1.93's A$ to the Pound!!!
Sep 16th 2009, 9:06 am
#151
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Re: 1.93's A$ to the Pound!!!
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....
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....
Sep 16th 2009, 9:25 am
#153
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Location: Brisbane
Posts: 4,298
Re: 1.93's A$ to the Pound!!!
?? do currency exchanges have "resistance levels" ?
Of course a stock price has resistance, but a currency chart does not represent the price of a currency... it represents how much that currency is worth, in terms of another currency. Given that there are many traded currencies, how can a resistance level be determined for any single pair? If an exchange chart really had resistance levels, then couldn't you overlay another currency e.g. USD on top of the chart, and see resistance in the same places?
Last edited by asprilla; Sep 16th 2009 at 9:55 am.
Sep 16th 2009, 9:44 am
#154
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Re: 1.93's A$ to the Pound!!!
Great news for Aussies coming to Britain and for all those rose tinted Brits who thought OZ was their paradise and have since fallen out of love.
You would be seriously mad to exchange money now if you are going to OZ. The £ will bounce back eventually, even if its 2012, you just need patience.
You would be seriously mad to exchange money now if you are going to OZ. The £ will bounce back eventually, even if its 2012, you just need patience.
Sep 16th 2009, 9:47 am
#155
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Re: 1.93's A$ to the Pound!!!
Sep 16th 2009, 10:26 am
#156
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Re: 1.93's A$ to the Pound!!!
I am basing it on the history of the two currencies. These things to tend to happen in cycles.
Sep 16th 2009, 10:31 am
#157
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Re: 1.93's A$ to the Pound!!!
The way its been going, i wonder what the remote chance may be that come 2012 there may not be a pound around anymore. There are some in government who would be quite happy to see the euro as the currency in the UK.
Sep 16th 2009, 10:48 am
#158
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Re: 1.93's A$ to the Pound!!!
Sep 16th 2009, 1:35 pm
#159
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Re: 1.93's A$ to the Pound!!!
nobody really knows, these rates just do what they do and you change £'s when best suits you.
These have been very rapid moves downwards but you can get such rapid moves in either direction.
Just takes a shockwave out of America or China and it can change within the blink of an eye.
I just beat myself up daily as never took advantage of rate spike last October!
My wife says I shouldn't but can't halp it!
If only a major US bank would go bust this month!!!??
These have been very rapid moves downwards but you can get such rapid moves in either direction.
Just takes a shockwave out of America or China and it can change within the blink of an eye.
I just beat myself up daily as never took advantage of rate spike last October!
My wife says I shouldn't but can't halp it!If only a major US bank would go bust this month!!!??
Sep 16th 2009, 2:02 pm
#160
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Re: 1.93's A$ to the Pound!!!
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
What part of Mellie are you heading for?
Please, please can the UK put out some good news....!
KK
I will be stopping in Seaford initially (thanks to Kate for helping sort that out) & will be working in Rowville.
To make matters worse I could've done a deal at 2.61 in October but if'd, but'd, maybe'd ... !!!!
Anyways said it before, will say it again ... "the past is for reference not residence" & I do now have a good job to go to!!
Sep 16th 2009, 3:33 pm
#162
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Re: 1.93's A$ to the Pound!!!
i wonder what the remote chance may be that come 2012 there may not be a pound around anymore
Sep 16th 2009, 9:17 pm
#163
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Location: Brisbane
Posts: 18
Re: 1.93's A$ to the Pound!!!
Does anyone really have any idea where it is is going to end up with so much uncertainty in the current economic climate. Personally, I'm not shifting anything over until it gets to the loftier heights of around 2.5, which means I should be waiting a couple of lifetimes. 
. it has not been 2.5 for ages . Mostly used to sit around 2.2 - 2.3
Sep 16th 2009, 9:42 pm
#164
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Re: 1.93's A$ to the Pound!!!
mmmm does matter to me how much the pound goes down still not moving back to the uk . Money is not everything. Uk is still going down the toilet.
I have 1 son and anther child on the way . I think, no i am sure Australia is alot better country to bring my children up .Never mind the money . The way of life, weather , people, the outdoor lifestyle , and the feeling the government is not trying to rip you off every minute
As for tax , i feel that i am paying less tax as i was in the uk . I have a company car here and had one with my job in the Uk and in the Uk they shaft you if you have a company car where as they don't in the Aus. But also in Aus you have to do your tax at the end of each year, which this year my wife and myself got $7000 back from ATO. Did not get that in the UK
At the end of the day pretty much every country you move to (for the average person ie not a millionaire ) you have to pay tax and everyone thinks the government is a bunch of idiots. So you might as well pick somewhere where the weather and views are nice
Sep 16th 2009, 9:50 pm
#165
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Re: 1.93's A$ to the Pound!!!
But allot of the reason the pound was pretty much the strongest currency in the world was because the was not much of it . But most of the reason for the fall in the pound is because the Uk has been printing more money to sort their mess out . So the question, based on this is will it ever go back up . No not Unless the government pull that money back out of the world economy , and therefore make the pound a rarer currency again . Back to basic supply and demand
