iamthecreaturefromuranus

Very, very close to the 1.86 range

DownUnderPaddy

Todays Forex forecast....for what it's worth !
http://ibtimes.com.au/articles/20090...x-forecast.htm

"Great Britain Pound: After holding onto 1.6300 against the Greenback during European trade the Pound Sterling bounced back slightly to retest 1.6400 prior to the U.S open. Resistance prevailed however as investors remained cautious about the prospects for the U.K economy following a week of softer than expected economic data, selling GBP/USD back down. Rumoured stop loss selling sees the GBP opening lower this morning with early exchange at 1.6215 and 1.8715 against the U.S and Australian dollars respectively.

- We expect a range today in the GBP/AUD rate of 1.8680 to 1.8780"

themerlin

Look on the bright side, at least your not a member of zimbabweexpats.com posting on the 100000000000000000000000 ZWD to AUD thread

mindblower

When Oz interest rate goes up next month- more bad news for the pound

EvannTel

More than likely already hedged into the rate. As this seems a certainty (in next 3 months) I reckon it'll already be factored in more or less. What will have more of an effect is if it doesn't happen.

koalakim

Reading a couple of articles on Thisismoney yesterday, sounds like the BoE wanted a weak pound....oh well they got it!

Good for exports (if anyone actually exports these days) and tourists going to the UK if they want to visit when it's minus 5!

Thanks Merv.....bye bye nice Aussie house .......Carry On Renting (a film about Poms with worthless pounds)

sr71

Originally I forecast about $1.80 - I think I will revise that to around $1.60 - easily capable of reaching that now I think.

And with the USD, it will exceed parity.

Swerv-o

Excellent. I may order another couple of Laptops when that happens...


S

hereandthere

$1.60 I could see happening easily. The UK economy is smashed to pieces. It's external debt is 9 trillion USD. Australia's is 700 billion, to put that in perspective - getting on for ten times smaller.

bcworld

Currently $1.8686...so just a day late!

Pommie Granite

US, UK, China etc are all big on devaluation. I can see GBP stagnating $1.40AUD by 2011. I may have to put off my move back for a year or so. The points lost on forward contracts are staggering AUD -> GBP. This is all down to the mismatch on interest rates.

Unfortunately, those chasing the AUD down, and procrastinating on their move will also be feeling the other side of the double edge sword in the increase in cost of consumer products in the UK (due to the increasing price of imports).

Only once the UK becomes a competitive place to manufacture/produce, will the GBP strengthen against the AUD. Unfortunately for all 'wannabe-aussies', biding their time before their move, they won't see this in their lifetime.

I can't give advice, but what I would say is the the ship is just pulling away from port. There is still time if you can raise the cash required.

jad n rich

I dont actually think anyone knows where the hell either currency will head. Last year we were following the aussie buckwit and it went totally against all the predictions of experts who claimed it would hit parity with US dollar, it didnt it went down about 25%.

They have no more clue than us really.

All I know at the moment is its making our UK hols really cheap, and getting money out of the AUD while it is so high is tempting, watching a few currencies though due to future plans.

However whatever you do is a spin of the wheel

DownUnderPaddy

and here's their tuppence worth for today, the 22nd...
"We expect a range today in the GBP/AUD rate of 1.8720 to 1.8820"

....but considering its currently 1.868, maybe the daily updates from these guys are always biased to european time.

We'll know by tonight as to how cluey or clueless they are with their predictions, even if only on a 24 hour ahead basis.

Swerv-o

You should get yourself a crystal ball, or maybe some tea leaves...


S

DownUnderPaddy

I agree either of those options would probably be more reliable as a predictor.

For everyone playing the forex exchange game, it really is not that much different from walking into the casino and playing the odds.
If anyone could really predict the market movements and what it was going to do in alignment with a specific transaction, they would be very very wealthy people. Nobody can though, they can only interpret trend data and guess based on upcoming events.

As a result, there are big big winners, but just as many big big losers.
Chance mostly dictates which of these outcomes will apply, just like at the casino