77hil

Before this week St Georges bank estimated that 2:1 will return by the end of the year. The recent falls make this way more likely. During the 80's £ was at parity to the US dollar. It didn't last so I wouldn't be overly pessimistic. Some on here had us believe that by the end if the year the AU dollar and £ would be at parity which was clearly nonsense. I don't see this as a permanent recovery. But give it a year or so and I reckon we'll be back at 2:1.

bcworld

The spike in Oct '08 was caused by a huge event causing great uncertainty in the financial world...A$ got sold off, it always does when people are scared. Things are getting a bit interesting again, it's not impossible that there will be some new reason (a country defaulting, someone decides to leave the Eurozone?) to cause a sell off of the A$ and the rate could easily spike above $2. If I had GBP to sell I'd have a limit order set up...and not be too greedy!

MrCro

We're lucky to have alot of £'s to sell and every cent equals a considerable amount of $'s more.

There's been alot of £ bashing on here with expectation of $1.50 low but really none of us know!

If I was such an 'expert' I would have been selling the aussie vs £ last Thurs at 1.62 on a Forex dealing platform and have made thousands by now but truth is it's so easy to say after the event but so hard to predict b4!

freebo

I'm in a similar boat, I'm also hoping "Call me Dave"'s first budget next month is responsible enough to restablish a bit of onfidence in GBP

gmralston

Thought it would upcurve under tories.[/QUOTE]

Actually the pound is losing value today it's just that the AUD is going down faster, AUD is down to 83 cents, that's a big drop in 2 days

MrCro

It's carry trades unwinding, great for £ vs aussie! I don't really care what £ doing against anything else!

Alfresco

Not too much! Our BTL property mortgage interest is half price at the moment.

mindblower

Well the tories count at least for confidence..not a spiralling 2 trill labour debt.

Dont get giddy, UK in deep poo for another decade, oz safe as houses with resources.

Ahem

ABCDiamond

Interesting how the A$ is staying level'ish with some countries:

Canada
20 May 2009 0.89410 Canadian Dollar
20 May 2010 0.88640 Canadian Dollar -0.86% change

Japan
22 May 2009 74.22320 Japanese Yen
20 May 2010 77.63980 Japanese Yen 4.6% change

But ...
United Kingdom
20 May 2009 0.49990 British Pounds
20 May 2010 0.59110 British Pounds 18.24% change

USA
20 May 2009 0.77080 US Dollars
20 May 2010 0.84730 US Dollars 9.92% change

Welsh Jeff

It's up to $1.75 now any idea when it's going to level out? Hour's, day's or week's????

Lyx

Dunno but I'm watching ot too, n getting excited lol.........

wilf70

Here's a hostage to fortune--it will be 2 to 1 within a month.If the Euro caves in;and I think the cracks are now more than visible[I wonder if merkel will get her Greek plan through the Bundestrat]then it will hit the roof.Sarkozy is less than keen--threatened to unilaterally leave the Euro at the weekend after a row with Merkel.Others are very lukewarm.An article in today's Times basically saying it was a walking corpse because of its internal contradictions such as trying to marry weak southern european economies and those around the periphery of Europe with their more dynamic neighbours.Spain is looking very dicey and Portugal much the same.Ireland is in such a mess it makes me want to weep.If the UK gov't takes clear decisive budget action then that will only add a bigger upward push on the rate.The UK economy is definately pulling out of recession [car production up 44% on this time last year--and without a scrappage scheme]

Welsh Jeff

Wilf70 if what you say is correct then I will have your babies!!!!!!!!

Alfresco

That's a bit bold!

MrCro

me too!!!!

13 cents in a week is great but remmeber we were osing at similar rate to get into 1.60's!

Knew it had to come back - faster the better!