Exchange rate: where is this going???
 

Dear all,

The Oz dollar exchange rate is going mad again. Since the announcement by the US senate, just 3 hours ago :ohmy: the rate has gone to $2.25 (up 5c) to £UK and climbing.

Realise that this is good for some and not good for others: anyone want to hazard an educated or not so educated guess where this is heading??

Twinset

Re: Exchange rate: where is this going???
 

If the US manages to pass the bailout bill in some form then the ex rate will probably fall back again.

If not, then the A$ will probably weaken further & quickly. However the 'if not' implications are much greater than the A$ ex rate so who knows what the rules will be. With the US economy on its knees why should money be flowing into the USD - disnae make sense!!

Re: Exchange rate: where is this going???
 

Crazy times......certainly seems that way: up 6c......to 2.26....

Re: Exchange rate: where is this going???
 

They didn't pass it...

Re: Exchange rate: where is this going???
 

Not this time around: but they will have to in some form: Dow down 7%, Nasdaq down 9%.

Have to say, never seen falls like this I can remember.

Re: Exchange rate: where is this going???
 

I don't think they will 'have to' .... Bailing an economy out is a mistake imo. Seems Congress agree.

Re: Exchange rate: where is this going???
 

Hmmm...trying to get my head around what may happen if they don't do a bail out...

On the weird side, our CEO went round the banks last week: his quote was "..and two of them no longer exist this week..."

Re: Exchange rate: where is this going???
 

wish i had a crystal ball for this one :p

i know nothing really about finanance but surley there must be reprecussions if the US government just wipe the slate clean???

what about all them greedy fat cats on wall st there to blame aren,t they?

they should be giveing there salaries and bonus,s back to the state :mad:

not much chance of that thouh hey?

just my 2p,s anyhoo right off my soapbox now :unsure:


Dougie

Re: Exchange rate: where is this going???
 

Agree and disagree, my fair lady! :) Bailing out will potentially stop meltdown but will not teach monetary responsibility or avoid fat cat payments in the medium to long term.

As for the exchange rate....tomorrow is a different day with a likely different picture.

Re: Exchange rate: where is this going???
 

I'm all for taking the fall and learning a few lessons. ;)

Re: Exchange rate: where is this going???
 

October 1987

Re: Exchange rate: where is this going???
 

Maybe he was born after that. ;)

Re: Exchange rate: where is this going???
 

Sadly, I was 20 - but much more interested in wine, women and song.......and the internet was a baby, the early version of Ebay was Noel Edmond's swap shop, and mobile phones were weighed in kilos...........:rofl::rofl: ......but bankers were still spelt with a "w" and loadsamoney was in vogue....

Roll on the next financial cycle

Re: Exchange rate: where is this going???
 

$2.50 by October 25th would be a good call for me. For selfish reasons I fly out to Oz on the 28th and the 26th is the only chance I will get to change my UK £ into $....:)

Re: Exchange rate: where is this going???
 

Theu don't have to but I think they will - in some shape or form. Maybe by the end of the week. they have got themselves into a real mess and have to get out of it somehow.

The recriminations and way forward can come later. I personally think that Obama is certain to be president because of this mess.