Exchange Rate on its way up?
Dec 4th 2007, 7:46 pm
#91
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Dec 4th 2007, 7:48 pm
#92
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Re: Exchange Rate on its way up?
Good luck Chugo. Let's hope something happens soon.... this driving me mad 
Nic
Nic
Dec 4th 2007, 8:18 pm
#93
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Re: Exchange Rate on its way up?
today but its a risk we're going to have to take! I haven't got the time to sit at the computer all day checking rates and hubby's busy at work so we've just got to go with it and look on the positive side of things (well thats what my hubby keeps telling me)! It would've been nice to have got a 2.46 offer in August though and made an extra $13-14,000, oh well what is it they say...., what you've never had you don't miss (but I do miss it!!
)
Dec 4th 2007, 10:02 pm
#94
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Re: Exchange Rate on its way up?
It's 2.3627 at the minute...
Dec 5th 2007, 8:51 pm
#95
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Re: Exchange Rate on its way up?
I am so annoyed :curse::curse
to put it politely!!):curse::curse:
As I mentioned on an earlier post I needed the rate to hit 3.3694 to get my 2.36... what happened yesterday... it hit 2.3684 then bloody dropped!!!
Typical!!
I'm beginning to think I'm not a very lucky person!!!
Today its even worse, sitting at 2.3316 at the mo!
Do I scream and cry or think positively that it'll climb right back up again?
Come on all you experts, help me predict the future!!!!
to put it politely!!):curse::curse:As I mentioned on an earlier post I needed the rate to hit 3.3694 to get my 2.36... what happened yesterday... it hit 2.3684 then bloody dropped!!!
Typical!!
I'm beginning to think I'm not a very lucky person!!!
Today its even worse, sitting at 2.3316 at the mo!
Do I scream and cry or think positively that it'll climb right back up again?
Come on all you experts, help me predict the future!!!!
Dec 5th 2007, 9:10 pm
#96
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Re: Exchange Rate on its way up?
Hey Chugo
I am by no means an expert, but I spoke to ukforex today who told me to keep an eye on the exchange rate tomorrow intermitently all day as it could rise with whatever is happening tomorrow (can't remember what he said)
Nic
I am by no means an expert, but I spoke to ukforex today who told me to keep an eye on the exchange rate tomorrow intermitently all day as it could rise with whatever is happening tomorrow (can't remember what he said)
Nic
Dec 5th 2007, 9:35 pm
#97
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Posts: 377
Re: Exchange Rate on its way up?
I am so annoyed :curse::curseto put it politely!!):curse::curse:
As I mentioned on an earlier post I needed the rate to hit 3.3694 to get my 2.36... what happened yesterday... it hit 2.3684 then bloody dropped!!!
Typical!!
I'm beginning to think I'm not a very lucky person!!!
Today its even worse, sitting at 2.3316 at the mo!
Do I scream and cry or think positively that it'll climb right back up again?
Come on all you experts, help me predict the future!!!!
to put it politely!!):curse::curse:As I mentioned on an earlier post I needed the rate to hit 3.3694 to get my 2.36... what happened yesterday... it hit 2.3684 then bloody dropped!!!
Typical!!
I'm beginning to think I'm not a very lucky person!!!
Today its even worse, sitting at 2.3316 at the mo!
Do I scream and cry or think positively that it'll climb right back up again?
Come on all you experts, help me predict the future!!!!
If it makes you feel any better, we booked a rate for a large amount at 2.38 in August, literally about a couple of hours before it rocketed to 2.55. Now that's bad luck!
I'm watching it again now, but as i'm changing a much smaller amount i'm not that bothered.
Dec 5th 2007, 9:37 pm
#98
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Re: Exchange Rate on its way up?
It could be expected that the pound was going to drop today(5th) as the announcement is due to be made tomorrow as to whether the BOE will drop interest rates or keep them the same.
If interest rates do drop then its likely that the pound will lose some value and you'll get less Aussie dollars for your money.
The general consensus is that the BOE would not drop interest rates as it would be more beneficial in the long term. However, in the last couple of days some significant individuals and companies (Tescos) have been urging the BOE to drop interest rates to increase spending. This probably made investors a bit unsure as what to expect tomorrow and tentatively backed off the pound a bit.
So the short of it is ...
If interest rates do drop then its likely that the pound will lose some value and you'll get less Aussie dollars for your money.
The general consensus is that the BOE would not drop interest rates as it would be more beneficial in the long term. However, in the last couple of days some significant individuals and companies (Tescos) have been urging the BOE to drop interest rates to increase spending. This probably made investors a bit unsure as what to expect tomorrow and tentatively backed off the pound a bit.
So the short of it is ...
- If Interest rates stay the same tomorrow then the pound should should start edging up again in value and you will get more Aussie dollars.
- If Interest rates drop tomorrow then you could expect the pound to fall even further and you'll get less Aussie dollars.
Dec 5th 2007, 9:43 pm
#99
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Re: Exchange Rate on its way up?
There is a fair bit of pressure to drop rates, however its more likely that they will drop in Jan rather than tomorrow. Depends on what political pressure is being put on the BOE, with everything else political thats going on, thinking about it now, its quite likely they will drop tomorrow. Makes the politicians more popular. Although the bank is supposed to be politically independent now.....
Dec 5th 2007, 9:49 pm
#100
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Re: Exchange Rate on its way up?
Thanks for the information, much appreciated.
Just have to hope the BOE keeps the rate the same.
Fingers crossed, Nic
Just have to hope the BOE keeps the rate the same.
Fingers crossed, Nic
Dec 5th 2007, 10:07 pm
#101
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Location: Perth (ex Oxford)
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Re: Exchange Rate on its way up?
OzForex seem to think that Interest Rates will drop tomorrow.
If so, and you need to exchange very soon then you might want to do it as soon as possible.
Alternative is to play it safe, but be very quick when the announcement is made tomorrow in case it's a drop.
If so, and you need to exchange very soon then you might want to do it as soon as possible.
Alternative is to play it safe, but be very quick when the announcement is made tomorrow in case it's a drop.
:: Great British Pound: The odds of an interest rate cut by the Bank of England tonight firmed after some less than impressive UK data. November services PMI dropped to its lowest level in over 4 years and coupled with recent falls in consumer sentiment and house prices it appears the case for a reduction is mounting. The Pound Sterling was sold off quite aggressively in the face of the news dropping from Asian levels of 2.0580 to open this morning back at 2.0255. The cross rate opens this morning substantially lower than yesterdays highs of 2.3680 to exchange at 2.3250.
- We expect a range today in the GBP/AUD rate of 2.3180 to 2.3280.
- We expect a range today in the GBP/AUD rate of 2.3180 to 2.3280.
Dec 5th 2007, 10:09 pm
#102
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Location: Melbourne
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Re: Exchange Rate on its way up?
...often if interest rates change it doesn't have that much effect because it was so obvious it was going to happen that the finanical markets already factored it in. However with the BoE decision I reckon it's a very close call and so the result could have an immediate effect on the exchange rate. If the BoE drops rates then the pound could fall quickly against the A$, especially with Aus interest rates still looking likely to rise again within the next 3 months.
Dec 5th 2007, 11:08 pm
#103
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Joined: Mar 2006
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Posts: 128
Re: Exchange Rate on its way up?
It could be expected that the pound was going to drop today(5th) as the announcement is due to be made tomorrow as to whether the BOE will drop interest rates or keep them the same.
If interest rates do drop then its likely that the pound will lose some value and you'll get less Aussie dollars for your money.
The general consensus is that the BOE would not drop interest rates as it would be more beneficial in the long term. However, in the last couple of days some significant individuals and companies (Tescos) have been urging the BOE to drop interest rates to increase spending. This probably made investors a bit unsure as what to expect tomorrow and tentatively backed off the pound a bit.
So the short of it is ...
If interest rates do drop then its likely that the pound will lose some value and you'll get less Aussie dollars for your money.
The general consensus is that the BOE would not drop interest rates as it would be more beneficial in the long term. However, in the last couple of days some significant individuals and companies (Tescos) have been urging the BOE to drop interest rates to increase spending. This probably made investors a bit unsure as what to expect tomorrow and tentatively backed off the pound a bit.
So the short of it is ...
- If Interest rates stay the same tomorrow then the pound should should start edging up again in value and you will get more Aussie dollars.
- If Interest rates drop tomorrow then you could expect the pound to fall even further and you'll get less Aussie dollars.
Dec 5th 2007, 11:48 pm
#104
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Dec 6th 2007, 2:55 am
#105
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Re: Exchange Rate on its way up?
We did the deal on monday and got 2.36. glad we did because of the uncertenty of the weeks interest rates in the uk. Glad its all over its been doing my head in watching the computer for months on end . Never want to look at exchangr rates ever again. carl