AUD to £ - back to 2.65 - anyone know why?
Mar 12th 2003 | 12:43 am
#16
Finally made it
Joined: Jan 2003
Posts: 210
From: Perth
Just about to contact the bank to book our AU$100k for bond. Do we wait a day or two or go for it now?
Decisions decisions
Steph
Decisions decisions
Steph
Mar 12th 2003 | 12:59 am
#17
Forum Regular
Joined: Nov 2002
Posts: 105
From: Central Coast - NSW
2.71963 at the minute weird!!
Graham
Graham
Mar 12th 2003 | 1:04 am
#18
BE Enthusiast
Joined: Jan 2003
Posts: 302
From: Dossing with the inlaws
Originally posted by jambo_g
2.71963 at the minute weird!!
Graham
2.71963 at the minute weird!!
Graham
Mine still says $2.6981
Mar 12th 2003 | 1:06 am
#19
Thread Starter
Forum Regular
Joined: Nov 2002
Posts: 261
From: Mona Vale, Sydney
Originally posted by Paul and Steph
Just about to contact the bank to book our AU$100k for bond. Do we wait a day or two or go for it now?
Decisions decisions
Steph
Just about to contact the bank to book our AU$100k for bond. Do we wait a day or two or go for it now?
Decisions decisions
Steph
Its frightening to think that every cent move could cost you £137. Now it's burst through the 2.70 mark, where I would have expected it to stall (with traders setting futures at that psychological mark) - it appears to be on its way up in the short term.
Having said that, I still don't understand why!
Mar 12th 2003 | 1:11 am
#22
Forum Regular
Joined: Nov 2002
Posts: 105
From: Central Coast - NSW
Crazy Stuff!! 
Mar 12th 2003 | 1:32 am
#24
BE Enthusiast
Joined: Dec 2002
Posts: 712
From: Perth WA
Exchange
Still 2.65777
on oanda
loopy
on oanda
loopy
Mar 12th 2003 | 2:05 am
#25
Forum Regular
Joined: Aug 2001
Posts: 176
From: Mandurah WA
We just went for it at $2.705, I'm not going to look anymore!
Sarah
Sarah
Mar 12th 2003 | 3:58 am
#26
BE Enthusiast
Joined: Dec 2002
Posts: 712
From: Perth WA
exchange
Come on house, sell sell sell, quick!!!
Loopy
Loopy
Mar 12th 2003 | 6:06 am
#27
BE Enthusiast
Joined: Oct 2002
Posts: 321
From: Bayside Brisbane
Re: £ Vs $Au
Hey guys,
Watch the good news & the bad click by click as it happens
http://www.forexdirectory.net/gbp.html
Cheers
Doub
Watch the good news & the bad click by click as it happens
http://www.forexdirectory.net/gbp.html
Cheers
Doub
Mar 12th 2003 | 8:24 am
#28
Vaidated member
Joined: Jan 2003
Posts: 88
From: Mid-Wales
Re: £ Vs $Au
Originally posted by doub
Hey guys,
Watch the good news & the bad click by click as it happens
http://www.forexdirectory.net/gbp.html
Cheers
Doub
Hey guys,
Watch the good news & the bad click by click as it happens
http://www.forexdirectory.net/gbp.html
Cheers
Doub
I've bookmarked the site as we're currently waiting for the Oz dollar to go up so that we can transfer some money into our assuror's bank account ready for when ASPC request the AOS
Jayne & Efty
Mar 12th 2003 | 4:01 pm
#29
Forum Regular
Joined: Jul 2002
Posts: 207
From: Tokyo, Japan
Quote from Financial Times today (http://news.ft.com/servlet/ContentSe...=1012571727201):
---
Risk aversion appears to be sapping the strength of the "commodity currencies", which have been among the best-performing of the year.
The Australian dollar, which reached a 49-month high of US$0.617 this month, was at US$0.594 on Wednesday while its New Zealand counterpart was at US$0.548, down from a 46-month high at US$0.566.
With interest rates at 4.75 per cent in Australia and 5.75 per cent in New Zealand, the currencies had benefited from investor appetite for higher yields but, said Michael Metcalfe at State Street Bank, that is waning.
"Our risk appetite indicator has been in risk-neutral territory for seven consecutive days and the correlation between currency performance and yield has turned negative for the first time since September," said Mr Metcalfe, who added that a further rise in risk aversion could send the pair lower still.
"Judging by their correlation with risk appetite in the past 12 months, the Australian and New Zealand dollars would be the most vulnerable major currencies."
----
Cheers,
John
---
Risk aversion appears to be sapping the strength of the "commodity currencies", which have been among the best-performing of the year.
The Australian dollar, which reached a 49-month high of US$0.617 this month, was at US$0.594 on Wednesday while its New Zealand counterpart was at US$0.548, down from a 46-month high at US$0.566.
With interest rates at 4.75 per cent in Australia and 5.75 per cent in New Zealand, the currencies had benefited from investor appetite for higher yields but, said Michael Metcalfe at State Street Bank, that is waning.
"Our risk appetite indicator has been in risk-neutral territory for seven consecutive days and the correlation between currency performance and yield has turned negative for the first time since September," said Mr Metcalfe, who added that a further rise in risk aversion could send the pair lower still.
"Judging by their correlation with risk appetite in the past 12 months, the Australian and New Zealand dollars would be the most vulnerable major currencies."
----
Cheers,
John
Mar 12th 2003 | 4:27 pm
#30
BE Enthusiast
Joined: Oct 2002
Posts: 405
Originally posted by jseni01d
Quote from Financial Times today (http://news.ft.com/servlet/ContentSe...=1012571727201):
---
Risk aversion appears to be sapping the strength of the "commodity currencies", which have been among the best-performing of the year.
The Australian dollar, which reached a 49-month high of US$0.617 this month, was at US$0.594 on Wednesday while its New Zealand counterpart was at US$0.548, down from a 46-month high at US$0.566.
With interest rates at 4.75 per cent in Australia and 5.75 per cent in New Zealand, the currencies had benefited from investor appetite for higher yields but, said Michael Metcalfe at State Street Bank, that is waning.
"Our risk appetite indicator has been in risk-neutral territory for seven consecutive days and the correlation between currency performance and yield has turned negative for the first time since September," said Mr Metcalfe, who added that a further rise in risk aversion could send the pair lower still.
"Judging by their correlation with risk appetite in the past 12 months, the Australian and New Zealand dollars would be the most vulnerable major currencies."
----
Cheers,
John
Quote from Financial Times today (http://news.ft.com/servlet/ContentSe...=1012571727201):
---
Risk aversion appears to be sapping the strength of the "commodity currencies", which have been among the best-performing of the year.
The Australian dollar, which reached a 49-month high of US$0.617 this month, was at US$0.594 on Wednesday while its New Zealand counterpart was at US$0.548, down from a 46-month high at US$0.566.
With interest rates at 4.75 per cent in Australia and 5.75 per cent in New Zealand, the currencies had benefited from investor appetite for higher yields but, said Michael Metcalfe at State Street Bank, that is waning.
"Our risk appetite indicator has been in risk-neutral territory for seven consecutive days and the correlation between currency performance and yield has turned negative for the first time since September," said Mr Metcalfe, who added that a further rise in risk aversion could send the pair lower still.
"Judging by their correlation with risk appetite in the past 12 months, the Australian and New Zealand dollars would be the most vulnerable major currencies."
----
Cheers,
John
Thanks for this info John, have been checking out xe.com all day for NZ$ rate, saw it as low as US$.5435. We just finalized our mortgage refinance today, but forgot we have to wait 4 days to get our equity monies out of it - so we're ALMOST ready to start dealing...
If you come across any more info of this kind, please post it! Just wish I understood exactly why 'investor appetites for higher yields' would be waning. What other options have investors got at the moment that would be preferable to 'higher yields'? Confused here... Thought the whole point was that NZ$ is low risk/high yield at the moment?? Or is it concern that the NZ$ is getting close to its 'ceiling' and therefore despite high interest returns may pose loss when 'converted back' if NZ$ falls?
TA!
