azogar Posted August 17, 2007 Share Posted August 17, 2007 losing ground fast!!! http://finance.yahoo.com/charts#chart1:sym...ource=undefined Quote Link to comment Share on other sites More sharing options...
lets get it right Posted August 17, 2007 Share Posted August 17, 2007 Our imports priced in dollars have got 5% more expensive in the last few weeks. This will cause inflation. Better put interest rates up. Quote Link to comment Share on other sites More sharing options...
WiseBear Posted August 17, 2007 Share Posted August 17, 2007 Not against the Aussie dollar it's not... Now over 2.55 ! Quote Link to comment Share on other sites More sharing options...
Fishy Posted August 17, 2007 Share Posted August 17, 2007 (edited) It's down to 1.9680USD at the minute.... did we miss something elsewhere? Anyone any idea of why it's dropping so fast just now? Edited August 17, 2007 by Fishy Quote Link to comment Share on other sites More sharing options...
scottbeard Posted August 17, 2007 Share Posted August 17, 2007 Only down from $1.98 to $1.97 though... Quote Link to comment Share on other sites More sharing options...
azogar Posted August 17, 2007 Author Share Posted August 17, 2007 Only down from $1.98 to $1.97 though... yes - stabilised now, it was only going 1 way for a while though! Quote Link to comment Share on other sites More sharing options...
nohpc Posted August 17, 2007 Share Posted August 17, 2007 yes - stabilised now, it was only going 1 way for a while though! Very strong against the kiwi dollar today too. Almost a 3 dollars to the pound Quote Link to comment Share on other sites More sharing options...
lets get it right Posted August 17, 2007 Share Posted August 17, 2007 Very strong against the kiwi dollar today too. Almost a 3 dollars to the pound Who cares about the sheep-shearer's currency? Quote Link to comment Share on other sites More sharing options...
Guest X-QUORK Posted August 17, 2007 Share Posted August 17, 2007 (edited) It's down to 1.9680USD at the minute.... did we miss something elsewhere?Anyone any idea of why it's dropping so fast just now? At a guess I'd say it has something to do with the City having already priced in another 0.25% hike in the BoE base rate, but this is now looking like far from a done deal (therefore making Sterling look like a less attractive investment). I could be talking a load of cobblers though. Edited August 17, 2007 by X-QUORK Quote Link to comment Share on other sites More sharing options...
azogar Posted August 17, 2007 Author Share Posted August 17, 2007 At a guess I'd say it has something to do with the City having already priced in another 0.25% hike in the BoE base rate, but this is now looking like far from a done deal (therefore making Sterling look like a less attractive investment). I could be talking a load of cobblers though. makes sense to me Quote Link to comment Share on other sites More sharing options...
jonewer Posted August 17, 2007 Share Posted August 17, 2007 Very strong against the kiwi dollar today too. Almost a 3 dollars to the pound Thats really going to have an effect on the price of er.... frozen lamb? Quote Link to comment Share on other sites More sharing options...
jimmyjazz Posted August 17, 2007 Share Posted August 17, 2007 im going to india/nepal for 6 months. i have a few grand in sterling. should i buy some rupees now ? or dollars ? Quote Link to comment Share on other sites More sharing options...
nohpc Posted August 17, 2007 Share Posted August 17, 2007 Thats really going to have an effect on the price of er.... frozen lamb? Just pointing out that the pound is getting stronger against other currencies. Quote Link to comment Share on other sites More sharing options...
ruisort7 Posted August 17, 2007 Share Posted August 17, 2007 Who cares about the sheep-shearer's currency? Sheep shearers? Quote Link to comment Share on other sites More sharing options...
jackalope Posted August 17, 2007 Share Posted August 17, 2007 im going to india/nepal for 6 months.i have a few grand in sterling. should i buy some rupees now ? or dollars ? You'd be better off buying some Immodium. Quote Link to comment Share on other sites More sharing options...
Guest Shedfish Posted August 17, 2007 Share Posted August 17, 2007 You'd be better off buying some Immodium. can't find that one on kitko.com.. is it one Mendeleev predicted? Quote Link to comment Share on other sites More sharing options...
lets get it right Posted August 17, 2007 Share Posted August 17, 2007 Sheep shearers? You know raising sheep is the biggest industry in New Zealand. Quote Link to comment Share on other sites More sharing options...
mercenarul Posted August 17, 2007 Share Posted August 17, 2007 You know raising sheep is the biggest industry in New Zealand. I thought that was wales. No wait - they do something else with their sheep. The biggest industry in NZ is now fliecing stupid brits who think that NZ is paradise. It takes them a year or two and all their money to realise that it is not. Quote Link to comment Share on other sites More sharing options...
Guest DissipatedYouthIsValuable Posted August 17, 2007 Share Posted August 17, 2007 (edited) I thought that was wales. No wait - they do something else with their sheep. The biggest industry in NZ is now fliecing stupid brits who think that NZ is paradise. It takes them a year or two and all their money to realise that it is not. Aww mate, if you want culture and rules, better off staying in England, eh bro? Goodonya, sweet as. Edited August 17, 2007 by DissipatedYouthIsValuable Quote Link to comment Share on other sites More sharing options...
ruisort7 Posted August 17, 2007 Share Posted August 17, 2007 You know raising sheep is the biggest industry in New Zealand. Which means they shouldn't care about their currency? Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted August 17, 2007 Share Posted August 17, 2007 it's not doing well against the euro either. B***ocks! I'm off to Italy in 4 days and I never change any currency Last Trade: 1.4699 € Trade Time: 9:30AM Bid: 1.4699 Ask: 1.4703 Quote Link to comment Share on other sites More sharing options...
bambam Posted August 17, 2007 Share Posted August 17, 2007 Just pointing out that the pound is getting stronger against other currencies. Other currencies? The Kiwi and NZ dollar are marginal currencies that are losing value because they have been the subject of the yen carry trade, because they have high rates. This carry trade exists in sterling, but more for financing purposes than speculation. It's now unwinding as credit implodes. Have a look at GBPJPY for whether the pound is really strengthening. Quote Link to comment Share on other sites More sharing options...
sunonmars Posted August 17, 2007 Share Posted August 17, 2007 have a read at this, explains things rather nicely Countries with big deficits, property bubbles, and excess household debt have suddenly fallen out of favour in the new mood of risk aversion, leaving Britain facing a chill. Ted Scott, a fund manager Foreign & Colonial, said the brutal slide of the last few days was of a totally different character to recent sell-offs. http://www.telegraph.co.uk/money/main.jhtm...sterling117.xml Basically all that foreign money is is going to be leaving UK shores as its debt is toxic. Quote Link to comment Share on other sites More sharing options...
dstars Posted August 17, 2007 Share Posted August 17, 2007 This is not sterling or NZD losses. This is chaos. People are getting out of everything and into US government paper. In the purest economic terms US government paper = TIN HATS Quote Link to comment Share on other sites More sharing options...
miccage Posted August 17, 2007 Share Posted August 17, 2007 Maybe it is finally all unwinding. Good article: investors shun sterling Quote Link to comment Share on other sites More sharing options...
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