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The currency market.

The currency market.

Old Mar 19th 2009, 9:12 pm
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Default The currency market.

Its one area of migration thats really important to maximise your $ when coming over. Is it just me but when ever I buy NZ$ it always goes against me (or any other currency), recently bought at 2.75 and in 3 days it went to 2.85!!!! Then I decided not to buy at 2.85 as it had been mooted that the kiwi was on a downward trend (for a variety of reasons) and it was likely to go well over the 3 mark. What did it do? Got in the express elevator and is now just a matter of a few weeks later languishing at the 2.60 mark. You know that had I bought at 2.85 it would have gone to 3 don't you? Its bloody annoying that whenever I do FX deals (without exception!!) it always goes against me..and I don't do it to try to make $$ I do it becasue I need the currency to spend. Bloody frustrating that in all the years I have done it I have never ever 'got it right' !!! Moan over.

Nice but Dim Dom
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Old Mar 19th 2009, 11:40 pm
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Default Re: The currency market.

Currency transactions are governed by the same law that dictates that toast always falls buttered side down, breakdowns occur the day after the warranty expires and any wire cut to length will be too short.
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Old Mar 20th 2009, 3:11 am
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Default Re: The currency market.

Originally Posted by Trenchfoot View Post
Currency transactions are governed by the same law that dictates that toast always falls buttered side down, breakdowns occur the day after the warranty expires and any wire cut to length will be too short.

That being the 'law of sod'. Glad I don't appear to be the only unfortunate twat who is royaly shafted each and every time I do an FX deal. It a right pain innit??
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Old Mar 20th 2009, 3:16 am
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Default Re: The currency market.

Originally Posted by Genesis View Post
That being the 'law of sod'. Glad I don't appear to be the only unfortunate twat who is royaly shafted each and every time I do an FX deal. It a right pain innit??
Hey don't feel too bad ....I made the same call - DOH!
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Old Mar 20th 2009, 3:22 am
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Default Re: The currency market.

Originally Posted by Genesis View Post
That being the 'law of sod'. Glad I don't appear to be the only unfortunate twat who is royaly shafted each and every time I do an FX deal. It a right pain innit??
No, you are far from alone. When the dollar/pound jumped to over 2.54 last year I rushed to buy and was delighted to get 2.66. A week later it was at 2 point bloody 8-something; nearly 20 cents different. :curse:

I've stopped looking at the exchange rates now. I don't need the raised blood pressure.
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Old Mar 20th 2009, 4:57 am
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Default Re: The currency market.

Originally Posted by Trenchfoot View Post
No, you are far from alone. When the dollar/pound jumped to over 2.54 last year I rushed to buy and was delighted to get 2.66. A week later it was at 2 point bloody 8-something; nearly 20 cents different. :curse:

I've stopped looking at the exchange rates now. I don't need the raised blood pressure.
I can beat that. Cashed in 20 years UK housing equity at $2.64 March 2005. Jan 2006 it was over $3!!!!!! The point is this can always (AND DOES) happen, BUT perchance it would have been a tad prudent for me to have initially only done 30% of my wedge at $2.64 and waited a while? They reckon the 10 year median is around $2.78. Anyways at least this time I only did that 30% of whats left in the UK bank. Thus only stuffed myself to a degree!!!!!!!!!!!!!!!!!:curse:
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Old Mar 20th 2009, 5:11 am
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Default Re: The currency market.

you and me both, and it used to happen in pre euro days as well
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Old Mar 20th 2009, 5:20 am
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Default Re: The currency market.

So Dom, let us all know when you next exchange your dosh and we can wait to see the rate improve for us

In response to that, I will let you know whenever I fill my car with petrol cos [email protected] law is that the next day the price always goes DOWN!
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Old Mar 20th 2009, 5:57 am
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Default Re: The currency market.

Originally Posted by cappuccino View Post
So Dom, let us all know when you next exchange your dosh and we can wait to see the rate improve for us

In response to that, I will let you know whenever I fill my car with petrol cos [email protected] law is that the next day the price always goes DOWN!

You know the motto about a fool and his wedge being soon parted....we were! I have been utterly and totally spectacularly CRAP with money matters ALL thru' my life. I can lose it on the stock market, FX deals, poor choice of motor, wrong deal at the wrong time, failed finance cos (quite a pearler the latter there!!!!) oh and don't foget having the worst performing endowment co. in UK!!!! So there you go. Fortunately I have expensive taste in nothing but fiscal loss!!!!!
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Old Mar 20th 2009, 6:28 am
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Default Re: The currency market.

Originally Posted by Genesis View Post
I have been utterly and totally spectacularly CRAP with money matters ALL thru' my life. I can lose it on the stock market, FX deals, poor choice of motor, wrong deal at the wrong time, failed finance cos (quite a pearler the latter there!!!!) oh and don't foget having the worst performing endowment co. in UK!!!! So there you go. Fortunately I have expensive taste in nothing but fiscal loss!!!!!
...and dont forget you bought a house in Palmie North too! ROFLMAO

(Just kidding)
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Old Mar 20th 2009, 9:22 am
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Default Re: The currency market.

Originally Posted by Browner_ View Post
...and dont forget you bought a house in Palmie North too! ROFLMAO

(Just kidding)

Well now, thats one of the more prudent things I have done!! Not from a fiscal standpoint I grant you. This house is in NO way is representative value wise what we have sunk into it from a $ point of view....BUT we are utterly content with this odd build on a gully section, we have made fantastic mates as a result of this house and even if I won the lottery tomorrow I would not leave this tiny slice of 1200 mts of joy we have here. I still find it hard to believe I have found such unbridled joy in this gaff, mind you I have the 2 things I always wanted in a house in the UK..the pool and the integral garage. I have finally arrived!!!
..sad innit??
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Old Mar 20th 2009, 9:41 am
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Default Re: The currency market.

Dunno about the current markets at all. We don't have any ££ left over at all. When we came here, we cashed in all our equity and savings to help buy a house & we still have a mortgage.
We've lived on the kiwi $$ for nearly 5 years now with no cushion and that is at 50 yrs + in my case.
So, for us the market means nothing except in terms of our current net worth. We certainly don't have anything salted away to bring over as and when.
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