DownUnderPaddy

It may indeed possibly rally a bit in the very short term due to being a bit oversold alright...

Forex commentary :"The Sterling (GBP) was the exception yesterday as Governor King commented on the possibility of cutting the interest paid on excess bank reserves. The market sold the pound aggressively after the comments hit the wires and trumped positive data released earlier in the day"

ref : http://news.easy-forex.com/daily-rep...090916516.html
and
Wednesday, 16th September 2009
Loose monetary policy and fiscal cuts will prove negative for the pound
http://www.cityam.com/markets-and-in...4i7wdqg3p.html

However, I would tend to agree with the Mindblowers earlier post about it continuing to head for 1.80 in the coming months.

Look at the ongoing trend from the last 6 months (attached)....it is only heading one direction, and that's down.

If that direction is to change, some major change has to occur that would cause that reversal, and there is nothing on the horizon to indicate that happening, at least over the next few months anyway.

If you look at the trend for the ongoing data going back for the last 3 years, it becomes even clearer....

chilliman

Hmmm no house buying for me when I get to Oz for the foreseable future then!

mindblower

I said previously don't get excited until through the 2-09 resistance level.
The revised resistance level is now 2 dollars.

Scary stuff indeed, basket case UK now.

koalakim

Join the gang Chillman - there are a few of us over in Britvicland all in the same boat as well (we have our own exchange rate doom and gloom thread going)...except we are already here and itching to have our own places!

What part of Mellie are you heading for?

Please, please can the UK put out some good news....!

KK

DownUnderPaddy

The irony here is that for many, the bad news was the very reason for leaving.
If the situation did an about turn, causing the exchange rate to improve, would as many people want to leave ?

Food for thought....

JCSUPERMOTO

We are moving over in 6 weeks,so its a poo time to change our money,but what can ya do?...........Well just bite the bullet and get on with ya life and ya cant undo whats happening!

Like paddy said,if the pound was strong that would me uk is doing great,so im sure half the peeps wouldnt be even considering living!

Yeah it sucks that it aint over $2 per £,but it aint,so just change ya money and start ya new adventure,and maybe just bang yor money in a account that will give you some interest back

MartinH

1.89 this morning

mindblower

All because of that "one eyed scottish idiot" !!
Clarkson was right -lol

How could UK re-elect Teflon Tony ??

hanjack

I have no crystal ball and the pound could well keep going down but I will say this.An election is due probably May next year.Like it or bloody not, Cameron is more than likely going to be the new PM.When that happens confidence is likely to return in a big way and the pound (one would think} will begin to climb once again.
I am an Aussie who has lived in the Uk for the last 10 years and the rate couldn't have come at a worse time for me as we are seriously thinking of coming home next year.We have a substantial interest in the pound climbing and if it doesn't, we may have to keep the money in an account over here and rent for a while.Someone in the thread earlier mentioned parity-that gives me bloody nightmares!

mindblower

[![/QUOTE]

The problem is an election could be 7 months off -how low for the pound to fall until then.Maybe spending cuts may stem the flow.

iamthecreaturefromuranus

Sorry mate.. that was me. As somebody who may well think about returning to the UK one day parity would be great for me.....

"One man's meat is another man's poison"

MrCro

1.89.............oh my god!!!!

My visa runs out Jan 2011 so I have to be back before then!!

Bloody finance world, the greedy git bankers crushed all this and we're still feeling the pain whilst they still collect their 7 figure salaries and bonuses!!!

bcworld

Now below $1.89 (1.8892)...obviously not much resistance at $1.90 then!

MrCro

wish I'd stayed in bed this morning!!!

1.88's - Think the name of this thread says it all, it's not long since I thought 1.93 was bad!! That means travel agents will be selling tourist spending money at 1.78 today! Makes a schooner expensive!!!!!!!!!

Unemployment figures just out and risen to 5% in UK.

This may sound weird but having a nest egg to take to Oz is stressful!!!! When I first went to work there at 19 with knack all in my bank account felt great, so looks like back to them days.

If we can find work and earn some $'s then great, it will be like starting all over again but knowing that when exchange rates are better they's a pot of cash to bring over to Oz and enjoy!

Just means won't be buying a house, be buying cheap cars and working to exist.

That's got to have a negative affect on Oz economy in time as the influx of expat money not coming to country and being spent on houses and cars etc must be escalating.

The ever strengthening aussie must also soon start to hinder the economy as export prices go up and tourists will think twice about going or just spend alot less $'s whilst there on holiday!?

Something just has to give here - the £ can't just keep going like this or in no time it would be worthless never mind parity!

eek:

mindblower

:[/QUOTE]

Cycles to everything I suppose.