Rosy

Just noticed that the Aus $ interbank rate is around 2.43 to the £,and some economists are predicting it will rise against the US $ to around 78c by next year.

Anyone got any ideas as to what would cause a reversal???

pommie bastard

If it reaches 78c US then expect the old rate of 2-1 in pounds , the higher interest rates in Australia are attracting the money market .
The UK could be lowering the rate again soon so watch the rubber dollar climb again.

Rosy

Any news on if/why/when the UK will lower its rates then PB?

Florida_03

Maybe I can afford a few new neurons when I get to Florida? Maybe some new hair? Maybe some new whiter teeth? Go dollar go...I'll feel like a new man.

Rosy

If it goes to 2:1 I`ll feel like a new woman... could be interesting....

pommie bastard

The UK will follow the USA which now has 1% rates , the housing market is slowing and it needs to kick start the other area's of the economy.

pommie bastard

Now thats a thought most men could wish to grab hold of.

Rosy

Probably true - anyone know what the news is on the UK economy at the moment???

Florida_03

So you're still going back to the UK?

Rosy

Yep...

pommie bastard

Mervyn King, the new governor of the Bank of England, faces strong pressure from business and unions to administer a confidence-boosting cut in borrowing costs when he chairs his first meeting of the rate-setting monetary policy committee later this week.
CBI director general Digby Jones warns today that businesses are becoming "increasingly impatient" for a cut, as they wait for recovery to take hold.

http://www.guardian.co.uk/business/s...992806,00.html

Rosy

Ta very much PB - when`s your settlement date???

pommie bastard

End of July so we hope , then my wife goes back on the 22nd of August I follow via Tokyo on 27nd of August.
We are renting a cottage in Kinver from the 1st of August , costing us 500 quid a month .

Florida_03

Oh well...I personally believe that that's a shame, but you know best and good luck with that.