NZ$ vs £

Old Jun 22nd 2007, 5:15 am
  #166  
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Default Re: NZ$ vs £

Or what about Jersey!!!! Tax free
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Old Jun 28th 2007, 10:36 pm
  #167  
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Default Re: NZ$ vs £

NZ dollar tops US77c for first time

9:20AM Friday June 29, 2007





For the first time since being floated 22 years ago, the New Zealand dollar has topped US77c against the greenback.

(and below $2.6 to the £)

-------------

I'm amazed by the complete reliance on one instrument (interest rates) being used as the single and only lever to try to control the economy. I know it's not just NZ alone, almost all the Anglo nations appear to be refusing to look at other options to control, or at least influence, the carry trade.
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Old Jun 28th 2007, 11:04 pm
  #168  
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Default Re: NZ$ vs £

Westpac are now predicting in their forecast that the rate will be about $2.60 until 2009 at least.
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Old Jun 29th 2007, 12:48 am
  #169  
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Default Re: NZ$ vs £

Originally Posted by justinthyme
NZ dollar tops US77c for first time

9:20AM Friday June 29, 2007





For the first time since being floated 22 years ago, the New Zealand dollar has topped US77c against the greenback.

(and below $2.6 to the £)

-------------

I'm amazed by the complete reliance on one instrument (interest rates) being used as the single and only lever to try to control the economy. I know it's not just NZ alone, almost all the Anglo nations appear to be refusing to look at other options to control, or at least influence, the carry trade.


First thing Nicolas Sarkozy did was to get all the supermarket chiefs together, and ORDERED them to reduce the prices of food, now that's an alternative to reducing the inflation rate, none of this namby-pamby market forces or interest rate stuff

Last edited by brussels_sprout; Jun 29th 2007 at 12:51 am.
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Old Jul 3rd 2007, 2:54 pm
  #170  
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Default Re: NZ$ vs £

What's happening $2.57 to the £. When will it end?
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Old Jul 3rd 2007, 10:11 pm
  #171  
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Default Re: NZ$ vs £

Originally Posted by simonmarkellis
What's happening $2.57 to the £. When will it end?
Thats the $64bn question.

Unless the UK economy and currency is about to take off, then it might be that the kiwi cross rate stays strong for a time yet. A summary of the NZ economy is that there are mixed signals (eg. strong employment, poor current a/c deficit, slowing retail growth, best terms of trade for 30 years, housing market on its third wind). But structurally NZ ecomomy is more unbalanced than most, so whatever the catalyst is, when it hits the currency will weaken very rapidly. Banks are forecasting 69c (ANZ) through to 79c (Westpac) 12months out for the US cross rate - that is an incredible range, and indicates the differences of opinion about when the slide will occur.
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Old Jul 3rd 2007, 11:03 pm
  #172  
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Default Re: NZ$ vs £

Originally Posted by southerner
Thats the $64bn question.

Unless the UK economy and currency is about to take off, then it might be that the kiwi cross rate stays strong for a time yet. A summary of the NZ economy is that there are mixed signals (eg. strong employment, poor current a/c deficit, slowing retail growth, best terms of trade for 30 years, housing market on its third wind). But structurally NZ ecomomy is more unbalanced than most, so whatever the catalyst is, when it hits the currency will weaken very rapidly. Banks are forecasting 69c (ANZ) through to 79c (Westpac) 12months out for the US cross rate - that is an incredible range, and indicates the differences of opinion about when the slide will occur.
Isn't the MAIN attraction of the NZD, the fact that interest rates are so high against Japan, Switzerland etc rather than the factors you described ? Hence the speculating Japanese grannies "bringing down" the policies of the NZ finance minister who wants the NZD lower. I read yesterday in the local NZ paper that the NZD is expected to plunge later on this year. The interest rates are high to stabilise the bloated house prices, but are starting to negatively affect Kiwi exporters
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Old Jul 4th 2007, 2:28 am
  #173  
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Default Re: NZ$ vs £

Sorry I took that bit of background for granted.

Yes, the so-called "carry trade" from Japanese and other overseas investors is keeping the NZD above its fair value based on fundamentals but ultimately that will unwind as either NZs interest rate outlook weakens or overseas interest rates look to strengthen. Because NZ interest rates are so clearly higher than elsewhere, and whilst it looks like kiwis can afford those higher interest rates, then the NZ dollar will stay strong.
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Old Jul 4th 2007, 7:29 am
  #174  
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Default Re: NZ$ vs £

When Mrs Yagisaki gets a serious sniff that the $Kiwi is reversing against the yen she'll pull her highly leveraged pot out of $kiwis faster than she can say " uetto nikka-zu " and we could have $3 to the £1 in weeks. Could be years away though.
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Old Jul 4th 2007, 8:50 am
  #175  
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Default Re: NZ$ vs £

Originally Posted by justinthyme
When Mrs Yagisaki gets a serious sniff that the $Kiwi is reversing against the yen she'll pull her highly leveraged pot out of $kiwis faster than she can say " uetto nikka-zu " and we could have $3 to the £1 in weeks. Could be years away though.
Let's hope it's not the latter then, for all of us who are looking to come over in the next few months
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Old Jul 6th 2007, 11:05 am
  #176  
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Default Re: NZ$ vs £

It's official you pay more for a big mac in New Zealand than any where else.

http://www.nzherald.co.nz/section/3/...ectid=10450030
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Old Jul 7th 2007, 6:01 am
  #177  
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Default Re: NZ$ vs £

Originally Posted by simonmarkellis
It's official you pay more for a big mac in New Zealand than any where else.

http://www.nzherald.co.nz/section/3/...ectid=10450030

You didn't read it properly:

SO, HOW MUCH IS A BIG MAC?
(local prices all converted to $US equivalent value)

US: $3.41
AUSTRALIA: $2.95
CHINA: $1.45
UK: $4.01
JAPAN: $2.29
NZ: $3.59

So good old pommie land is the most expensive! Who eats them anyway? Gimme a whopper anytime.
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Old Jul 7th 2007, 8:43 am
  #178  
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Default Re: NZ$ vs £

I don't eat them either, would rather chew on cardboard, but I guess the price in each country only matters relative to the wage you can earn, which for me seems to be much higher in the UK than NZ.

It has not put me off trying to move to NZ though!
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Old Jul 18th 2007, 9:02 pm
  #179  
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Default Re: NZ$ vs £

Interesting article here from an exporter about the exchange rate problem. I'm not sure about their proposed savings scheme but the "real economic scorecard" section rings true including:

* highest foreign debt per capita and as a percentage of GDP;
* highest international operating loss per capita and as a percentage of GDP, as represented by our chronic and high current account deficits, which are not sustainable;
* the small country economy that is the most disconnected from the global economy, with relatively stagnant export revenues now only 50% of the level New Zealand needs them to be;
* worst plunge in average incomes per capita (in purchasing power terms) over the past twenty-odd years;
* the most dis-saving economy in the world (spending up to $117 for every $100 earned);
* consequently, the economy suffering the greatest rate of skills flight in the world;
* the worst rate of closures of export plants, or their transfer to more supportive overseas monetary policy environments;
* consequently, the economy that is the most stressed by under-funding services for education, health, welfare, superannuation, defence, policing and social services;
* the world’s worst record for low productivity gains;
* the world’s worst record for low investment in export manufacturing;
* the world’s worst record for failure to attract Foreign Direct Investment in new industry or expansion of industry;
* relatively, the world’s smallest and shallowest capital markets;
* the world’s most overpriced housing, relative to average incomes;
* worst household debt servicing as a percentage of household incomes;
* arguably, the world’s worst record for businesses consuming their fixed capital, by running plants out to the end of their economic life and then closing and not replacing them;

2. I could add another: the country that is best at ignoring its policy failures, while pretending it is succeeding despite the evidence to the contrary.
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Old Jul 19th 2007, 12:09 pm
  #180  
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Default Re: NZ$ vs £

Originally Posted by cypherpunk
Interesting article here from an exporter about the exchange rate problem. I'm not sure about their proposed savings scheme but the "real economic scorecard" section rings true including:
Yes all true. Another indictment of NZ's bonkers free market reforms.
In case you didn't see it, Bryan Gould (ex British MP) was on CloseUp tonight.

http://tvnz.co.nz/view/video_popup_windows_skin/1247149

He'd get my vote for sensible, pragmatic Minister of Finance

Kip
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