sparkley23

I heard from OxForex that the Aussie Interest rate is likely to go up this week. What impact does that usually have on the GBP/AUD exchange rate? Will it go up in my favour or should I cash in my pennies for cents now?

Austin Showers

i heard quite the opposite on the radio today, i also see the dollar is dropping against the pound, whatever that means, lol!

MartinLuther

Usually when a country raises its interest rates, its currency becomes more desirable so you get less to the £. Doesn't always happen though. I think the last raise resulted in a dip rather than a fall.

karenjc

On the radio today it said most analysts think there Will be no rise tomorrow but will be before Xmas

worzel

I would be very surprised if it changes. They only upped it last month and the budgets were passed down too. I reckon they will give it a few months to see what those changes do to the economy.

arkon

At last some good news then.

DunRoaminTheUK

Dollar seems to be strengthening against the GBP as it's just about to pass back into $2.49 territory.

arkon

Whooo then, 1 to 1 here we come.....

ScottDavis

It's been fluctuating between $2.48 and $2.51 for about 2 weeks so let's not get too excited...

DunRoaminTheUK

Hmmm? My original statement still stands (or at least did at the time) which was intended to merely inform people that the dollar was weakening. There was no inference or suggestion alluding to anything else I'm afraid.

I've no reason to get excited as we've already agreed our forward contract.

Good day....

sparkley23

Come on 3 dollars to the pound!! We're rooting for ya!

arkon

For it to go to 1 to 1, exactly what has to happen?

JaneandJim

They've just announced that the interest rate is to remain unchanged.

Jane

worzel

See, I told you

ScottDavis

Global warming accelarates, London gets wiped out by a freak wave, pound collapses.

or

John Prescott becomes the new Prime Minister.