DownUnderPaddy

GBP/AUD down to 2.018 now.
Could we see 1.99 soon ?

DownUnderPaddy

wow...almost happened today, got down to 2.003 !
Thats just been a rock steady decline over the last 10 days.

Is it all down to the new data coming out on the declining state of the UK finances ?
http://in.reuters.com/article/ukPoun...47606520090721

...coupled with the ongoing positive news for the Aus economy ?
http://www.bloomberg.com/apps/news?p...d=a7j1sczcdy84

MartinLuther

You can tell I just bought some £s

Expect the UK stock market to crash sometime next week

DownUnderPaddy

1.99 - Today's the day surely !

http://ibtimes.com.au/articles/20090...commentary.htm

Sooty and Sweep

http://www.theaustralian.news.com.au...99-601,00.html

Could see 1.8:1 hey,


THE Rudd government is preparing voters for a series of interest rate hikes ahead of the next federal election as money markets expect official rates to rise by almost 1 per cent within the next 12 months.

DownUnderPaddy

Well, a month on and its at 1.94 today, so still trending down.
Meanwhile, the economy is geting stronger, interest rates will be going up, house market is on the rebound with prices climbing again.

I still reckon the GBP/AUD has room to keep tracking down for a while.....

MrCro

it's touched into the 1.93's - when will this end??

Could do with a repeat performance of last Sept/Oct - if only!!

Safin

dunno about 2.5 more like 1.5 at this rate.

dugongs

I was convinced we had bottomed at 1.95 and opened a spreadbet buying aussie but looks like I caught the knife as this is going down further in the short term. I may lose money on this one but you never know it looks so overbought to me right now. Baltic dry index falling for a while now. Next week should be interesting.

Interest rate announcement Wednesday in Oz is the day as cannot help thinking the commentary may try and calm the waters a bit. They will have seen the GDP number to be released the next day. The figures have been better recently but are they going to start raising interest rates in oz as early as october which the market is starting to price in. I think the central bank will want to see what happens in q3/q4 as the handout monies fade away and if homes sales hold up once the first home owners grants steps down end of September.

MrCro

I bought on a spread bet at 1.96 hoping was the bottom too! So my account looked less than healthy friday night, i really hope £ is oversold and makes a recovery in early week trading!

dugongs

Hopefully going to bounce a bit now. Good article out of london discussing the current position below. It is hard to get perspective reading the aussie press so full of chest puffing pieces but general view seems to be GDP figures were overstated and will be revised down in due course. As/if DOW comes off 10% then aussie may see 2.20 ? Going to keep that bet open for a bit see how it runs.


http://www.cityam.com/markets-and-in...fh29fig5l.html

dugongs

Here is another recent short video from the FT - its the one dated 2 Sep titled Exit Strategy which talks about the aussie economy and the dollar.

Very interesting re the chart tracking commodity prices and aussie dollar. If there are problems in the DOW in September the aussie could fall back. Worth watching over the next couple of months.


http://www.ft.com/cms/bfba2c48-5588-...0779fd2ac.html

MrCro

my spread bet staying open at 1.96 too, refuse to take a loss when getting in at such a level! (I stood the pain as low as 1.9250 so will ride it out!)

2.20, blimey that would pay well not to mention how much more my actual money would fetch!

still a long way off the 2.60 that haunts me from last Oct but think that may haunt me for a long, long time unless the W or double dip recession hits!

jimbo_d

Until Britain has a change of government and interest rates are raised there will be no chance of the pound rising against the dollar, especially as Aus looks like raising their interest rates in the near future. It's a pain as i've some money I want to bring over, but i'd rather wait a couple of years than lose x thousand on the deal

rinkerdink

haven't a clue what you're all talking about but wish I did!