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Australian dollars vs. British pound

Discussion in 'Forex and Cryptocurrencies' started by suhm, Jun 8, 2006.

  1. suhm

    suhm

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    Hey all,

    I'll be going over to the UK to study for a year soon and was wondering if I should convert my spending money for whilst i'm over there now hedge my bets or wait for a recovery in the AUS.

    From my limited charting knowledge and i'll emphasise the limited the aussie dollar seems to have been in a downard trend for quite some time against the gbp, hence why I was thinking of just getting it over and done with.

    Would appreciate thoughts from anyone with more forex or charting experience.

    suhm
     
  2. coyotte

    coyotte

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    Re: Australian dollars vs British pound

    $au is predicted to drop -- $au-vs--$us
    followed by
    $bp then predicted to drop --- $bp--vs-- $us

    Reasoning based on base metals declining --- UK going into recession

    These are only the lastest FX forcasts
     
  3. noirua

    noirua

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    Re: Australian dollars vs British pound

    The British Pound continues to tank as word on the ground sees their economy in increasingly dire straights. Tax revenues falling fast and debt rising £billion after £billion. Total UK debt is heading fast towards £1 trillion with annual debt increasing at £150 billion a year, can't go on of course.

    Rate against the Aussie is now AUD1.874 to the £1 - last year when the Aussie tanked it was AUD2.60 to the £1.

    I thought we would see AU$1.90 to the £1 by end of October and AU$1.85 by end of December, time for revision the way it's going.
     
  4. gooner

    gooner

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    Re: Australian dollars vs British pound

    Not that long ago, the Barmy Army were singing " we get three dollars to the pound"

    Soon we might be able to sing "we get one pound for our dollar".

    London property might even look cheap. Mind you, it would still be grey and miserable most of the time.
     
  5. shortlist

    shortlist

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    Re: Australian dollars vs British pound

    The UK economy probably has the bleakest outlook of any in the first world. I would not raise an eyebrow if I woke up tomorrow morning and saw $1.75, and it will get worse as well. I would point out though that a Conservative landslide is inevitable and imminent, and this might give sterling some renewed energy - temporarily.
     
  6. lasty

    lasty

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    Its a sell down to $1.50.
    UK in all sorts of trouble as highlighted.
     
  7. noirua

    noirua

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    The sad looking pound is now down to AU$1.814 to £1 this morning. Australia is now looking very expensive for the British tourists.
     
  8. doctorj

    doctorj Hatchet Moderator

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    Or for Aussies in the UK hoping to return home for xmas :banghead:
     
  9. Nyden

    Nyden G.E. Money Genie

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    Yes, but on the flip side - it's great for us Aussies actually here in Australia, wishing to travel overseas this Christmas :D
     
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