Matelot

I would imagine the Euro's days are numbered in the peripheral states. Looks like Greece is having trouble forming a government following the recent elections.

Charismatic

Past performance does not necessarily indicate future results etc. etc.

The unwillingness of the Eurozone to fix it's leaky hull rather than continue to bail out water is alarming however. Everything is a short term fix leading to vastly different levels of income within the Eurozone. There will be no one left to pay taxes in Ireland, Greece, Portugal and Spain if this austerity/recessionary cycle continues.

Genesis

$2.07 now. Wonder where this is going? The UK have some figures out this week and the talk is that the GBP will not get any stronger anytime soon. Totally agree. But this is about the kiwi losing ground for all the reason that have been mooted in this thread. I wonder if there will be lots of people selling their Euros and buying pounds? At present people in Greece are taking their money out of the Greek banks (before they all go pop) by the car load and physically driving it to Germany where it will be safe. BUT had a bright euro person done this a while back and driven a wee bit further to the Uk their Euros would be worh about another 9-10% in less than 1 year...plus the 2% odd they would have got in the bank. Not a bad return eh? Will the Olympics see a huge buy up of pounds and some strength there? Interesting times for those with pounds.

Snap Shot

It's not far behind the 2.11 we bought for in February 2011. Pound not getting any stronger ? Blimey, it's gone great guns in the last fortnight. Hopefully the Olympics 'should' be a good moneyspinner. The NZ rugby world cup wasn't the commercial success that a lot of businesses wanted it to be.

I prefer a stong NZ dollar myself........

Genesis

You wouldn't if most of your cash and pension fund was in GBP's!!! An overly strong currency is bad for a country in the long term. You don't want it to be overly weak OR strong. The kiwi is and has been wildly overvalued, look what happened to the subprime market in the US when that overheated and its value was way out of kilter with the real world. Bubbles pretty much always deflate eh? We live in strange times and who 3 weeks ago when the quid was around 1.90 (and occaisionaly lower) that it would be at over 2.07 today?

Snap Shot

Yeah, I realise it's not good for the NZD on the whole to be high as it affects exports and therefore jobs and the economy overall.

In your particular circumstances which regular readers of your posts will be well versed with I accept you want a strong pound.

What was that game show where the audience would shout out either, 'higher ! higher !' or 'lower ! lower !'

Earlier this year 1NZD would buy 53p, I calculated we could return to the UK up on the deal. Presently, 1NZD would buy 47p. So, you could do what you need to do on a strong pound, then anyone who could benefit from a strong dollar gets that later. Keeps it fair ? No ?

Is your next post going to contain the words Hannover Finance ?

The currency markets will follow their own pattern. I'll just have another cup of tea.

Genesis

Talk about cashing in, if we could get what the RV on this place is (highly doubtful) we could return to the UK quite cashed up!!! We changed loads at 2.64 back in 2005....recently it was as low as 1.87ish. And indeed there are winners on both ends of this forex stuff..those going to the Uk are laughing all the way to the bank and those coming to NZ are not getting a very good deal if they need to cash lots of pounds in for the still (even at 2.07) very inflated kiwi$. Enjoy that tea.

Catchafire

$ is trending up again!

http://www.bbc.co.uk/news/business-18377482

Spain is about to become a BIG problem for Europe.

florabundi

Watching to see what happens anxiously ~ if it is a decent rate I might just transfer it all and be done with it before the end of the month

Justcol

Out of curiosity what rate would you be happy to exchange at ?
You've waited a long time for the markets to swing into a favourable trend but by the time
it reaches a decent rate again the current rocketing cost of living increases will probably cancel
out any gains you've made on paper.

florabundi

I would have exchanged at 2.09 but the house hadn't completed. If I can secure 2.09 or 2.10 I would be delighted. Not exactly dizzy heights but I would like to bring our funds with us when we come over end of July or maybe start of Aug and just have a clean break. It seems tempting to hang on and on but I think the stress could take it's toll!

Justcol

I know there's a temptation to hang on endlessly for a better rate but its not going get much better than it is now for a long time.
everyone says this will effect the rate or that will effect the rate but what difference have we seen......next to nothing.
I changed at 2.70 ish and could have spent forever clinging to the hope of a few extra cents while watching the markets plummet
but still listening to all the clap trap from so called experts who's advice TBH has been proved to be complete bollocks.
I think its best to make the break and start without all the stress and hassle of constantly watching the forex rates and
getting worked up over a couple of cents

Genesis

Kate and I have just cashed in 25 odd years of UK pensions at 2.08159. We had waited for almost a year since getting the payout and we got half of it when it the dollar was at 1.98 and the other half when it was $1.95, so to wait and get that (whilst terrible against the 2.64 we got in 2005) we felt was as good as its going to get, in both the short and medium term. I am delighted to say that for once my choice appears to have been well timed as the $ has firmed quite a bit since. Still leaving our UK cash where it is though as I wanted to hedge our bets. One day we may see $2.20ish..who knows?

Justcol

I love your optimism

scrubbedexpat094

Hey I'm hoping it goes to $3.06 again around September .