GBP crisis...yawn

Old Mar 21st 2010, 11:39 pm
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Default Re: GBP crisis...yawn

Originally Posted by rushmere View Post
Here's a chart of the £ against the NZ dollar for the past 10 years.

Spot any trend?
is that sterling getting weaker or NZ$ getting stronger? What would the NZ$ graph Vs the Euro or US$ look like?
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Old Mar 21st 2010, 11:46 pm
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Default Re: GBP crisis...yawn

Originally Posted by Cape Blue View Post
is that sterling getting weaker or NZ$ getting stronger? What would the NZ$ graph Vs the Euro or US$ look like?

Go to the HIFX banner on the front page of BE. Then click on 'market watch'. Then go to 'currency charts', then you chose what currency you want under 'instruments' at the top left of the graph. Then click on 'timescale' for the depth of time you wish to depress yourself with!!

Last edited by Genesis; Mar 21st 2010 at 11:48 pm.
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Old Mar 21st 2010, 11:47 pm
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Default Re: GBP crisis...yawn

Originally Posted by Cape Blue View Post
is that sterling getting weaker or NZ$ getting stronger? What would the NZ$ graph Vs the Euro or US$ look like?
This is the Euro against the NZ$ over 10 years....
Attached Thumbnails GBP crisis...yawn-euro.jpg  
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Old Mar 21st 2010, 11:49 pm
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Default Re: GBP crisis...yawn

Originally Posted by Cape Blue View Post
is that sterling getting weaker or NZ$ getting stronger? What would the NZ$ graph Vs the Euro or US$ look like?
...and this is the US$ against the NZ$
Attached Thumbnails GBP crisis...yawn-us.jpg  
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Old Mar 21st 2010, 11:49 pm
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Default Re: GBP crisis...yawn

I reckon over the next 12mths the better firm interest earned will more than beat any addition to the capital via a better exchange rate, and IMHO the risk over the next 12mths is all on the downside for the exchange rate.

The trick is to make a decision then stop checking the rate - unless you keep checking house prices at all your old addresses too
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Old Mar 22nd 2010, 12:46 am
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Default Re: GBP crisis...yawn

Originally Posted by simonsi View Post
I reckon over the next 12mths the better firm interest earned will more than beat any addition to the capital via a better exchange rate, and IMHO the risk over the next 12mths is all on the downside for the exchange rate.

The trick is to make a decision then stop checking the rate - unless you keep checking house prices at all your old addresses too
Over a year on the amount we would exchange (taking 2.1 as the rate) would be $21k before tax at 20% in NZ, just over $7 k in the UK . That is the difference betwixt 2% ain the Uk and 6 % here. So that is $14k better off over a year if we do it now. Not much really when you consider if it rallies to $2.3 I mentioned we would be about $40k better off. I think the more I ponder this I am in Kate's camp..hang on. I know there is risk but its worth it..especially if one does not need the cash for start up costs..if I was emigrating I would just do it as I would need to. I don't so I won't. The GBP has recently rallied to the 42.3 mark..why not again. Lets all talk up the GBP.
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Old Mar 22nd 2010, 1:38 am
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Default Re: GBP crisis...yawn

Originally Posted by Genesis View Post
Over a year on the amount we would exchange (taking 2.1 as the rate) would be $21k before tax at 20% in NZ, just over $7 k in the UK . That is the difference betwixt 2% ain the Uk and 6 % here. So that is $14k better off over a year if we do it now. Not much really when you consider if it rallies to $2.3 I mentioned we would be about $40k better off. I think the more I ponder this I am in Kate's camp..hang on. I know there is risk but its worth it..especially if one does not need the cash for start up costs..if I was emigrating I would just do it as I would need to. I don't so I won't. The GBP has recently rallied to the 42.3 mark..why not again. Lets all talk up the GBP.
Think we are going to transfer our remaining GBP over now as don't want the risk.

Like I said previously, when we went to Oz the general consensous was that unless you had to transfer, then wait as it should get better in the next 12 months. We transfered GBP to AUD at 2.21 but 12 months later it was 1.64 so I'm bloody glad we did transfer!

Even at 2.12 GBP/NZD that aint bad. If we leave it another year and the same thing happens with the NZD then we would lose $12k!
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Old Mar 22nd 2010, 2:16 am
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Default Re: GBP crisis...yawn

Originally Posted by AndyR View Post
Think we are going to transfer our remaining GBP over now as don't want the risk.

Like I said previously, when we went to Oz the general consensous was that unless you had to transfer, then wait as it should get better in the next 12 months. We transfered GBP to AUD at 2.21 but 12 months later it was 1.64 so I'm bloody glad we did transfer!

Even at 2.12 GBP/NZD that aint bad. If we leave it another year and the same thing happens with the NZD then we would lose $12k!
I can see your point but I like a bit of risk aye? Anyways ..what ever I do will be wrong..fecked if I do fecked if I don't..so I will leave the choice to the good lady wife..its her inheritance after all..all my money went to those poverty stricken finance magnates at Hanover. I rest easy knowing they need it waaaaaaaaay more than I do..one of them is building a 30 million house..my $100k must be coming in really handy for say a sink, a work top or a few door handles. God I wish those blokes some really, really baaaaaaaaaaaad karma.
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Old Mar 22nd 2010, 2:22 am
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Default Re: GBP crisis...yawn

Originally Posted by AndyR View Post
Think we are going to transfer our remaining GBP

Even at 2.12 GBP/NZD that aint bad.



You are right, it ain't bad. Its the worstest worstest worstestest it has ever ever ever been. It may look good when it goes below 2 to the pound but just now you could not get worst rate..ever. Maybe apart from tomorrow. But it is not good just now.
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Old Mar 22nd 2010, 2:45 am
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Default Re: GBP crisis...yawn

Originally Posted by Genesis View Post
You are right, it ain't bad. Its the worstest worstest worstestest it has ever ever ever been. It may look good when it goes below 2 to the pound but just now you could not get worst rate..ever. Maybe apart from tomorrow. But it is not good just now.
I know. We had a family friend move to NZ years and years ago and they got nearly 3 GBP/NZD at the time.

I'm only going on my last experience with a currency exchange and how if I had waited we would have lost a serious amount of dosh. As it was we waited 3 months anyway and lost $5000AUD doing that.

Horrible isn't it though. Lose money when you earn it/taxed on it/save it/spend it/convert it. Dammed if you do, dammed if you don't.
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Old Mar 22nd 2010, 4:52 am
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Default Re: GBP crisis...yawn

Originally Posted by AndyR View Post
I know. We had a family friend move to NZ years and years ago and they got nearly 3 GBP/NZD at the time.

I'm only going on my last experience with a currency exchange and how if I had waited we would have lost a serious amount of dosh. As it was we waited 3 months anyway and lost $5000AUD doing that.

Horrible isn't it though. Lose money when you earn it/taxed on it/save it/spend it/convert it. Dammed if you do, dammed if you don't.
Well looks like you have the right idea mate...its plumbing towards 2.10. How friggin' stuffed are we, those who hold bastard pounds and live elsewhere hoping to change our UK money? Two really, really good bits of info last week for the UK re unemployment and decreased borrowings..yet the pound continues to be all but worthless. Well the vista looks clear to me. Soon we will have parity with the pound...one for one by xmas?? Now if I can get Kate to see the writing on the wall...I am sick of this and want out. Who cares if its $2.50 after the election..we know it won't..more like 1.50.
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Old Mar 22nd 2010, 4:54 am
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Default Re: GBP crisis...yawn

Originally Posted by Dewb09 View Post
2.12 its like watching a slow car crash

Dewb
Its now like a really fast train crash..I mean REALLY fast. It loses gound with every bloody hour!!! SELL YOUR GBPs..abandon ship!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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Old Mar 24th 2010, 10:29 pm
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Default Re: GBP crisis...yawn

Well the budget seems to have caused the GBP to drop even further today
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Old Mar 24th 2010, 10:34 pm
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Default Re: GBP crisis...yawn

Originally Posted by simonsi View Post
Well the budget seems to have caused the GBP to drop even further today
lalalalalalalalalalalallalalalalalalllalalalalalal alalalalalalalalalalalalalalalal
cant hear you

apologies not feeling very grown up today

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Old Mar 24th 2010, 10:38 pm
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Default Re: GBP crisis...yawn

LOL!!!

I was very impressed at how the children played in parliament, scoring (or trying to), the same points off each other while the currency faltered.

I am going to take so much pleasure in note voting for any of them - just wish there was something more positive to do.... now who looks most suitable for a protest vote????
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