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Australian, New Zealand Dollars Slide On Credit Market Losses

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For the Aussie and kiwi, this is just bad news,'' said Tony Morriss, a currency strategist at Australia & New Zealand Banking Group Ltd. in Sydney, referring to the currencies by their nicknames. ``There is more pressure on the finance system and carry trades will get hit the hardest.''

http://www.bloomberg.com/apps/news?pid=206...&refer=home

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Just did a calculation to see how much money I have lost recently by the kiwi dollar dropping in value.

I have around 10 thousand pounds in my new zealand bank account. I was going to transfer it to the UK 2 weeks ago and into my mortgage. If I transfer it now I am 800 pounds worse off :o

Easy come easy go!

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Just did a calculation to see how much money I have lost recently by the kiwi dollar dropping in value.

I have around 10 thousand pounds in my new zealand bank account. I was going to transfer it to the UK 2 weeks ago and into my mortgage. If I transfer it now I am 800 pounds worse off :o

Easy come easy go!

Try asking the Fed or ECB for a bailout?

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Just did a calculation to see how much money I have lost recently by the kiwi dollar dropping in value.

I have around 10 thousand pounds in my new zealand bank account. I was going to transfer it to the UK 2 weeks ago and into my mortgage. If I transfer it now I am 800 pounds worse off :o

Easy come easy go!

Thank you for an honest post. It makes a change from the normal bull on here.

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Don't convert all them $NZ to pounds as it's day is dawning. i would go for yen or euro's

I can't wait for the Kiwi to fall back to about the 80 yen level. I have a wad of yen to bring in from a bank account that is paying less than 1% interest per annum.

I'll take you yen off your hands even if the banks only pay 1%pa

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Just did a calculation to see how much money I have lost recently by the kiwi dollar dropping in value.

I have around 10 thousand pounds in my new zealand bank account. I was going to transfer it to the UK 2 weeks ago and into my mortgage. If I transfer it now I am 800 pounds worse off :o

Easy come easy go!

You are still better off than me. I transfered my kiwi $ over here for my house deposit at 2.82 - 1 a few months ago :(

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maybe you could rush out to the post office or those small exchange shops see if you lose less, they never change it that fast.

But you'll get tourist rather than spot which more than offsets any gain.

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But you'll get tourist rather than spot which more than offsets any gain.

They are pathetic hagglers in NZ. The first time I exchanged at street exchange I said to the guy his rate wasn't good enough. He asked me what I wanted and I gave him the rate I had off forex and he almost equaled it.

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You are still better off than me. I transfered my kiwi $ over here for my house deposit at 2.82 - 1 a few months ago :(

Well it peaked at 2.60 for a couple of weeks and it's now back at 2.77. Another few months and you might be feeling very happy you exchanged when you did.

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Well it peaked at 2.60 for a couple of weeks and it's now back at 2.77. Another few months and you might be feeling very happy you exchanged when you did.

So you actually haven't lost £800, its just that you missed out on a selling opportunity. The fact you are saying you are "800 pounds worse off" is a microcosm of what will happen with houses when people can't sell for "yesterday's" inflated price.

On a different note - don't worry, your prediction that interest rates will fall here means that sterling will fall and perhaps the NZ dollar will rise relative to that. Then you will "get back" that £800 and perhaps even more...so maybe you should hold off on that transfer for a bit!

Edited by ulster_exile

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