Pound = $ 1-64
Mar 18th 2011, 2:14 pm
#16
not sure...
Joined: May 2007
Location: out in the boonies
Posts: 1,537
Re: Pound = $ 1-64
Hmm, to transfer or not to transfer?! It's not a lot of money but every little helps right?
Tx
Tx
Mar 18th 2011, 6:45 pm
#17
Banned
Joined: Aug 2008
Posts: 22,348
Re: Pound = $ 1-64
moment. Usually a transfer triggers a significant increase in sterlings value leaving me kicking myself. This time it was good to "win" for a change 
Mar 18th 2011, 10:01 pm
#18
Rhino with a big horn!
Joined: Feb 2011
Posts: 3,117
Re: Pound = $ 1-64
Believe me, I wont be splurging on the "winnings", but needs must 
Mar 19th 2011, 2:28 am
#20
BE Enthusiast
Joined: Jan 2010
Location: Perth
Posts: 816
Re: Pound = $ 1-64
I can't see the fixation with the currency, it just seems to me that most are harping on about the past figures. Get over it people - the good old days have gone, and those who was lucky enough to reap the financial rewards well done. But everyone else needs to realise that those days are not coming back any day soon anyway
If you need to transfer funds then bite the bullet and transfer, that or slowly die worrying about nothing you can control, that and starve
If you need to transfer funds then bite the bullet and transfer, that or slowly die worrying about nothing you can control, that and starve
Mar 23rd 2011, 1:35 pm
#21
Melbourne - NE suburbs
Joined: Jun 2008
Posts: 1,032
Re: Pound = $ 1-64
My feeling is it will drop back to the 'normal' rate of 1.60ish soon enough. The current rate jump would seem to be largely as as a result of the FUD from the Japan crisis. How long it will last indeed is the very, very speculative question. Good luck gamblers ;-)
Took a week to go back to 'normal'. Longer than I expected !
Mar 24th 2011, 2:14 am
#27
BE Forum Addict
Joined: Aug 2010
Location: Not Brisbane
Posts: 1,210
Re: Pound = $ 1-64
a fair bit yes.
None of it explains why the strength of the $US affects the exchange rate between the AUD and GBP.
Since 2001 the GBP and USD have fallen 50% against the AUD, yet remained constant againts each other. All this reflects is the strength of the AUD.
Yet what you appear to be saying is that it's not the strength of the AUD but the weakness of the USD that's causing the GBP to fall.
None of it explains why the strength of the $US affects the exchange rate between the AUD and GBP.
Since 2001 the GBP and USD have fallen 50% against the AUD, yet remained constant againts each other. All this reflects is the strength of the AUD.
Yet what you appear to be saying is that it's not the strength of the AUD but the weakness of the USD that's causing the GBP to fall.
Mar 24th 2011, 2:49 am
#28
BE Enthusiast
Joined: Aug 2009
Posts: 576
Re: Pound = $ 1-64
a fair bit yes.
None of it explains why the strength of the $US affects the exchange rate between the AUD and GBP.
Since 2001 the GBP and USD have fallen 50% against the AUD, yet remained constant againts each other. All this reflects is the strength of the AUD.
Yet what you appear to be saying is that it's not the strength of the AUD but the weakness of the USD that's causing the GBP to fall.
None of it explains why the strength of the $US affects the exchange rate between the AUD and GBP.
Since 2001 the GBP and USD have fallen 50% against the AUD, yet remained constant againts each other. All this reflects is the strength of the AUD.
Yet what you appear to be saying is that it's not the strength of the AUD but the weakness of the USD that's causing the GBP to fall.
What I am saying is that a weak USD equals a strong AUD in this case, just try to forget about the GBP part of the equation (that will take care of itself when interest rate rises and the lowering of debt levels come into play).
The reason why a weak USD equals a strong AUD is due to the fact that the AUD is number five on the most traded lists of all currencies and this attracts interest from buyers such as central banks looking to diversify their reserves outside of the US dollar (which is now weak).
Also since Aus has high interest rates in comparison to the US (weak economy generally equals weak dollar and low interest rates) this draws investment in AUD and pushes the price up.
Also since Aus relies so heavily on commodities and commodity prices are priced in USD (and are changed in reverse parallel with the value of the USD) this has effects on the Aus economy and therefore the dollar (a decrease in the USD's value means a commodity prices rise as the USD falls)
That's how I understand it anyway and what i was trying to get at in my previous post, maybe I'm wrong.
Mar 24th 2011, 8:11 am
#29
Thread Starter
Joined: Jul 2010
Posts: 213
Re: Pound = $ 1-64
Good post, may as well delete the thread now,back to sideways
Mar 24th 2011, 8:19 am
#30
BE Forum Addict
Joined: Aug 2010
Location: Not Brisbane
Posts: 1,210
Re: Pound = $ 1-64
No,
What I am saying is that a weak USD equals a strong AUD in this case, just try to forget about the GBP part of the equation (that will take care of itself when interest rate rises and the lowering of debt levels come into play).
The reason why a weak USD equals a strong AUD is due to the fact that the AUD is number five on the most traded lists of all currencies and this attracts interest from buyers such as central banks looking to diversify their reserves outside of the US dollar (which is now weak).
Also since Aus has high interest rates in comparison to the US (weak economy generally equals weak dollar and low interest rates) this draws investment in AUD and pushes the price up.
Also since Aus relies so heavily on commodities and commodity prices are priced in USD (and are changed in reverse parallel with the value of the USD) this has effects on the Aus economy and therefore the dollar (a decrease in the USD's value means a commodity prices rise as the USD falls)
That's how I understand it anyway and what i was trying to get at in my previous post, maybe I'm wrong.
What I am saying is that a weak USD equals a strong AUD in this case, just try to forget about the GBP part of the equation (that will take care of itself when interest rate rises and the lowering of debt levels come into play).
The reason why a weak USD equals a strong AUD is due to the fact that the AUD is number five on the most traded lists of all currencies and this attracts interest from buyers such as central banks looking to diversify their reserves outside of the US dollar (which is now weak).
Also since Aus has high interest rates in comparison to the US (weak economy generally equals weak dollar and low interest rates) this draws investment in AUD and pushes the price up.
Also since Aus relies so heavily on commodities and commodity prices are priced in USD (and are changed in reverse parallel with the value of the USD) this has effects on the Aus economy and therefore the dollar (a decrease in the USD's value means a commodity prices rise as the USD falls)
That's how I understand it anyway and what i was trying to get at in my previous post, maybe I'm wrong.