Its a gamble!!!!!!!!!!
 

does anyone no what exchange rates peaked at today and is it going to get better now that bushy's helped out fanny mae and porky pig banks.
:thumbsup:

Re: Its a gamble!!!!!!!!!!
 

Todays interanational bank rate £1 = $2.152

:blink::blink:

Re: Its a gamble!!!!!!!!!!
 

that can't be right its showing $2.19 just now i was wondering has it been higher than that today

Re: Its a gamble!!!!!!!!!!
 

Pass:confused::confused::confused:

Re: Its a gamble!!!!!!!!!!
 

The aussie dollar has taken a massive nose dive against the US/CND dollars Its lost approx 20% of its value in a month. :eek::eek:

Some economists think its been a massive over correction, others say it will continue to plunge. As always unless you have a crystal ball its like putting your life savings on a roulette table.

Re: Its a gamble!!!!!!!!!!
 

Im not interested in ustates dollar is it going to affect the pound:confused::curse:

Re: Its a gamble!!!!!!!!!!
 

No need for your cussing:curse: symbols.

I gave you a very simple explanation of why the aussie is moving up against the GBP. - the australian dollars movement against the USA dollar affects how it moves against other currency. Sorry I assumed you had a basic knowledge of currency movements.

Trying to find out where the aussie is going without knowing its position against the US dollar would be somewhat difficult dont you think?

Oh dear:rofl:

Re: Its a gamble!!!!!!!!!!
 

Re: Its a gamble!!!!!!!!!!
 

Just received this from OzForex:

Hi Renth,

Just a short note to let you know that the GBP/AUD rate opened today at a 5-month high of 2.1900. In volatile trade this morning, it briefly touched 2.2000. This represents an appreciation of 7.5 per cent compared to just seven weeks ago on July 23, 2008 when it was trading at 2.0470. The recent low was 2.0298 on June 4, 2008. The Australian Dollar has weakened significantly due to a strong U.S. Dollar and an end to the tightening cycle in official interest rates. Last Tuesday, The Reserve Bank of Australia cut interest rates for the first time in 7 years by 25 basis points to 7.00 per cent and has more than hinted at lower rates in a recent statement saying “with domestic demand slowing, the Board’s view is that scope to move towards a less restrictive stance of monetary policy in the period ahead is increasing”. Financial markets have taken the view that further moves down in interest rates are imminent.

The Pound could gain more strength against the Aussie from here but there is significant volatility and renewed weakness cannot be discounted.

If you have been holding off transferring Pounds against the Australian Dollar, you may wish to consider converting funds at these more attractive levels. Please contact us to book a rate or to discuss your requirements.

Kind regards,
OzForex Support
OzForex Dealers

Re: Its a gamble!!!!!!!!!!
 

I think you need another simple explanation to explain why the AUD has gone down against GBP over the last month ;) :rofl:

Re: Its a gamble!!!!!!!!!!
 

1/4 point interest rate cut probably.

Re: Its a gamble!!!!!!!!!!
 

Sounds more plausible :D

Re: Its a gamble!!!!!!!!!!
 

Yep, just received that same note, would be usefull to know time periods though ?? crystal ball anyone ?? within the next 2 weeks would be good as i've just bought a house :confused:

Re: Its a gamble!!!!!!!!!!
 

If the aussie drops that much on a .25 interest rate cut I would hate to see what the aussie is worth if

we get a bunch of rate cuts. ;) :eek::eek::eek:

Re: Its a gamble!!!!!!!!!!
 

Don't worry. The big drop in the AUD against the USD (or rather the large rise in the USD against a bunch of currencies) was nothing to do with the .25% RBA rate cut. The rate cut only caused a small drop. :thumbup: