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1.93's A$ to the Pound!!!

1.93's A$ to the Pound!!!

Old Mar 11th 2010, 3:29 am
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Default Re: 1.93's A$ to the Pound!!!

Interesting piece in todays Australian, basically all of the recent improvements in Australia's unemployment figures have now been atributed to the Rudd stimulous package, it was these figures that largely lead the RBA to rapidly increase interest rates recently, a leading cause of the strength of the AUD.

"THE rapid jobs growth of the past five months has come to a halt, with new figures showing it was driven more by the government's stimulus programs than by underlying strength in the economy, as the Reserve Bank believed.

The RBA has relied on the apparent strength of the labour market to justify its rapid run of interest rate rises."


Does this suggest that the expected future rate hikes may be put on hold? If so this could place a little downward pressure on the AUD as the market will have already priced them in?

Ref: http://www.theaustralian.com.au/poli...-1225839785869

Last edited by freebo; Mar 11th 2010 at 3:39 am.
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Old Mar 19th 2010, 5:44 am
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Default Re: 1.93's A$ to the Pound!!!

After a few days respite the pounds getting a kicking again, down 1.2% against the AUD, 1.5% against the USD, and 1% the Euro, now at 1.638AUD.
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Old Mar 19th 2010, 6:18 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by freebo
After a few days respite the pounds getting a kicking again, down 1.2% against the AUD, 1.5% against the USD, and 1% the Euro, now at 1.638AUD.
you can thank a member of the bank of England, bunch of idiots for saying that there was a chance of a w dip, complete Homer Simpson god help us all
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Old Mar 19th 2010, 7:32 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by charlie brown
you can thank a member of the bank of England, bunch of idiots for saying that there was a chance of a w dip, complete Homer Simpson god help us all
Very stupid of them. Apparantly they said that there was a "chance" of a double dip but that it was not very high. Why bother saying it then!
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Old Mar 19th 2010, 7:49 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by 77hil
Very stupid of them. Apparantly they said that there was a "chance" of a double dip but that it was not very high. Why bother saying it then!
they have shorted the pound big time if it rises big money to be lostbut there is no reason to think that any of this is planned
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Old Mar 19th 2010, 9:01 am
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Default Re: 1.93's A$ to the Pound!!!

I nearly fell over when I just checked the pound as yesterday it had been trading at 1.66 (spot rate) yesterday..then 1.63 this morning just because of those comments. They've been talking about double-dip for the UK for ages so why now would this cause the pound to loose 3 cents when we already knew it was a possibility.

There was heaps of good news out of the UK this week and now the pound is back to square one....arghhhh. At this rate we'll be lucky to see 1.70 very soon let alone anything better.
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Old Mar 19th 2010, 10:24 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by koalakim
There was heaps of good news out of the UK this week and now the pound is back to square one....arghhhh.
What like the number of people claiming unemployment benefit going down? except the number of people actually "economically inactive" rose i.e. their job seekers allowance ran out and they gave up looking for a job.

The country is to all intents and purposes bankrupt and printing money to pay its debts, the papers and TV news readers might not realise this but it doesn't matter, because the currency traders do.
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Old Mar 19th 2010, 11:26 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by charlie brown
you can thank a member of the bank of England, bunch of idiots for saying that there was a chance of a w dip, complete Homer Simpson god help us all
Yeah, what a bunch of pillocks
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Old Mar 19th 2010, 1:10 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by paulry
Yeah, what a bunch of pillocks
Another constructive answer but I did disagree about the the thread they had about you.
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Old Mar 19th 2010, 1:43 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by eugene43
Another constructive answer but I did disagree about the the thread they had about you.
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Old Mar 19th 2010, 10:55 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by charlie brown
they have shorted the pound big time if it rises big money to be lostbut there is no reason to think that any of this is planned
Nice to see now that they are getting concerned about the inflationary effect of the low pound. A small interest rate rise may be on the cards towards the end of the year.
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Old Mar 22nd 2010, 5:26 pm
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Default Re: 1.93's A$ to the Pound!!!

What do I know but I reckon that the GBP/AUD exchange rate has bottomed, so I just bought some GBP for our trip to Europe in a few months time. GBP500 cash cost me AUD862 at the Flight Centre forex bureau in Perth. I'll probably get some Euros tomorrow.

Looking forward to a cheap European trip.
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Old Mar 22nd 2010, 9:32 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by Amazulu
What do I know but I reckon that the GBP/AUD exchange rate has bottomed, so I just bought some GBP for our trip to Europe in a few months time. GBP500 cash cost me AUD862 at the Flight Centre forex bureau in Perth. I'll probably get some Euros tomorrow.

Looking forward to a cheap European trip.
and there is me looking forward to my more expensive return to au
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Old Mar 22nd 2010, 9:35 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by Amazulu
What do I know but I reckon that the GBP/AUD exchange rate has bottomed, so I just bought some GBP for our trip to Europe in a few months time. GBP500 cash cost me AUD862 at the Flight Centre forex bureau in Perth. I'll probably get some Euros tomorrow.

Looking forward to a cheap European trip.
Funnily enough so did I this week, I reckon its run its course. £500 won;t last you long though!
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Old Mar 22nd 2010, 9:54 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by EvannTel
Funnily enough so did I this week, I reckon its run its course. £500 won;t last you long though!
i also think that you are right £500 won't last you long, it is not as cheap as you might think, i do giggle when people talk about chocolate at $2.50 and then $.99 cents in woolies, to buy uk £0.60p to£0.65p getting pricey here now, about a 1$ but that can change by the hour.
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