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Is the GBP stuck at 2.07 forever???

Is the GBP stuck at 2.07 forever???

Old Nov 25th 2010, 5:08 pm
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Default 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?
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Old Nov 25th 2010, 5:13 pm
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Default 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!
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Old Nov 25th 2010, 6:43 pm
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Default Re: Is the GBP stuck at 2.07 forever???

Originally Posted by jmh View Post
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!
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.
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Old Nov 25th 2010, 11:56 pm
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Default 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.
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Old Nov 26th 2010, 12:46 am
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Default Re: Is the GBP stuck at 2.07 forever???

Originally Posted by southerner View Post
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.
Or is this the new median rate for the GBP for the forseeable future??????
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Old Nov 26th 2010, 1:54 am
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Default Re: Is the GBP stuck at 2.07 forever???

No theres plenty of time for it to drop even lower yet.
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Old Nov 26th 2010, 2:46 am
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Default Re: Is the GBP stuck at 2.07 forever???

Originally Posted by colandros View Post
No theres plenty of time for it to drop even lower yet.
Thought you'd done one? The site is addictive eh???
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Old Nov 26th 2010, 3:40 am
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Default Re: Is the GBP stuck at 2.07 forever???

Man i need to get out more !!
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Old Nov 26th 2010, 4:22 am
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Default Re: Is the GBP stuck at 2.07 forever???

Originally Posted by colandros View Post
Man i need to get out more !!
Me too. I Could also do with a life!!
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Old Nov 26th 2010, 9:57 am
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Default Re: Is the GBP stuck at 2.07 forever???

No its not. Its just gone into the 2.08s
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Old Nov 26th 2010, 7:28 pm
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Default Re: Is the GBP stuck at 2.07 forever???

Originally Posted by Genesis View Post
Or is this the new median rate for the GBP for the forseeable future??????
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.
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Old Nov 28th 2010, 9:29 am
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Default Re: Is the GBP stuck at 2.07 forever???

Originally Posted by southerner View Post
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.
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.
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Old Dec 4th 2010, 4:59 am
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Default Re: Is the GBP stuck at 2.07 forever???

Originally Posted by colandros View Post
No theres plenty of time for it to drop even lower yet.
.... like $2.05 today
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Old Dec 15th 2010, 11:40 am
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Default 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..........
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Old Dec 16th 2010, 9:35 am
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Default Re: Is the GBP stuck at 2.07 forever???

Originally Posted by Stormer999 View Post
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..........
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.
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