Genesis

The kiwi has fallen to 2.05 for a pound. It looks like there could be a way for it to fall yet. Greece imploding, and possibly leaving the Eurozone along with falling interest rates, falling commodity prices etc will hopefully wreak havoc on the overvalued kiwi$. Add to this the political unrest in Europe and we are set for a potentailly perfect storm to bring the irksome currency's value into line. Time will tell. On the downside TVs and petrol in NZ will all go up.

Stormer999

We were all keeping very stum and hoping no one was going to spoil it....

Catchafire

All these factors will have the opposite effect you desire Genesis.

Greece is the obvious bad apple, but Ireland, Portugal and Spain are currently tottering on the brink of economic disaster. Spain in particular makes the Greeks problems look like a small drop in the ocean.

Anymore "bailouts" will undermine confidence in the Euro.

So whilst the NZD/EUR is down against its high's this year, I do not expect to see any great devaluing any time soon.

But of course I do not have a crystal ball, so all the above could be bollocks!

Genesis

Not what the 'clever' people are saying. I am merely passing on their info, I know nothing of forex and that is why I have made so many poor choices. The financial spokes people are all of the opinion that all the factors that prevail will see the kiwi devalue, you can't argue with facts. The kiwi has seen a 15 cent drop agin the pound in just the last few weeks. It has lost 2-3 cents in the last 24 hours. As you say no one knows for sure as there are no guarantees but there are factors that will affect the kiwi.

sparkie down under

aren't the ones that started this mess

Genesis

Apparently greedy estate agents and feckless mortgage lenders did in the US. Bastards!! But I know what you mean!

Robbo25

Feeling a lot better about blowing money on a ridiculously complicated TV now

babybella

Theoretically what should happen is in times of economic instabilitity (ie whats happening in Europe). Currencies such as the kiwi dollar are viewed as a risky option. So investors pull out their money and park it in solid currencies such as the pound and US dollar.
Well I hope that is the trend we are on cause all our dosh is in £ and I want to change it into dollars.
Kaz

Genesis

http://www.interest.co.nz/currencies...local-data-eu-

Here is the link about what is causing the fall.

Genesis

Mmm, strange thing is gold is falling too. What is happening is the kind of thing that would have sent it up not down. People turning to 'real assets' in times of unrest. Weird. But what do I know about all this? Zilch.

Genesis

What rate would you strike at? I am thinking of hedging my bets and doing 40% of it at 2.10 (if it gets that high) and leaving the rest to see what occurs.

pcmay10

watch the movie called Margin Call good movie tells how all this mess came about..

babybella

That is about the rate we are looking at changing enough for a deposit. Don't want to jinx but think 2.10 is realistic within a few weeks. The rest we may hold out until 2.50 which is around the historical value point. It could settle higher or lower but around 2.50 is where I will cash up. At the end of the day, playing the markets is just a gamble.
Kaz

Genesis

I would be very surprised if we see 2.50 again, I have loads riding on the fortunes of the forex rate but I would be amazed if we ever saw 2.50 again. I just think it is nigh on impossible. I so want to be wrong!!!! I would be amazed if we see 2.15 in the next few months. Then again I NEVER thought we would see sub 1.90...so there you go!!

ellenarosemary

As Genesis says its strange in these times when people normally invest in tangible assets e.g. gold, silver, platinum and palladium that these prices are falling quite alarmingly. Mind you its a good time to invest in these as if you look at the charts the overall figures for the last 5 years is still on the up - and it will go up again given time.

ps. to anyone who thinks I dont know what I'm talking about I currently work for a Bullion company. When gold hit £1100 per troy ounce, we were so busy it was unbelievable, now its in the toilet, its really quiet when people should be buying - nothing as strange as investors!!