Exchange rates
Aug 10th 2004, 3:44 pm
#1
Forum Regular
Thread Starter
Joined: May 2004
Location: Perth
Posts: 59
Exchange rates
Hi
Does anyone know the reason why the exchange rate is getting
worse over the last few days? Is going to get worse or better??
Whats your thoughts on this. I thought that the recent rise in interest
rates in the Uk would have made the pound stronger!
Does anyone know the reason why the exchange rate is getting
worse over the last few days? Is going to get worse or better??
Whats your thoughts on this. I thought that the recent rise in interest
rates in the Uk would have made the pound stronger!
Aug 10th 2004, 3:55 pm
#2
Keeping it fairly real
Joined: Jun 2004
Location: In the sun
Posts: 32,863
Re: Exchange rates
Originally Posted by kakadu chris
Hi
Does anyone know the reason why the exchange rate is getting
worse over the last few days? Is going to get worse or better??
Whats your thoughts on this. I thought that the recent rise in interest
rates in the Uk would have made the pound stronger!
Does anyone know the reason why the exchange rate is getting
worse over the last few days? Is going to get worse or better??
Whats your thoughts on this. I thought that the recent rise in interest
rates in the Uk would have made the pound stronger!
Aug 10th 2004, 4:03 pm
#3
Forum Regular
Joined: May 2004
Location: Cambridge
Posts: 116
Re: Exchange rates
The latest inflation figures make a rate rise next month less likely, hence the fall in the value of the pound. If the markets are expecting a change it will have no effect on rates. However, what will make a difference is if they think that UK rates will rise either higher or faster than originally expected, or conversely that Oz rates will change more/less or quicker/slower than expected.
As to what will happen next - If I knew then I wouldn't be sitting here trying to make a living, but sunning myself on a beach somewhere
Alastair
As to what will happen next - If I knew then I wouldn't be sitting here trying to make a living, but sunning myself on a beach somewhere
Alastair
Aug 10th 2004, 4:32 pm
#4
Forum Regular
Thread Starter
Joined: May 2004
Location: Perth
Posts: 59
Re: Exchange rates
exactly my thoughts about sitting on the beach!! 
Aug 11th 2004, 2:59 pm
#5
Forum Regular
Joined: Nov 2002
Location: Ashford, Kent
Posts: 191
Re: Exchange rates
Just got 2.55 with HSBC UK to HSBC Aus
Paul
Paul
Aug 11th 2004, 3:03 pm
#6
Joined: Jul 2004
Posts: 6,360
Re: Exchange rates
[QUOTE=kakadu chris]Hi
Is going to get worse or better??
Whats your thoughts on this. QUOTE]
Sorry, dont have a crystal ball...
Is Mystic Meg around anywhere?
Is going to get worse or better??
Whats your thoughts on this. QUOTE]
Sorry, dont have a crystal ball...
Is Mystic Meg around anywhere?
Aug 11th 2004, 3:06 pm
#7
Bitter and twisted
Joined: Dec 2003
Location: Upmarket
Posts: 17,503
Re: Exchange rates
Originally Posted by kakadu chris
Hi
Does anyone know the reason why the exchange rate is getting
worse over the last few days? Is going to get worse or better??
Whats your thoughts on this. I thought that the recent rise in interest
rates in the Uk would have made the pound stronger!
Does anyone know the reason why the exchange rate is getting
worse over the last few days? Is going to get worse or better??
Whats your thoughts on this. I thought that the recent rise in interest
rates in the Uk would have made the pound stronger!
G
Aug 11th 2004, 3:11 pm
#8
Forum Regular
Joined: Nov 2002
Location: Ashford, Kent
Posts: 191
Re: Exchange rates
Impossible to say, its basically been gently sliding since the beginning of August and I was holding on for the interest rate rise in the UK, which made no difference at all, given that I must transfer by the middle of next week I took what I could get it case it drops back down to the levels of early May.
Aug 11th 2004, 4:29 pm
#9
BE Forum Addict
Joined: Sep 2003
Location: North Lakes/Mango Hill, Brisbane
Posts: 1,134
Re: Exchange rates
The wife agreed $2.55 today with HIFX.
HIFX are saying that that the word on the street is that the Oz interest rate will probably go up at the next meeting and the markets appear to be anticipating this - hence the drop
Better than it was 3 months ago when it dropped to $2.30 and not as good as 4 weeks ago when it was $2.70 but hey you've gotta duck n dive, wheel and deal.
HIFX are saying that that the word on the street is that the Oz interest rate will probably go up at the next meeting and the markets appear to be anticipating this - hence the drop
Better than it was 3 months ago when it dropped to $2.30 and not as good as 4 weeks ago when it was $2.70 but hey you've gotta duck n dive, wheel and deal.
Aug 11th 2004, 5:00 pm
#10
Forum Regular
Joined: May 2004
Location: Cambridge
Posts: 116
Re: Exchange rates
Originally Posted by Billabong
The wife agreed $2.55 today with HIFX.
HIFX are saying that that the word on the street is that the Oz interest rate will probably go up at the next meeting and the markets appear to be anticipating this - hence the drop
Better than it was 3 months ago when it dropped to $2.30 and not as good as 4 weeks ago when it was $2.70 but hey you've gotta duck n dive, wheel and deal.
HIFX are saying that that the word on the street is that the Oz interest rate will probably go up at the next meeting and the markets appear to be anticipating this - hence the drop
Better than it was 3 months ago when it dropped to $2.30 and not as good as 4 weeks ago when it was $2.70 but hey you've gotta duck n dive, wheel and deal.
) was published today and seemed to show that UK inflation is not expected to go up as fast as orignally thought. Another reason for the pound to slip as UK rates will go up a bit slower nowAlastair
