Exchange rate

Old Oct 16th 2006, 9:19 am
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Default Exchange rate

Have noticed that over the last fortnight the rate of exchange has fallen by about 7 cents.Does anyone know if it is expected to drop further or start to rise again?
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Old Oct 16th 2006, 9:55 am
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Default Re: Exchange rate

Originally Posted by raven
Have noticed that over the last fortnight the rate of exchange has fallen by about 7 cents.Does anyone know if it is expected to drop further or start to rise again?
No idea sorry (wish I did!)

Just transferred our money over today (pity our sale didn't complete 2 weeks ago )

I daren't look in case it starts to go up again and I've lost out.

But it could just as easily go down more then.....

Oh well, no use worrying about it now.
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Old Oct 16th 2006, 11:04 am
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Default Re: Exchange rate

Originally Posted by raven
Have noticed that over the last fortnight the rate of exchange has fallen by about 7 cents.Does anyone know if it is expected to drop further or start to rise again?
Hold on - lets see what my crystal ball says...

Inflationary pressures in the Australian economy, and the prospect of the largest drought in living memory here *may* need to be corrected by further increases in interest rates, which is driving the $ against the £. The rate has already fallen through the support level at $2.50 (which now becomes a resistance level), so it may bouy off of the back of profit taking, unlikely to push through a resistance level, or it may fall further.

There's loads of other stuff to consider too - The UD$ and the Yen. And just when you may have got your head around that, there may be a Bird Flu outbreak somewhere. I'm sure you get the picture...

Time will tell. It always does...

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