charlie brown

would like to read the article if you can find it thank you

iamthecreaturefromuranus

I think it was mentioned on Sky News yesterday afternoon. Wasn't much more than a throwaway line along the lines of "the market believes the RBA may have stepped in" and that was about it. Heard nothing more after that.


http://zincip.biz/2010/05/20/austral...ba-to-support/

All just guessing

ABCDiamond

The last two days changes to the A$ according to the RBA

-6.25% European euro
-4.78% Japanese yen
-3.95% UK pound sterling
-3.09% Swedish krona
-2.99% Vietnamese dong
-2.99% Swiss franc
-2.99% United States dollar
-2.99% Saudi Arabia riyal
-2.99% United Arab Emirates dirham
-2.98% Chinese renminbi
-2.91% Hong Kong dollar
-2.81% Thai baht
-2.72% Papua New Guinea kina
-2.41% New Taiwan dollar
-2.10% Singapore dollar
-1.25% Indonesian rupiah
-1.21% New Zealand dollar
-0.74% Indian rupee
-0.71% Canadian dollar
-0.65% South Korean won
-0.63% Malaysian ringgit
0.10% South African rand

MrCro

No it's because the US stockmarkets had a half decent day Friday, AUD strength is closely correlated to the S&P which is good gauge of risk aversion.

The experts seem to think A$ will drop as low as 77c against US$ so 6 cents which means £ should pick up another 12cents on Aussie dollar as ratio seems to be bang on 2:1 at the mo.

Seems to be more and more talk of double dip recession and even read 'Global Great Depression' may be the next era!

Double edged sword as I've said before we'd love more $'s to the pound but also want opportunities in Oz and a housing market that won't crash if we buy!

jad n rich

More sword points

Once your money is moved into OZ dollars your also holding your worldly assests in a very very volatile currency, which at times is worth very little against much else. Great if you like roulette not so great if you want to holiday, move overseas again or even have any buying power.

Another thing that will probably zip you off, as the ozzie dollar drops we keep hearing ( already!) how much more expensive everything in OZ will become, amazing as when the aussie dollar is strong nothing becomes cheaper but remains very expensive.

Plus instead of a UK style pension, you face the asset tested OZ pension, and superannuation which is usually invested in the stock market, pension volatility too. However if your self employed you will have to provide your own super/pension anyway

77hil

http://news.smh.com.au/breaking-news...0521-vt3v.html

http://www.couriermail.com.au/busine...-1225869770969

Couple of articles suggesting the RBA did prop up the dollar.

Amazulu

Until (if) the UK sorts it's shit out, I wouldn't be so bullish about the GBP - it went down against the Euro and USD this week.

Cars, electronics etc have come down in price due to stronger AUD.

Most UK pensions - unless you have a final salary one (a dying breed) - are invested in the stock market. If you are self employed who, apart from yourself, should provide your pension?

Les Avalook

That could be good news for Poms waiting to exchange, they can't prop for ever.

Wol

Don't open the wounds <g>. Some of us have had our pensions remitted to Australia from the UK go down by 34% over the last year or so. Swings and roundabouts I suppose - pity you can't choose which!

Lord_Farquar

Am I the only person that is praying for Dollar/Pound parity?

LouiseR

Yes. Please stop!

Basil Brush

I'm with you Lord Farquar, so that makes at least 2 of us!

Stu Ward

hmmmmmmm parity ............................

77hil

Interesting now that one of the only currencies that the £ is rising against is the AU$. Must be bad.

Wishwewerethere

Our garden gets parity, they like the berries you know!