Exchange Rate
Aug 15th 2007 | 11:20 am
#61
Extended Member
Joined: Mar 2004
Posts: 486
From: Sydney
Re: Exchange Rate
Sold Sterling last week for 2.3455 after waiting for weeks and finally biting the bullet in expectation that Aussie interest rate rise would take it even lower.
Sigh.
Sigh.
Aug 15th 2007 | 3:41 pm
#66
Frequent Flyer Member
Joined: Jun 2007
Posts: 10,994
From: Melbourne
Re: Exchange Rate
$2.475!
A$ appears to be tanking!
A$ appears to be tanking!
Aug 15th 2007 | 3:56 pm
#67
no longer searching
Joined: Sep 2002
Posts: 2,030
Re: Exchange Rate
all ords down nearly 5%, RAMS trading at 82c ($2.5 a few wks ago), investor getting out of commodities. maybe good for buying AUS$ (I'm not complaining), but wary of other fall outs such as on the economy, the mortgage market etc
btw have you seen how much the pound has climbed against the NZ$ - below $2.60 end of last month, now nearing $2.90
http://www.smh.com.au/news/business/...857643671.html
http://www.smh.com.au/news/business/...857631362.html
btw have you seen how much the pound has climbed against the NZ$ - below $2.60 end of last month, now nearing $2.90
http://www.smh.com.au/news/business/...857643671.html
http://www.smh.com.au/news/business/...857631362.html
Aug 15th 2007 | 5:37 pm
#69
DownUnder
Joined: May 2003
Posts: 1,709
From: Thorneside, Brissy
Re: Exchange Rate
Update from Ozforex
***
Exchange rates are currently moving very rapidly due to credit market problems in the US, which have spilled over into share-markets and currency markets.
In less than 2 weeks the GBP/AUD rate has gone from a low of around 2.31 to its current level 2.4650 (interbank).
Similar gains have occurred against the NZ$ with the latest rate of 2.8770, 13% higher than its low point of 2.55.
It's difficult to forecast direction from here because of the extreme volatility we are witnessing in the markets. Sentiment suggests more weakness for the Aussie and Kiwi but it is highly dependent on share-markets continuing to fall. The GBP/AUD should initially struggle to break through the 2.5000 level where sellers are lined up.
***
***
Exchange rates are currently moving very rapidly due to credit market problems in the US, which have spilled over into share-markets and currency markets.
In less than 2 weeks the GBP/AUD rate has gone from a low of around 2.31 to its current level 2.4650 (interbank).
Similar gains have occurred against the NZ$ with the latest rate of 2.8770, 13% higher than its low point of 2.55.
It's difficult to forecast direction from here because of the extreme volatility we are witnessing in the markets. Sentiment suggests more weakness for the Aussie and Kiwi but it is highly dependent on share-markets continuing to fall. The GBP/AUD should initially struggle to break through the 2.5000 level where sellers are lined up.
***
Aug 15th 2007 | 5:52 pm
#70
Victorian Evangelist
Joined: Sep 2005
Posts: 7,704
From: Melbourne, by the beach, living the dream.
Re: Exchange Rate
In my opinion it will hit the floor at just over AU$2.5 to the pound, where it will stabilise briefly.
............I hope............!
Buzzy
............I hope............!
Buzzy
Aug 15th 2007 | 6:26 pm
#71
BE Enthusiast
Joined: Mar 2007
Posts: 417
From: In a little world all my own....
Re: Exchange Rate
Damn, I was asleep. Ah well, just got $2.456 - better than a couple of weeks ago.
Three deals in the last week at 2.389, 2.9ish, and now this - can't wait for tomorrow!
Jensen Healey (Mr Jojosan, who can't be arsed to log out and back in again!)
Three deals in the last week at 2.389, 2.9ish, and now this - can't wait for tomorrow!
Jensen Healey (Mr Jojosan, who can't be arsed to log out and back in again!)
Aug 15th 2007 | 6:42 pm
#72
Oiiii.. You slaggg!
Joined: Feb 2004
Posts: 5,209
From: Brisbaneshire
Re: Exchange Rate
2.9(ish)? Can I borrow a wad?
Aug 15th 2007 | 7:02 pm
#73
BE Enthusiast
Joined: Mar 2007
Posts: 417
From: In a little world all my own....
Aug 15th 2007 | 7:35 pm
#74
South Yarra Sheila
Joined: Apr 2007
Posts: 1,078
Re: Exchange Rate
All concentrate and make it go even higher!! Anything over 2.5 please
Aug 15th 2007 | 8:08 pm
#75
I am the walrus.. face it
Joined: Jun 2006
Posts: 367
From: Devon, UK
Re: Exchange Rate
With a bit of luck it will hit 2.50 when we exchange in a couple of weeks. That will be SWEEEET.
Incredible swings though!
Incredible swings though!
