Is the GBP stuck at 2.07 forever???
 

Well is it? It has not changed pretty much from this figure for ages, apart from the off foray down to 2.03ish. We were told it would gather strength towards xmas..yeah right. perchance the royal 'ding will see gogals of GBPs bought and we will see a rally on the quid? No movement insite of the kiwi losing steam and S and P about to devalue NZ's whatever it is about to be downgraded..summat to do with the currency?

Re: Is the GBP stuck at 2.07 forever???
 

Frustrating to be sure. I'm too lazy to look this up so maybe someone can tell me. I know the NZ$ is strong, but is the other problem how weak the £ is? I'm hoping to earn some US$. Would this be preferable to earning £?

I think the UK will continue it's usual boom bust cycle in due course. Will this lead to a strengthened pound in the next year or two? Will a crystal ball reader please step forward!:lol:

Re: Is the GBP stuck at 2.07 forever???
 

They reckon after the debacle with Eire's fiscal woes that the days of the Euro are numbered. Will this be good or bad for the pound..who knows. I am sure though that as you suggest these things are cyclical and I do feel that one day 9don't hold your breath) the pound will bounce back a wee bit.

Re: Is the GBP stuck at 2.07 forever???
 

We were commenting at work last week on how the sterling-NZD cross was staying so constant given all the other volatility, and our expert indicated there is nothing fundamentally holding the two currencies together so in some ways its just a random association that has gone on for a few months now.

The lamb that we sell to the UK is a small part of NZ Inc's exports and an even smaller part of UK's imports, so it is not trade related.

Re: Is the GBP stuck at 2.07 forever???
 

Or is this the new median rate for the GBP for the forseeable future??????

Re: Is the GBP stuck at 2.07 forever???
 

No theres plenty of time for it to drop even lower yet.:p

Re: Is the GBP stuck at 2.07 forever???
 

Thought you'd done one? The site is addictive eh???:eek:

Re: Is the GBP stuck at 2.07 forever???
 

Man i need to get out more !! :p

Re: Is the GBP stuck at 2.07 forever???
 

Me too. I Could also do with a life!!

Re: Is the GBP stuck at 2.07 forever???
 

No its not. Its just gone into the 2.08s

Re: Is the GBP stuck at 2.07 forever???
 

No, my main point is that the UK and NZ currencies are not particularly related to each other, except in the mind of a few tourists and immigrants. Where it matters is trade and investment flows, and the pound and kiwi are only related to each other through the 'crosses' with other major currencies such as the USD, JPY and AUD (the last for NZ). Trying to say there is a long term median or average is a fallacy - if there is any relationship it will only be spurious due to many, many other factors.

The world is also a very different place to what it has been for the last 20 years, QE and related commodity price inflation are seeing to that.

Re: Is the GBP stuck at 2.07 forever???
 

It's a fair argument, what's key is their trade weighted performances. NZ$ is above it's norm, for how much longer, most of the so called 'experts' reckon it's 15-20% over valued.

Re: Is the GBP stuck at 2.07 forever???
 

.... like $2.05 today :frown:

Re: Is the GBP stuck at 2.07 forever???
 

http://www.bbc.co.uk/news/business-11998364

This has got to have an effect soon! The big expected unemployment rises are not even due to start until next years redundancies are announced in the public sector..........:eek:

Re: Is the GBP stuck at 2.07 forever???
 

Sure no doubt, but in reverse the NZ govt's current deficit can hardly be good news either, especiallly with limited efforts to reduce it.