alextoo

Most of us moving to Aus are glumly watching the £ drop day by day against the Aus$.

Just wondered how much more Aus$ we would have got now if we had joined the euro back when most other countries did?

Anyone done any sums?

pommie bastard

This is a good guess at what the talk is now , I would say that the Euro is one of the few good ideas to come from them across the channel.


THE dollar has opened firmer after continuing to track a surging euro.

At 7am (AEST) the Aussie was at $US0.6493/98, up from 0.6488/93 at yesterday's local close.

The currency hit a fresh 40-month high of $US0.6506 yesterday, breaking through the 0.6500 barrier for the first time since January 2000.

And it could not beat that mark in overnight trade, even as the euro hit a new four-and-a-half year high against the US dollar.

http://www.sundaytimes.news.com.au/c...5E1702,00.html

Don

Yep, GBP/EUR rate is now VERY slightly weaker than the day when the conversion rates were irrevocably fixed so you'd have been a tad better with the Euro. You should be looking at conversion rates for 1 January 1999 rather than 1 January 2002 (when the changeover to new currency occurred).

Not much in it just yet.

Cheers - Don

sundarize

Its not that the Euro is becoming stronger - rather that the US$ is under pressure. Mainly the cost of the war in Iraq, but also poor internal business climate. Interest rate cuts in the US designed to stave off further downturn mean that US$ is less attractive as an investment. Interest rate differential between primary currencies (US$ and £) compared to AU$ means investment is more profitable in AU$ at the moment, hence the rise in the value of the AU$.

..... at least that is what my money-broker mate in Costa Rica says!