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Aussie Dollar continues to fall - £1 buys $1.66

Aussie Dollar continues to fall - £1 buys $1.66

Old Jul 9th 2013, 9:03 am
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Default Re: Aussie Dollar continues to fall - £1 buys $1.66

In December 1969 I was coming back from Poland, and on the ferry from Zeebrugge to Dover I handed over a pound note for a beer and only got a handfull of silver in change. I was about to complain that I'd been short-changed by a ten bob note when it was pointed out to me that whilst I'd been away ten bob notes had been replaced by 10 shilling (now 50p) coins!
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Old Jul 9th 2013, 3:39 pm
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Default Re: Aussie Dollar continues to fall - £1 buys $1.66

Originally Posted by GarryP View Post
The other way of looking at that is that the UK won't recover till past the election, which would be not good news for tory reelection prospects. Expect some 'views' on that from the Treasury.
There was this article about a month ago saying that the 2020 UK election could be an "austerity" one as well.
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Old Jul 10th 2013, 1:45 am
  #63  
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Default Re: Aussie Dollar continues to fall - £1 buys $1.66

Originally Posted by roaringmouse View Post
There was this article about a month ago saying that the 2020 UK election could be an "austerity" one as well.
Labour have said they are against the harsh austerity measures, and with UKIP on their tail the tories are going to have to pull some sweeteners out of their pocket to avoid defeat (Lab have a 7% lead today, trending upwards).

Basically, they need the grannies back from voting UKIP.

I'm betting that policies will be adjusted in 2014 to make that demographic happier - no matter what the money markets may think.
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Old Jul 11th 2013, 8:46 am
  #64  
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Default Re: Aussie Dollar continues to fall - £1 buys $1.66

Originally Posted by GarryP View Post
Labour have said they are against the harsh austerity measures, and with UKIP on their tail the tories are going to have to pull some sweeteners out of their pocket to avoid defeat (Lab have a 7% lead today, trending upwards).

Basically, they need the grannies back from voting UKIP.

I'm betting that policies will be adjusted in 2014 to make that demographic happier - no matter what the money markets may think.
Labour lead in polls is actually trending downwards recently (links with Unions, Falkirk constituency fiasco, Unite, Len McCluskey/Ed Milliband etc); blue rinsers who vote UKIP in council and by-elections often revert to blue in general elections. Nevertheless both main parties will offer sweeteners on the run in to the election - and then withdraw most when they get in power. Either that or they will say they didn't realise how much of a mess they had been left by the other party the last time they were in power.

Last edited by OzTennis; Jul 11th 2013 at 9:25 am.
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Old Jul 11th 2013, 8:54 am
  #65  
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Default Re: Aussie Dollar continues to fall - £1 buys $1.66

Originally Posted by OzTennis View Post
Laobur lead in polls is actually trending downwards recently (links with Unions, Falkirk constituency fiasco, Unite, Len McCluskey/Ed Milliband etc); blue rinsers who vote UKIP in council and by-elections often revert to blue in general elections. Nevertheless both main parties will offer sweeteners on the run in to the election - and then withdraw most when they get in power. Either that or they will say they didn't realise how much of a mess they had been left by the other party the last time they were in power.
Rudd v Abbott - not a great choice admittedly

but

Billy Bunter(Cameron) v Student Grant (Milliband) - even worse!
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Old Jul 11th 2013, 12:55 pm
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Default Re: Aussie Dollar continues to fall - £1 buys $1.66

Originally Posted by Amazulu View Post
Rudd v Abbott - not a great choice admittedly

but

Billy Bunter(Cameron) v Student Grant (Milliband) - even worse!
Not sure how you can (predictably) say worse? I dont see much to recommend any of them and certainly wouldnt like to say which is the worst of a bad bunch.
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Old Jul 12th 2013, 6:34 pm
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Default Re: Aussie Dollar continues to fall - £1 buys $1.66

Originally Posted by ABCD...... View Post
A nice link, and it seems to define parity as $2 to the £, with this info:For the exchange of pre-decimal banknotes, the conversion to dollars is obtained by multiplying the face value by two.
For example,
a £1 banknote converts to $2;
£5 converts to $10; and
£10 converts to $20.
The only exception to this is the 10 shilling banknote, which converts to $1.
I'm not sure what you mean by "parity", there. The old Australian ten-shillings was just re-designated as one dollar. There was no change of value vis-a-vis the British pound.
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Old Jul 13th 2013, 4:53 am
  #68  
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Default Re: Aussie Dollar continues to fall - £1 buys $1.66

Originally Posted by Gordon Barlow View Post
I'm not sure what you mean by "parity", there. The old Australian ten-shillings was just re-designated as one dollar. There was no change of value vis-a-vis the British pound.
I think you missed a bit...

The smiley at the end

(my sense of humour)
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Old Aug 2nd 2013, 6:35 pm
  #69  
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Old Aug 3rd 2013, 3:43 am
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Default Re: Aussie Dollar continues to fall - £1 buys $1.66

What's interesting to me is that over the last couple of months the Aussie dollar has fallen against all the major currencies by almost the same extent - over 10% against the USD, GBP, Euro etc.,. It's not just a "US dollar story" as some people suggest, linked into the recent strength in the US economy:

https://exfin.com/blog-expat-issues
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Old Aug 3rd 2013, 4:13 am
  #71  
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Default Re: Aussie Dollar continues to fall - £1 buys $1.66

the AUD was fundamentally overvalued to begin with, and this is the stuff the RBA and the Treasury wants to happen. in fact, the Governor is talking the AUD down!
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Old Aug 23rd 2013, 10:38 am
  #72  
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Default Re: Aussie Dollar continues to fall - £1 buys $1.66

$1.74 today!

Don't know if its ever going to get to $2.00.... But the drop in AU$ value has been very quick indeed...... Does anyone expect further drops before the election.... And the. What do you think will happen afterwards?
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Old Aug 23rd 2013, 11:00 am
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Default Re: Aussie Dollar continues to fall - £1 buys $1.66

No-one knows for certain obviously, but I expect more drops over time in the AUD. I said at the start of the thread you'd be a mug to buy $A at 1.66 and it's been a good decision so far with it getting up to 1.76.

If Carneys forward guidance didn't reign in the £ vs the A$ then I'm not sure what will
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Old Aug 23rd 2013, 11:03 am
  #74  
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Default Re: Aussie Dollar continues to fall - £1 buys $1.66

I have to change another sizeable chunk next month, to complete my house purchase...... The last lot I got $1.62..... I will be happy with$1.75... And ecstatic if I manage $1.80!!!
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Old Aug 23rd 2013, 12:54 pm
  #75  
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Default Re: Aussie Dollar continues to fall - £1 buys $1.66

Originally Posted by alipally View Post
$1.74 today!

Don't know if its ever going to get to $2.00.... But the drop in AU$ value has been very quick indeed...... Does anyone expect further drops before the election.... And the. What do you think will happen afterwards?
Wow! Maybe I should have waited a bit longer. But then I may have missed out on buying my house.

Good news indeed for those coming over.
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