Centurion

61c or 1.63 !!!

Not to mention 95.5c USD !!

http://www.bloomberg.com/news/2010-0...purchases.html

Fed Prepared to Ease Further to Revive Economy

The Federal Reserve said it’s willing to ease monetary policy further to spur growth and support prices while refraining today from expanding its holdings of securities.

Money printing here we come..

iamthecreaturefromuranus

So the pound has dropped 15% against the dollar since this thread started.

I wonder how many people are still waiting for the pound to get back to its 'proper level'?

MartinLuther

I wonder how many are kicking themselves because they were waiting for it to go back to 3:1.

Swerv-o

I wonder how many consider this to be the new paradigm in AUD-GBP values...


S

isgraham

Given that I am moving back to the UK I think that this is a good level. In fact the lower the pound goes the better.

Swerv-o

Stop it - that move is looking more and more tempting every day...


S

ozzieeagle

Could Australia be now experiencing the mass gain in relative wealth v the rest of the world, that the US saw in the 40s 50s and 60s ? Could it do this without a decent sized manufacturing industry ?

GoldCoastOrBust

Depressing reading on the whole. Bought a plot of land and settle on the 11th October. Got to transfer soon, since the offer was accepted the value of my available cash has dropped by 10,000 dollars, thats a big loss in just a couple of weeks.

Personally I think the AUD is way overvalued, and its starting to hurt. The GC is very quiet, not seeing that many properties shifting on the whole, and those that are selling are way below the asking price. The next summer season, if the tourists fail to flock in, will hurt the GC very badly indeed.

However, for me, timing gets in the way, so I just have to take it on the chin.

pomtastic

No. The world has changed considerably since the 40's, 50's and 60's. People are much more mobile, goods and services are now available globally.

There is an assumption that people will flock to Aus at any price, not true as we are seeing this happen right now. The tourist industry, the student industry, manufacturing, are all having to compete with overseas who are offering the same/better product for better value and as a result Australia is falling behind because of the relative high cost.

I'm curious to see what Oprah's studio audience have to say on online blogs about Australia regarding the cost here, the USD will probably be parity by the time they all fly out here.

jad n rich

Was thinking that they are going to be shocked at cost of stuff here.

I'm shocked at the cost of stuff here and we earn aussie dollars, looking at a few hotels over Xmas hols, OMBG, we can get London, York, Manchester...... UK for a third of the price.

If the flights were not so bloody overpriced here a UK hol would cost us way less than staying in OZ.

KJCherokee

Speaking as someone who can remember when an American cent was the same as a British penny (i.e. US$2.40 to the pound), I'm never expecting currencies to 'go back to where they were'.

GoldCoastOrBust

Its all relative really. I'm earning more money in relative terms than I was in the UK, my skills are very much in demand, so I've got a higher level of job security and my travel costs in real terms have gone down massively, from 450GPB a month to 400AUD per month. Some things are a lot more expensive (mobile phones and broadband - ouch) and others are cheaper (fuel, transport).

Les Avalook

More than one.

isgraham

As long as it goes back to 3:1 in the next 3 - 4 years when I move back to Oz I will be happy.

scrubbedexpat055

If it is, then I think a significant number of people will decide Australia is not for them. If you are holding UK assets or sterling, then the current exchange rate change is a significant erosion of your accumulated wealth, compared to a couple of years ago.

TBH, if it stays at or around this level, I am not sure if its worthwhile for us..

Peter