Dollar High, Pound Low

We hope you enjoy your visit.

You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are some features you can't use. If you join our community, you'll be able to access member-only sections, and use many member-only features such as customizing your profile, sending personal messages, and voting in polls. Registration is simple, fast, and completely free.

Join our community!

If you're already a member please log in to your account to access all of our features:

Dollar High, Pound Low
Topic Started: Sep 10 2008, 01:13 AM (238 Views)
PC Pom	Sep 10 2008, 01:13 AM Post #1
Anyone for tennis? Posts: 654 Group: Admin Member #1 Joined: March 23, 2006	"Just a short note to let you know that the GBP/AUD rate opened today at a 5-month high of 2.1900. In volatile trade this morning, it briefly touched 2.2000. This represents an appreciation of 7.5 per cent compared to just seven weeks ago on July 23, 2008 when it was trading at 2.0470. The recent low was 2.0298 on June 4, 2008. The Australian Dollar has weakened significantly due to a strong U.S. Dollar and an end to the tightening cycle in official interest rates. Last Tuesday, The Reserve Bank of Australia cut interest rates for the first time in 7 years by 25 basis points to 7.00 per cent and has more than hinted at lower rates in a recent statement saying “with domestic demand slowing, the Board’s view is that scope to move towards a less restrictive stance of monetary policy in the period ahead is increasing”. Financial markets have taken the view that further moves down in interest rates are imminent. The Pound could gain more strength against the Aussie from here but there is significant volatility and renewed weakness cannot be discounted." Sent to me by OzForex. Good news at long last for anyone looking to cash in their savings and make the trip out over here. But do you lock it in now? Paul.
	Koala Konnection UK to Australia and New Zealand. Migration Made Easy.


PC Pom	Sep 19 2008, 01:29 AM Post #2
Anyone for tennis? Posts: 654 Group: Admin Member #1 Joined: March 23, 2006	And today, for the record, it's 2.26, down after yesterday's 2.30 to the nearest cent
	Koala Konnection UK to Australia and New Zealand. Migration Made Easy.


Tyke	Oct 30 2008, 10:44 PM Post #3
Happy in Onkaparinga Hills Posts: 237 Group: Members Member #228 Joined: April 25, 2008	Look at the rate now - I've just had an amount shipped over. I had not kept my eye on the rate so was very suprised when I saw the fax. Just wish people could sell their houses to take advantage of this rate.
	Quality furnished ,short term rentals.2 beautiful houses,in Woodcroft and Seaford. "Home from Home" Auseelife


PC Pom	Oct 30 2008, 11:11 PM Post #4
Anyone for tennis? Posts: 654 Group: Admin Member #1 Joined: March 23, 2006	Just a few days ago it hit almost 2.6 I agree with you regarding house sales. However, I get the impression that no matter how low you offer your house for sale to take advantage of a good exchange rate, the number of takers will be low. But it only takes one to commit.
	Koala Konnection UK to Australia and New Zealand. Migration Made Easy.


1 user reading this topic (1 Guest and 0 Anonymous)


« Previous Topic · Money Matters · Next Topic »