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Dire Prognostications!

Dire Prognostications!

Old May 5th 2010, 2:26 am
  #16  
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Smile Re: Dire Prognostications!

GBP may be rubbish but this devaluing makes British labour much more competitive. This is vastly preferable to the PIIGS problem where they can’t set their own interest rates or turn on the money taps.

It would have been an interesting experiment in the past to say “Let’s tie these very different economies (with only a small trade overlap) to the same interest rate and see what happens”, alas it’s one of those experiments where the results where as you might have predicted.
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Old May 5th 2010, 5:02 am
  #17  
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Default Re: Dire Prognostications!

Originally Posted by irnbru14
Maybe a good time to transfer some cash to my UK account!
Exactly it's not at all bad if you want to move dollars back.
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Old May 5th 2010, 12:53 pm
  #18  
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Default Re: Dire Prognostications!

Originally Posted by Psychopandy
Its only doing it to P*** us all off - there's no other reason for it to be this bad - is there????
Can't comment for pound really, however Greece, Spain, Portugal, etc. are not helping much on euro. So what I considered a poor rate at 2 NZ$ per 1 EUR is now at 1.8 NZ$. And it was 2.5 last year. The property I looked in NZ last year is so 20% more now. And rate is still going down

Just for you to feel better, it is not only pound.
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Old May 5th 2010, 1:06 pm
  #19  
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Default Re: Dire Prognostications!

well i saw a report on BBC news, two nights ago, where money men were talking about, greece and that the euro will be coming down and any one with money in euros sell because the sterling in going back up, so only time will tell
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Old May 5th 2010, 1:11 pm
  #20  
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Default Re: Dire Prognostications!

Well if it's any consolation for other people I just moved quite a bit of money from the UK to NZ so the rate is bound to improve over the next couple of weeks
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Old May 5th 2010, 3:49 pm
  #21  
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Default Re: Dire Prognostications!

Originally Posted by FrequentFlyer
It seems to have averaged around the 2.56ish
Check the charts, the long term trend (say 10yrs), has been down and it has averaged only 2.4 in the last year....
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Old May 5th 2010, 7:11 pm
  #22  
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Default Re: Dire Prognostications!

Originally Posted by simonsi
Check the charts, the long term trend (say 10yrs), has been down and it has averaged only 2.4 in the last year....
Around 2005 the 10 yr median was apparently c 2.7 ish.
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Old May 5th 2010, 7:14 pm
  #23  
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Default Re: Dire Prognostications!

Originally Posted by concretepump
well i saw a report on BBC news, two nights ago, where money men were talking about, greece and that the euro will be coming down and any one with money in euros sell because the sterling in going back up, so only time will tell
Thats what I thought. The euro is sooooooooooooooooooooo knackered. From 1.05 just a few weeks ago (almost 'parity territory') to today and just off 1.18. The euro will be dumped and other currencies along with the GBP will be bought and the GBP will increase in value if only because of europe's currency is in tatters just now.
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Old May 5th 2010, 7:45 pm
  #24  
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Default Re: Dire Prognostications!

The euro will be dumped and other currencies along with the GBP will be bought and the GBP will increase in value if only because of europe's currency is in tatters just now.
Let's hope so but there is another theory that the GBP would just go the same way as the euro....................


...down the gurglar
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Old May 5th 2010, 10:59 pm
  #25  
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Default Re: Dire Prognostications!

Originally Posted by zaras dad
Let's hope so but there is another theory that the GBP would just go the same way as the euro....................


...down the gurglar
Yeah that would be right. But let's go with a mantra along the lines of 'the pound is strong..the pound will rise.....blah blah blah'. We all know which way it will go if only because I have a few quid in the UK.
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Old May 5th 2010, 11:27 pm
  #26  
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Default Re: Dire Prognostications!

Originally Posted by zaras dad
Let's hope so but there is another theory that the GBP would just go the same way as the euro....................


...down the gurglar
Oh dear. Much to the delight of Pestman that is where it appears to be going. Its heading for 2.06 with a spring in its step. Bollocks.
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Old May 6th 2010, 12:04 am
  #27  
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Default Re: Dire Prognostications!

Originally Posted by MattandJax
Well if it's any consolation for other people I just moved quite a bit of money from the UK to NZ so the rate is bound to improve over the next couple of weeks
Thank you for being helpful in that case.
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Old May 6th 2010, 8:59 am
  #28  
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Default Re: Dire Prognostications!

Originally Posted by Charismatic
It would have been an interesting experiment in the past to say “Let’s tie these very different economies (with only a small trade overlap) to the same interest rate and see what happens”
It was called the ERM, Exchange Rate Mechanism. Black Wednesday was the result for us. Norman Lamont presided.
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Old May 6th 2010, 11:22 am
  #29  
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Default Re: Dire Prognostications!

Obviously euro is in free fall stage. And place still unsold I can just wonder what we will be able to transfer to NZD. Rate is at 1.73.
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Old May 7th 2010, 12:27 am
  #30  
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Default Re: Dire Prognostications!

Personally, I wouldn't write the euro off just yet. The eurozone economies certainly face challanges, but they are also one ofthe largest trading blocks on the planet. I doubt very much the stronger economies of Scandinavia, Germany France etc will allow it to fall too far (hence the Greek bail out).

Britian on the other hand, is all alone. Lets just hope that whichever team of monkey's get the keys to 10 Downing Street, some measure of confidence is returned to Sterling and the pound will stop with these historic lows against the Kiwi. It feels like we can't move forward with our plans until things improve. Very frustrating.
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