1.93's A$ to the Pound!!!
Sep 2nd 2010, 2:02 am
#2191
Forum Regular
Joined: Apr 2009
Posts: 252
Re: 1.93's A$ to the Pound!!!
Thats really what this thread should be about. A lot of people seem to be sitting on GBPs saying they're waiting for 1.8 or 2 or whatever. People need to wake up to the fact that the UK economy is toast for a while, barring unforseen events (like Cameron finding a tril or two under his matress).
The Aussie economy OTOH is doing good and is riding the Dragon (and no, China won't disappear in a puff of smoke at some point). Christ even if they went into recession they'd still be buying raw materials like crazy.
I guess its pretty safe waiting for 1.8, I'm sure the GBP will touch that at some point, but if youre waiting for 2, you have to have a plan B because it may take several years.
Look at it this way. Not long ago the GBP was worth USD2, and people were talking about 2.2 and so on. Now despite the fact that the US economy is in serious trouble, how soon would you bet that the GBP will hit USD2, or even its previous 'average' of 1.75ish?
Sep 2nd 2010, 3:39 am
#2192
Lost in BE Cyberspace
Joined: Apr 2004
Posts: 10,375
Re: 1.93's A$ to the Pound!!!
Spot on IMO.
Thats really what this thread should be about. A lot of people seem to be sitting on GBPs saying they're waiting for 1.8 or 2 or whatever. People need to wake up to the fact that the UK economy is toast for a while, barring unforseen events (like Cameron finding a tril or two under his matress).
The Aussie economy OTOH is doing good and is riding the Dragon (and no, China won't disappear in a puff of smoke at some point). Christ even if they went into recession they'd still be buying raw materials like crazy.
I guess its pretty safe waiting for 1.8, I'm sure the GBP will touch that at some point, but if youre waiting for 2, you have to have a plan B because it may take several years.
Look at it this way. Not long ago the GBP was worth USD2, and people were talking about 2.2 and so on. Now despite the fact that the US economy is in serious trouble, how soon would you bet that the GBP will hit USD2, or even its previous 'average' of 1.75ish?
Thats really what this thread should be about. A lot of people seem to be sitting on GBPs saying they're waiting for 1.8 or 2 or whatever. People need to wake up to the fact that the UK economy is toast for a while, barring unforseen events (like Cameron finding a tril or two under his matress).
The Aussie economy OTOH is doing good and is riding the Dragon (and no, China won't disappear in a puff of smoke at some point). Christ even if they went into recession they'd still be buying raw materials like crazy.
I guess its pretty safe waiting for 1.8, I'm sure the GBP will touch that at some point, but if youre waiting for 2, you have to have a plan B because it may take several years.
Look at it this way. Not long ago the GBP was worth USD2, and people were talking about 2.2 and so on. Now despite the fact that the US economy is in serious trouble, how soon would you bet that the GBP will hit USD2, or even its previous 'average' of 1.75ish?
Never 'appy some folk
Sep 2nd 2010, 3:46 am
#2193
Proudly Deplorable
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Re: 1.93's A$ to the Pound!!!
Spot on IMO.
Thats really what this thread should be about. A lot of people seem to be sitting on GBPs saying they're waiting for 1.8 or 2 or whatever. People need to wake up to the fact that the UK economy is toast for a while, barring unforseen events (like Cameron finding a tril or two under his matress).
The Aussie economy OTOH is doing good and is riding the Dragon (and no, China won't disappear in a puff of smoke at some point). Christ even if they went into recession they'd still be buying raw materials like crazy.
I guess its pretty safe waiting for 1.8, I'm sure the GBP will touch that at some point, but if youre waiting for 2, you have to have a plan B because it may take several years.
Look at it this way. Not long ago the GBP was worth USD2, and people were talking about 2.2 and so on. Now despite the fact that the US economy is in serious trouble, how soon would you bet that the GBP will hit USD2, or even its previous 'average' of 1.75ish?
Thats really what this thread should be about. A lot of people seem to be sitting on GBPs saying they're waiting for 1.8 or 2 or whatever. People need to wake up to the fact that the UK economy is toast for a while, barring unforseen events (like Cameron finding a tril or two under his matress).
The Aussie economy OTOH is doing good and is riding the Dragon (and no, China won't disappear in a puff of smoke at some point). Christ even if they went into recession they'd still be buying raw materials like crazy.
I guess its pretty safe waiting for 1.8, I'm sure the GBP will touch that at some point, but if youre waiting for 2, you have to have a plan B because it may take several years.
Look at it this way. Not long ago the GBP was worth USD2, and people were talking about 2.2 and so on. Now despite the fact that the US economy is in serious trouble, how soon would you bet that the GBP will hit USD2, or even its previous 'average' of 1.75ish?
Interest rates in the UK are a joke because they are so low that it's not a loss putting money into PBs
We have a chance of 'winning' some money
We don't need this money right now and must try and get at least some return on it.
Sep 2nd 2010, 4:03 am
#2194
Forum Regular
Joined: Apr 2009
Posts: 252
Re: 1.93's A$ to the Pound!!!
Sounds like a smart strategy to me. Personally I changed most of my GBP in the 1.7-1.8 range, because I figured it wouldnt go a lot higher, I felt happier having the money in AUD, and I can earn decent interest on it here.
But if I had a lot of cash in the UK right now that I didnt need for 2 yrs+, Id probably do something similar.
JMO.
But if I had a lot of cash in the UK right now that I didnt need for 2 yrs+, Id probably do something similar.
JMO.
Sep 2nd 2010, 9:34 am
#2195
Lost in BE Cyberspace
Joined: Apr 2004
Posts: 10,375
Re: 1.93's A$ to the Pound!!!
Rewind time, go back 3000 posts and bring on the Guru who predicted ......
1.69 on OZ forex right now.
, go back 3000 posts and bring on the Guru who predicted ......1.69 on OZ forex right now.
Sep 2nd 2010, 11:13 pm
#2202
Account Closed
Joined: Jun 2005
Posts: 9,316
Re: 1.93's A$ to the Pound!!!
Thank you "Search this Thread".Looks like there was a whole 1.69 thread at one time that got merged into this one.
Jeez....what an absolute HAMMERING !
down to 1.668
http://www.propertywire.com/news/cur...003013922.html
"The markets showed sterling exactly what they thought about another 5 years of a Labour government as the prospect of a hung parliament loomed closer and confidence in the UK currency evaporated"
"The Aussie dollar has continued its surge in the currency markets and looks set to continue as the Aussie currency hits multi-year highs against an under pressure pound, breaking under the AUS$1.69 level"
down to 1.668
http://www.propertywire.com/news/cur...003013922.html
"The markets showed sterling exactly what they thought about another 5 years of a Labour government as the prospect of a hung parliament loomed closer and confidence in the UK currency evaporated"
"The Aussie dollar has continued its surge in the currency markets and looks set to continue as the Aussie currency hits multi-year highs against an under pressure pound, breaking under the AUS$1.69 level"
Sep 2nd 2010, 11:40 pm
#2203
Account Closed
Joined: Jul 2006
Posts: 14,188
Re: 1.93's A$ to the Pound!!!
It's all down to the power of the turban
Sep 2nd 2010, 11:44 pm
#2204
Account Closed
Joined: Jun 2005
Posts: 9,316
Re: 1.93's A$ to the Pound!!!
