challenges.

      He also cautioned about a ‘strong currency that still threatens many areas of economy’.

      These comments have led to a weaker Aussie dollar against the pound.

    2. #62

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      Quote Originally Posted by John from Moneycorp View Post
      The Australian dollar has weakened against most major currencies after comments from the Reserve Bank of Australia Governor Glenn Stevens. In his statement, he said that the downward phase of the investment boom in the country is likely to pose significant challenges.

      He also cautioned about a ‘strong currency that still threatens many areas of economy’.

      These comments have led to a weaker Aussie dollar against the pound.
      glad I booked and paid for my holiday in American $$ when i did ...got $1.06

    3. #63

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      Quote Originally Posted by John from Moneycorp View Post
      The Australian dollar has weakened against most major currencies after comments from the Reserve Bank of Australia Governor Glenn Stevens. In his statement, he said that the downward phase of the investment boom in the country is likely to pose significant challenges.

      He also cautioned about a ‘strong currency that still threatens many areas of economy’.

      These comments have led to a weaker Aussie dollar against the pound.
      Yep, it was as frank a warning as you'll ever get from a reserve bank governor.

    4. #64

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      Quote Originally Posted by Keith View Post
      But 12 months ago who knew what the $ was going to do? it was still gaining strength then! who knows what it is going to do in the next 12 months or 60 months as I would guess the $30,000 is not for only 1 visit.
      A good savings account is money guaranteed against hopeful beneficial currency rates! we will all have differing views on how the rates (exchange and interest) may go and each one will be hopeful/biased as to whether you are coming or going. In the end its your money and you will have to decide and be comfortable with your decission.
      I have done many exchanges and I have both pleased and kicked myself, but now I content myself that I believe I made the right choice at that particular time.
      Again I wish you good luck and please let me know if you get some good insider information or your crystal ball supplier!!

      PS. I personnally would not be sending money over now as i think the $ is going to weaken further in the near future, but that is my personnal view only, but who really knows?
      Guys, with reference to my previous post, I confess that having to break off to attend to work problems, It seems that the auto save did not full capture everything and I did not proof read before sending, therefor I would like to edit/correct my personal view as follow-------- I personally think the $ is still weakening and would be looking at sending some money to the UK now (or buying other currency) and I would not be buying Aus$ just yet.

      Sorry about that but it just goes to prove you can not always take what you read as being correct, always do your own research and be content with what you decide.

      I also still have some US$ travellers c'qs I bought when at $1.08, dead money now, no interest, inflation slowly eating away at it, will I make a small gain if sell them now or do I wait for the Aus$ to weaken some more??? should I have cashed them in after my holiday and put in a saving account? Oh hum.

    5. #65

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      The latest currency review is below, thanks.

      In a busy week the US dollar was the top performer, strengthening by one and a half cents against the Aussie and by three and a half against the pound. The Australian dollar was steady against the euro and the Japanese yen.

      The Australian dollar suffered a hit on Tuesday when the Reserve Bank of Australia kept its benchmark interest rate steady at 2.75% and reiterated that "the inflation outlook... may provide some scope for further easing." The comment should not have come as a surprise to investors but they didn't like it anyway. It suffered another on Friday when the US employment data came in much stronger than expected, increasing the likelihood that the US Federal Reserve would soon begin to wind down its quantitative easing programme.

      Although the Aussie lost ground to the US dollar on the news, the pound lost more.

    6. #66

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      The latest Australian dollar review is below.

      Had it not been for the US dollar's even worse performance the Aussie would have found itself at the bottom of the pile last week. It lost more than a cent to sterling and collected less than a cent against the week's biggest loser.

      Investors continue to obsess about the US Federal Reserve, their white knuckles hooked around hair triggers. Last week it was the Fed chairman's promise of "highly-accommodative monetary policy for the foreseeable future" that got them moving, sending the US dollar south as quickly as it had risen seven days earlier. Every currency gained ground against the Greenback but the Aussie's pickings were meagre.

      Some 40% of Australia's exports go to China and the economy of that country is slowing. Investors fancy that reduced Chinese demand will continue to weigh on the Australia's own economy and its currency.

      The latest Reserve Bank of Australia minutes suggest that the Australian dollar was doing enough for now to stimulate the economy – the minutes also indicated a further interest rate cut is unlikely in the short term.

    7. #67

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      Thanks John.
      ------------
      Regards
      Tony
      www.worldofglasscraft.com

    8. #68

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      Personally I feel that there may be worse to come........

      China is doing the right think and from what I see they are doing very well. They are trying to rebalance their economy by turning it from an export dependant economy to a combination of export and domestic demand.

      Euro is in trouble and will continue to suppress world demand. Germany is propping up the Euro for now however elections are approaching quickly and may increase ill feeling towards the med countries.

      UK IS recovering with only earnings holding things back at the moment. These will start to increase shortly (best do as I've not had an increase in 4 years!) simply to keep up with inflation, house prices etc. Economy is better balanced than previously however this now gives good reason to suppress the £ to help exports but not my pocket if transferring funds!

      USA the worst to last! I personally do not beleive you resolve a huge national debt problem by producing more and more money to devalue the currency and therefore the debt. Inflation will potentially become run away and it is only because the us$ is the workds currency that they get away with it. USA has major problems and we would not invest long term in US investments. USA is also riding the crest of a very cheap energy wave with large oil finds and fracking for gas......their energy is almost free! At the moment USA is feeling very good for itself like a financial drug high, lots of cheap money, loads of cheap energy and a currency which is holding its own (just) against global currencies which are weak or intentionally being held back. Like all highs, they are usually followed by the lows!

      Australia is in a great position compared to most, it has natural resources, a highly trained and young workforce and potential only bettered by some of the BRIC economies although they need to be run much better than currently to realise their potential. Australia has been going through a high and yes tougher times are likely ahead however long term i beleive things continue to look good.

      S
      Thames Migration appointed Jun12, VETASSESS passed July, EoI Aug12, IELTS retake 8.5 Sep12, EoI and 189 visa application Sep12, CO appointed Oct 12, Medicals, Police checks Nov12, Visa Granted 11/01/13. Now located in Brisbane, secured great employment and quickly establishing roots. Yes it really is the lucky country.

    9. #69

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      Cheers John, some encouraging data from the UK this morning seems to have helped the pound a little too.
      Angus 33 - Regional Manager Pharmaceuticals/Medical, Kate 34 - Primary Teacher, Logan 5, Jacinta 3 , Vetassess applied 10/01/2012 Approved 28/02/12 IELTS 9/9/9/9 9/2/12 Applied SA SS 5/3/12 SS offered 1/4/12 176 Visa applied 12/4/12 CO Assigned 21/4/12 176 VISA Granted 16/05/2012!!! Reccie 23/3 - 9/4/13 LOVED IT!​BIG MOVE - 8/1/14

    10. #70

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      Quote Originally Posted by guspjmh View Post
      Cheers John, some encouraging data from the UK this morning seems to have helped the pound a little too.
      Yes, some good news for the pound this morning.

      UK unemployment falls by 57,000 to 2.51 million in the three months to May.

      Minutes from Mark Carney's (new Governor of the Bank of England) first monetary policy meeting were released this morning – these showed he voted against more quantitative easing.
      Last edited by John from Moneycorp; 17-07-2013 at 10:02 AM.
      guspjmh likes this.

     

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