Guest Chelseadownunder

UK Pound v Aus Dollar

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    Guest guest4504
    I really hope not...

     

    Me also. Not a pessamist I just know my stuff.

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    Guest Chelseadownunder

    The interest rate rise yesturday in Australia didnt help Sterling. With employment figures due out from Australia this week and bank rate decision due in UK its a busy week. I really hope that we keep the support for Sterling at 1.63. A decisive general election would be such a God send now. I dont know about you guys but the Conservatives are looking a bit too much like Rupperts/ Lar-de-dars/Toffs which I am sure is putting some people off and leading people to the Lib Dem and splitting the vote.

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    Guest BAZnDAF
    The interest rate rise yesturday in Australia didnt help Sterling. With employment figures due out from Australia this week and bank rate decision due in UK its a busy week. I really hope that we keep the support for Sterling at 1.63. A decisive general election would be such a God send now. I dont know about you guys but the Conservatives are looking a bit too much like Rupperts/ Lar-de-dars/Toffs which I am sure is putting some people off and leading people to the Lib Dem and splitting the vote.

     

    I tend to avoid discussions on politics, however, now they have set an election date we will get bombarded by lies and promises that are never kept. Lets face it, Labour got us into this mess, so if they win, nothing will change. If Conservative win, then nothing will change and any problems will be blamed on the previous government.

    Problem is we are tied to europe, and we can't make any major decissions ourselves.

    A point in case is the fisheries, According to the industry, around 880,000 tonnes of fish, are thrown away each year in the North Sea alone because fishermen would be fined if they brought the haul to port. who on earth thought that was a good idea? I hope our grandchildren will forgive us!

     

    I don't trust any politician, but we must vote.

     

    Anyone seeking power should never be given it.

     

    I'm sure there will be a few knocking on the door in the next month telling me how important I am to them. :)

     

    hmmm, thats why I don't talk politics!

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    Guest Chelseadownunder

    Your right Baza, but unfortunately the money market seems to want to see a change in UK politics even if they are full of hot air mate.

    Steve

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    Guest BAZnDAF
    Well said for not talking politics Baz, lol :)

     

    Andy

     

    :biglaugh:

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    Guest BAZnDAF
    Your right Baza, but unfortunately the money market seems to want to see a change in UK politics even if they are full of hot air mate.

    Steve

     

    I think everyone waiting to come over would love to see a change that would strengthen the pound.

     

    fingers crossed :)

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    Guest Chelseadownunder

    At last the UK seems to be addressing the debt problem and this seems to be filtering though to a great rally in the pound. Inflation here seems to be droping while in the UK its rising which should be good for sterling. On the charts the trend seems to be changing from that horrible downward trend and we now have whats called a break out to the upside which hopefully will mean the start of a new up trend.

    This is not meant as financial advice - That is just a phone call away.

    Cheers guys.

    Steve

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    Currently, $1.73 to the £, but both the Aussie dollar and pound are falling against the US dollar, it's just the Aussie dollar is falling faster.

     

    Hopefully, interest rates will rise in the UK, helping the pound and possibly helping the rate to get back closer to 2:1, so I can move my money across.

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    I hope the $ stays where it is against the pound its nice to travel back to the UK with some money to spend

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    Guest Chelseadownunder

    Hi Guys, I am sorry I havent posted for a while as the news has not been good. But there was a glimer of hope today as CPI (Inflation) came in lower than expected for Australia. This may have the effect of keeping bank rates on hold which may see a little rally from the pound v aussie dollar or rather a bit of weakness for the Aussie dollar.

    This is not meant as financial advice but just general comment. We are up to the dizzy heights of $1.62 wooww

    I hope your all enjoying the warmer weather.

    Kindest regards

    Steve

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    Guest Chelseadownunder

    Well guys Australia didnt keep the bank rate on hold and increased it which ultimately led to another drop in the pound. I dont need to tell you its not great at the moment and the stength of the Australian economy doesnt seem to be waivering which doesnt help either. We need more good news from the UK to help the pound. An interest rate rise in the UK could really help the pound but it doesnt look too likely at the moment.

    Cheers

    Steve

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    Guest Matey2

    I think patience will be a virtue. Property investors are starting to sell up to make the most of the price rises as the safety of the future of the house market is in question. They are also removing the proceeds from the country to make the most of the high dollar. Businesses are going bust due to the high dollar and exports are down. The Government will have to make a decision at some point between propping up house prices or supporting employment. When they decide, expect the dollar value to decrease.

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    Guest sunnydays
    I think patience will be a virtue. Property investors are starting to sell up to make the most of the price rises as the safety of the future of the house market is in question. They are also removing the proceeds from the country to make the most of the high dollar. Businesses are going bust due to the high dollar and exports are down. The Government will have to make a decision at some point between propping up house prices or supporting employment. When they decide, expect the dollar value to decrease.

     

     

    Lets hope you are right for all of us waiting to come over in the next year!! At this moment in time I think we will all be bring in over the absolute minimum to survive on until things improve! :arghh:

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    Guest WhatNow?
    I think patience will be a virtue. Property investors are starting to sell up to make the most of the price rises as the safety of the future of the house market is in question. They are also removing the proceeds from the country to make the most of the high dollar. Businesses are going bust due to the high dollar and exports are down. The Government will have to make a decision at some point between propping up house prices or supporting employment. When they decide, expect the dollar value to decrease.

     

     

    Yes and with so much of Australia relying on the tourist industry, other businesses will start to go too. Trouble is, so much is dependent on the stength or otherwise of the US$. We need some definite signs of the US economy starting to recover before any significant or lasting change will happen, I think.

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    Guest Jersey Bean

    Yeah I know this is stupid question... do I change uk money Now or wait?

     

    do you have a crystal ball anyone!! loosing A lot with this exchange rate ?

     

    Cheers Claire

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    Guest Guest75
    Yeah I know this is stupid question... do I change uk money Now or wait?

     

    do you have a crystal ball anyone!! loosing A lot with this exchange rate ?

     

    Cheers Claire

     

     

    Only you can say I'm afraid. The UK will have to pick itself up off the ground financially before any big movement in rate now I reckon.

     

    Interest rates on your savings are good here now though:cute::cute:

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    Guest Jersey Bean
    Only you can say I'm afraid. The UK will have to pick itself up off the ground financially before any big movement in rate now I reckon.

     

    Interest rates on your savings are good here now though:cute::cute:

     

    well gonna have to Change it this month brought a block of land should be built by next July ready for that amazing OVER prised Leccie bill Omg!! great fun down under! lol:nah:

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    Guest BAZnDAF

    This damn exchange rate!!!

     

    When we first decided to get a visa in 2007 the rate was around 1.9 - 2.1Now that we are getting nearer to the time of being able to move its droped to 1.5 So now we are a few thousand dollers short of where we wanted to be. :(

     

    Oh well. Such is life.

     

    B

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    Guest Mark Xpnsit
    This damn exchange rate!!!

     

    When we first decided to get a visa in 2007 the rate was around 1.9 - 2.1Now that we are getting nearer to the time of being able to move its droped to 1.5 So now we are a few thousand dollers short of where we wanted to be. :(

     

    Oh well. Such is life.

     

    B

     

    I know its annoying but there are people who have come off much worse and first decided to come to oz when it was closer to 3 and left their money abroad. As always with currencies its a gamble.

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    Guest kangomik
    I know its annoying but there are people who have come off much worse and first decided to come to oz when it was closer to 3 and left their money abroad. As always with currencies its a gamble.

     

    They were either being very greedy or did not stay in touch with the market.

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    Guest Chelseadownunder

    I hope your all enjoying Adelaide and lifes good for you all.

    Steve

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    Guest Chelseadownunder

    After a surprise interest rate rise on Melbourne Cup day, the Reserve Bank has delivered mortgage holders some relief yesturday by deciding to keep bank rates on hold until at least February.

    The decision comes on the back of economic data out last week showing that the growth in the Australian economy has fallen behind many of the world's advanced economies. Consumer data out last week also showed the biggest drop in retail sales since July 2009. This not so good Australian economy news hasnt had too much of an effect on the pound. We are at $1.60. I will keep watching the situation and update you if the situation changes. Bad Australian data can be potentially good for the pound.

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    Guest Chelseadownunder

    Hi Guys its been a long time since I last made a comment on this thread as I dont need to tell you how alfull it has been for Sterling. We seem to be seeing some suport now at $1.58 and we are now at the dizzy heights of $1.63. As Japan is a major trading partner for Australia (Second only to China in two way trade. Top exporter) the nock on effect to Australia are having a bearing on currency. Inflation figures are due out next week for the UK no sign yet of interest rate rises.

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    Guest Chelseadownunder

    Hi Guys, I had some interesting insight recently regarding exchange rates and the dollar v pound. The investment houses view is that the dollar may well be due a bit of a correction and the pound has potential for an up lift. The reasoning behind this is that in the UK you are better using your money to buy consumables (E.g. tin of baked beans) than putting money in the bank due to the poor rates of interest the banks are paying v inflation. This is a situation they feel cannot continue long term, there is no incentive to save. So we may see a move up for the pound in the medium term. Hopefully this recent break of support at 1.57 will be a short term blip.

    Further to this with the vote in the bank of England going more towards interest rise we may finanlly be getting nearer to the rate rising which could be good for the currency. The vote was 1 for 8 against now its 3 for 6 against a rate rise. I will keep an eye on the situation and add further to this thread as things develop.

     

    This is not to be used as financial advice just a member to member thread.

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