Genesis

Over 2.25 today!! Its gone up about 10 cents in 3 days. The kiwi is down to .73 agin the greenback. Will this be a shortlived rally? I read the other day that the pound could have some power returning to it and that it is still a strong currency even with the current gloom that hangs over the UK. Its the 2nd comment I have read suggesting this. I amazed at the rapid strength...what is driving it just now. Anyways it did not go to the 2 for 1 as Halo suggested and seemed to hold out at the 2.15 resistance fairly well although the low point was 2.12.

I really doubted it would go to 2 personally. The weakening kiwi is very good for us as a country and for anyone with any money to bring over..so hurrah.

Genesis

3hrs later its over 2.27!!! Maybe its something to do with the reserve bank leaving the OCR at the current rate and not raising it? Anyway whatever its good news for those who wish to buy kiwis.

MnB

Hope it keeps going in the right direction!

BEVS

LOL Genesis. I thought the thread could be something to do with Halloween given the title.

I get a report each day from currencyonline dot com. which I've been binning without reading the things. Although I've skimmed a few of late for which I blame you. Maybe I'll bung a couple up here.

Anyone can subscribe to the reports for whichever currency they choose.

MOSO

2.281 at the moment - onwards and upwards

Genesis

2.2942!!!!!!!!!!!!!!!!!!!!!!!!!!!! Which is nice.

Newfies

2.299 currently Lets hope it continues to rise. fingers toes and everything else crossed

Genesis

Its just gone over $2.30!!! Has the kiwi finally seen the err of its ways?

Will stop thinking ITS the reserve currency of the world rather than oil?

Have we seen the last of sub 2.20s for a while?? I bloody hope so!!!

Dewb09

Woo hoo been a while since 2.3
Has languished in the 2.1 and 2.2's for way too long

this is the start of something!

Dewb

BEVS

You are naughty as you've gone and got me hooked on watching it again.

Wooly_Cow

Don't hold your breath. BNZ 'expert' warned that the fundamentals were still postive for the Kiwi dollar. He (or she) said they thought another push towards 2:1 by January 2010.

They also said house prices were on the way up too.

...then again ......'expert' or 'ex - spurt' - a former drip under pressure

jennifer45

From 'Money Mail'

Sterling's mini-recovery since early October suffered a considerable setback on the 23rd of the month, when UK GDP figures showed a shocking 0.4% drop for the third quarter, as against expectations for a 0.2% rise.

As this raised market expectations that the Bank of England would expand quantitative easing and put back the horizon for the first rate rise even further, the pound fell sharply.

When the Bank's MPC eventually did increase QE by £25bn on 5 November, the pound rallied a little, as markets were relieved that the prognosis on the economy wasn't so bad that a £50bn increase was passed.
The general weakness of sterling can be put down to a number of factors:

• The UK is emerging more weakly from the global recession than Europe and the US;

• The resulting low interest rate outlook - which was only clarified by weak inflation data for September;

• The Bank of England's surprise move on 6 August to throw an extra £50bn into its quantitative easing scheme, the revelation a fortnight later that Governor Mervyn King believed the UK economy needs more than that, and now the likelihood that more will be administered;

• The UK's poor fiscal position, with its large and growing public sector deficit. This was highlighted recently by the Government's decision to sell off £16bn in state assets. More recently, short-term developments have increased the pressure on the pound:

• A suspicion the Bank of England might cut the cash reserve rate paid to banks.

• The suspicion that the Bank of England and the Government want a weak pound in order to boost exports.

This fella King seems to think that printing more money is the way out.
Most ordinary folk ie. me know that if there is a surplus of something it loses it's value- so to keep the pound down, which it seems King and his cronies want, PRINT MORE!.


Anyway people, we're due to move into an unfurnished rental on the 12th and itlooks like it's going to remain unfurnished due to the 'unforseen and un-comunicated' leaving [abandoning] of our container on a dockside at a port somewhere along its journey to OZ.
Long long story won't bore you with it, save to say what with everything else [ie buyers from hell-/ the exchange rate, leaving most of money in UK/ cock-ups from pensions] this has just about scuppered MOH.
Trying to keep a positive outlook on everything at mo for both of us but becoming a tad difficult..

jennie

Wooly_Cow

After yesterdays announcement that the BoE is ‘only’ adding 25 billion to the QE programme, there seems to be a general belief that QE is coming to an end in the UK. This would match the end of fiscal stimulus programmes in other economies. How nations have coped during the down turn and how quickly they will come out of it has been majorly impacted by the interventions by the central banks. Once we see these winding their way out of the economies, there will be a clearer picture about which economies are best adapted to the new economic realities. 2010 will be a VERY interesting year

RobClubley

Nooo, I want to buy something from the UK next month. tell it to hold off a bit.

MOSO

2.238 at the moment..... keep going