paulry

It briefly went over 2.1 to 1 last night. At this rate we could be at 2.2 before the end of August.

Alfresco

Not that it ever was our country to start with, but rather colonized (read stolen) by the British and other Europeans, in their quest for world domination.

DC10

Nearly $2.12 this morning.... and he sayeth unto the Australian economy "Give us this day our daily one or two cents off against Sterling"

paulry

Peaked at over 2.13 last night. Looking at the increase over the last 3-4 months we're seeing a more or less steady drop in AUD to GBP value of about 10c per month. Carry on like this and it'll be over 2.5 come Christmas

paulry

...And an interesting similarity in fortunes with the Canadian $

astera

What's interesting is that the AUD still has a bit to go before it reaches the lows of the super-crash (0.6369 US cents) that started in mid-2008 and only ended (or rather turned around) at the beginning of 2009.

The CAD acted in similar fashion then but has just recently fallen to even greater lows...

Amazulu

But you're forgetting that this is BE - where 'bad' things only happen to Australia

Canada - the BE Aussie haters darling, 'better' country in the same situation as us

Who'd a thunk it

Beoz

Another commodity based economy.

Ballys

And the UK's economy is based on what?...this perhaps

Drugs and prostitution to be included in UK national accounts | Society | The Guardian

Beoz

Services. Nice contribution from the prostitutes.

Ballys

Not to mention the druggies.

Services (Banks) that require huge government bail outs.

This from a place that was in the forefront of the industrial revolution......Sad really

paulry

That's a good observation that does suggest the AUD has further to fall.

Beoz

Not many would be against that.

astera

Plus let's keep in mind that the last time around the AUD tanked due to what happened in the US with the stock market there collapsing rather spectacularly.

Right now the AUD is weak even though stocks in the US are at record levels. It's scary to think what would happen if the market there went into freefall with an already discounted AUD...

I reckon the RBA wouldn't intervene in a quick fashion but similarly to last time they will wait until all the panic selling stops, so it could be 3 months before things stabilise and hit rock bottom.

Then again it was falling from a high level last time around so there was more lee-way - maybe if things get really messy like the AUD breaking through the 50c barrier rather quickly then the intervention will come earlier?

EMR

With commodity prices fallling you can expect currencies for those countries with a large % of their gdp coming from metals to fall further. Copper reached new lows on friday.