Exchange rate AUD Vs GBP £1 buys $1.83
#391
Re: Exchange rate AUD Vs GBP £1 buys $1.83
The main thing driving this has been the realisation that interest rates in the Northern Hemisphere aren't going up (from virtually 0%) anytime soon.
#392
Re: Exchange rate AUD Vs GBP £1 buys $1.83
Sterling didn't exactly cover itself in glory during 2008: $2.00 to $1.40 about as quick as you can say "R-B-S"
#393
Re: Exchange rate AUD Vs GBP £1 buys $1.83
I mean tanks as in truly takes a dive like the one that happened in 2007-08.
http://finance.yahoo.com/echarts?s=%5Edji+interactive#{"range":"10y","allow ChartStacking":true}
The Aussie Dollar went into even greater freefall then, taking a pummelling that I've never seen before. I wouldn't want to be holding onto too many AUD when the proverbial hits the fan the next time around over in the US.
http://finance.yahoo.com/echarts?s=%5Edji+interactive#{"range":"10y","allow ChartStacking":true}
The Aussie Dollar went into even greater freefall then, taking a pummelling that I've never seen before. I wouldn't want to be holding onto too many AUD when the proverbial hits the fan the next time around over in the US.
I was holding plenty of AUD then as now and it had no effect on me at all. Our economy continued to grow and, if I remember correctly, we had 1 quarter of negative growth - and it was 60c not 50c
These things mean different things to different people. Personally, i would be dancing in the street if we hit USD0.50 or AUD3/GBP. It would mean I could move my GBP over at a large gain. Happy days if it happens
#394
Last resort... format c:/
Joined: Mar 2012
Location: Singapore to Surfers Paradise to... Tenerife... to Gran Canaria!
Posts: 1,627
Re: Exchange rate AUD Vs GBP £1 buys $1.83
Speaking of Sterling, compared to the USD it is in exactly the same place as when it tanked at that time.
Speak for yourself
I was holding plenty of AUD then as now and it had no effect on me at all. Our economy continued to grow and, if I remember correctly, we had 1 quarter of negative growth - and it was 60c not 50c
These things mean different things to different people. Personally, i would be dancing in the street if we hit USD0.50 or AUD3/GBP. It would mean I could move my GBP over at a large gain. Happy days if it happens
I was holding plenty of AUD then as now and it had no effect on me at all. Our economy continued to grow and, if I remember correctly, we had 1 quarter of negative growth - and it was 60c not 50c
These things mean different things to different people. Personally, i would be dancing in the street if we hit USD0.50 or AUD3/GBP. It would mean I could move my GBP over at a large gain. Happy days if it happens
I too would be happy if the AUD tanked. I only hold USD so wouldn't mind Sterling going that same route either. At least temporarily...
Actually thinking what to do next and which currency to move to. The CAD seems very low at present but can the resource sector get back to its extortionate ways of ridiculous profitability? Or maybe wait for the GBP to get in trouble with all that referendum nonsense?
#395
Re: Exchange rate AUD Vs GBP £1 buys $1.83
I'm an "all eggs in one basket type of person" and I converted everything at around $2.08 then. It shot up to something like $2.35 or higher shortly afterwards which had me thinking I messed up, but right afterwards the plunge begun and it dropped into the 1.40s range.
Speaking of Sterling, compared to the USD it is in exactly the same place as when it tanked at that time.
Stock market crashes, even the biggest ones in history, would have no effect on you if you just wait some years. It's all about a missed opportunity though, because if you would have sold for instance you could have bought back your original stake at a huge discount.
I too would be happy if the AUD tanked. I only hold USD so wouldn't mind Sterling going that same route either. At least temporarily...
Actually thinking what to do next and which currency to move to. The CAD seems very low at present but can the resource sector get back to its extortionate ways of ridiculous profitability? Or maybe wait for the GBP to get in trouble with all that referendum nonsense?
Speaking of Sterling, compared to the USD it is in exactly the same place as when it tanked at that time.
Stock market crashes, even the biggest ones in history, would have no effect on you if you just wait some years. It's all about a missed opportunity though, because if you would have sold for instance you could have bought back your original stake at a huge discount.
I too would be happy if the AUD tanked. I only hold USD so wouldn't mind Sterling going that same route either. At least temporarily...
Actually thinking what to do next and which currency to move to. The CAD seems very low at present but can the resource sector get back to its extortionate ways of ridiculous profitability? Or maybe wait for the GBP to get in trouble with all that referendum nonsense?
#396
Lost in BE Cyberspace
Joined: Apr 2004
Posts: 10,375
Re: Exchange rate AUD Vs GBP £1 buys $1.83
51 p this morning, if anyone transfering money/holiday its a lot better than a few months ago.
#397
Lost in BE Cyberspace
Joined: Dec 2010
Posts: 14,040
Re: Exchange rate AUD Vs GBP £1 buys $1.83
Keep going you fragile little thing . Next week in an expensive one in the US for me. Need everything I can get
#398
Re: Exchange rate AUD Vs GBP £1 buys $1.83
and
They've never really seen a fall, just a flat lining. Whereas in the UK we've seen 35-30% falls regularly.
At the same time, if the AUD falls, the chinese investor gets more for their money, and thus considers it cheap.
The real SHTF moment will come when China finally catches up with the corruption, etc. and they collapse, bringing on GFC II. Not only do the exports dry up even further, so does the chinese money (more currency controls, worse exchange rate) and the AUD gets hit as a surrogate to the yuan.
My guess is that when it really starts falling, it will get some momentum, losing potentially 50% as people adjust to the idea that house prices can really fall.
#399
Lost in BE Cyberspace
Joined: Dec 2010
Posts: 14,040
Re: Exchange rate AUD Vs GBP £1 buys $1.83
Australian house prices live in an unreality field - there isn't the same expectation of crash that there is in the UK. Compare
http://www.ampcapital.com/AMPCapital...l/9/chart2.png
and
http://www.economicshelp.org/wp-cont...es-500x367.png
They've never really seen a fall, just a flat lining. Whereas in the UK we've seen 35-30% falls regularly.
At the same time, if the AUD falls, the chinese investor gets more for their money, and thus considers it cheap.
The real SHTF moment will come when China finally catches up with the corruption, etc. and they collapse, bringing on GFC II. Not only do the exports dry up even further, so does the chinese money (more currency controls, worse exchange rate) and the AUD gets hit as a surrogate to the yuan.
My guess is that when it really starts falling, it will get some momentum, losing potentially 50% as people adjust to the idea that house prices can really fall.
http://www.ampcapital.com/AMPCapital...l/9/chart2.png
and
http://www.economicshelp.org/wp-cont...es-500x367.png
They've never really seen a fall, just a flat lining. Whereas in the UK we've seen 35-30% falls regularly.
At the same time, if the AUD falls, the chinese investor gets more for their money, and thus considers it cheap.
The real SHTF moment will come when China finally catches up with the corruption, etc. and they collapse, bringing on GFC II. Not only do the exports dry up even further, so does the chinese money (more currency controls, worse exchange rate) and the AUD gets hit as a surrogate to the yuan.
My guess is that when it really starts falling, it will get some momentum, losing potentially 50% as people adjust to the idea that house prices can really fall.
#400
Re: Exchange rate AUD Vs GBP £1 buys $1.83
GBP is suddenly back up over $2 today...$2.02...basically gained 20c in the last month, that it lost in the previous 2 months.
#404
Re: Exchange rate AUD Vs GBP £1 buys $1.83
My trigger point of 2.40 is starting to look back on track