Paladin

The more the tension builds towards a US or UK attack on Iran, the more the above are going up!!!!

Paladin

Congrats on house sale Sarah!!

If you get a chance to get a GBP/NZD rate over $2.80, take it and run!!!

Dave

SarahB

Thanks... Its been going through for weeks now Dave.... if you remember I sold my little one bedroom last year and got 3 dollars to the pound. This one we are selling now is my OHs town house. He mentions keeping some if not all of the money over there til the rate gets better.

Paladin

Since I wrote the post $2.74 has been getting a battering - the big boys are testing that support area ready for the next drop! We may get a little profit taking bounce but my money is on that probably not getting past(higher!) than about $2.7650 - where I will be Shorting the hell out of it LOL!

Dave

Paladin

Well my instincts tell me long term the NZD is gonna fall against the GBP so if ya don't need the cash, leave it in pounds!

BTW, cute baby picture! Geez seems like a million years ago my youngest was so little and she's only 16 months old!

Paladin

Oh dear!!! Since my last post the $2.74 support has capitulated!

Down to $2.7350 already - next stop $2.72!!!

Dave

SarahB

We would like to pay off the mortgage here with the money. He's not sure what hes going to do.... obviously we pay a lot of interest every month on the mortgage repayments.... or does he keep the money in UK til rate improves?? ... but then it might get worse.

Paladin

Decisions, decisions! Oh for a crystal ball!! Sure would help in my currency trading !!!

Paladin

OK LOndon market headed to a close: Low on the GBP/NZD pair today was .............. $2.7266 !!!

Maz

Dave, any chance you could give me some history on the US$ vs the NZ$? And some recent trends? How do you think the market is going now?

Thanks luvvie.

Paladin

Its going down!

Have you not read the recent posts on this thread????

Dave

Maz

In plain English. Which one is 'going down' and what does that mean? Will I get fewer NZ$ for my US$? Is that what you mean? Sorry, bit thick where that kind of thing is concerned, as you know and am trying to work as well.

justinthyme

'97 the rate was 71c to the $
'00 down to 39c
'05 back up to 74c
'06/07 down to 60c and back up to 71c

According to http://www.investoolsct.com/currency/free_charts.asp

IMO - The Kiwi is only where it is because of NZs very high interest rates and 'the carry trade' - one day rates will fall and the carry traders will sell the Kiwi - (the £ is in a similar but less exagerated position) - the place to be when the carry trade unwinds will be the low yielders, Euro, Swiss Franc etc. That could be tomorrow or it could be in ten years!!

As for the US$ it appears overvalued but it's a bugger to bet against at this time.

Just my amateur opinion.

Maz

Thanks so much, but which one is the NZ one and which is the US one?

Paladin

Hi Marion!!

First a small apology - in my rush to post an earlier reply & get back to work, I did NOT see that you requested info on the USD vs. NZD (as opposed to the GBP vs, NZD!) - sorry sweetie!

OK - the NZDUSD is how the "currency pair" is listed in the forex market. What this means is that the NZD is the base currency(in any pair, the first currency is always the Base currency, ie in GBPNZD, GBP is the base currency etc) so when you look at a currency chart what you are looking at on the right hand vertical scale is the amount of USD that one NZD will buy. ie the current rate is 0.7125, which means 1 NZD buys US$ 0.7125 or just over 71 cents. So for every 71 US cents you can buy yourself NZ$1.00, so if the rate falls to say 0.70 then you can buy MORE NZ$ for your money(US$).

The long term charts tell me the upside risk is in the area of $0.7460 as a high, but at the moment price is consolidating after a long run up and the technicals are not giving a clear view as to whether its up or down from here in the very short term. If you want my currency trader's gut feeling - I feel a run at the $0.7460 is on the cards! Support (ie a possible low) should be seen around $0.7000 where there is a long term trend line.

Hope that helps a tad!!

Dave
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