What's your prediction on the Australian Dollar?

[moa999]

Looks like the aussie is being battered. Fresh lows in a no. of years: 0.6871

Also getting crunched against the Euro - presently 0.6290

 

[Flashback]

Also getting crunched against the Euro - presently 0.6290

It's doing better against the GBP though.

GBP has fallen though against a lot of currencies! USD, EUR, INR are the ones I track. Dropped 10c or so against the EUR and similar against the USD.

 

[Teal747]

RIP AUD. so glad I bought some USD months ago.

Yes its a hard decision to make a substantial US$ purchases as the interest they pay you in the USA is near zero and moving it from Australia you sort of lose about 4% interest
Switching to HKD you can get 1% interest and this currency seems to be pegged to the USD
Stiill at that time it was a 75% decrease in income BUT now looking at the exchange rate I got (April last year) I have well forgotten the drop in interest income!

 

[earlyriser]

Any reason for this? I swear I briefly saw it at 0.70 earlier today.

 

[quokka77]

Commodity prices slump. Exposure to China. Yada yada.

 

[incumbent]

I understand the Aussie-centric focus here, but this is really just part of much broader chaos. AUD tends to be driven much more by speculation than fundamentals, at least on the upside. A combination of short speculation and deteriorating fundamentals is what we have now.

 

[anat0l]

I don't mind the slump in the AUD in a way as I still have reserves of foreign currency that I'm intending to still convert back to AUD. This means my reserves have increased in value (subject to the other currency not losing its own value), although it can be argued as superficial as I'm not in a position to take advantage of the current dynamic.

 

[Awesom Andy]

As I have a trip booked to AU next month, the AUD will surely go up again very soon.

 

[marki]

Well overnight free fall with the EUR

 

[subichow]

RIP AUD. so glad I bought some USD months ago.

Same haha, luckily I have enough USD left over from my trip last year to fund me for another trip this year.

 

[JohnK]

RIP AUD. so glad I bought some USD months ago.

Hindsight is a wonderful gift....

 

[Foreigner]

I don't mind the slump in the AUD in a way as I still have reserves of foreign currency that I'm intending to still convert back to AUD. This means my reserves have increased in value (subject to the other currency not losing its own value), although it can be argued as superficial as I'm not in a position to take advantage of the current dynamic.

I'm hoping for a weaker aussie. Expecting to convert 1 mil in next 3 weeks.

 

[sausagefingers]

Hindsight is a wonderful gift....

I didn't buy anywhere near enough to super happy about it.

 

[marki]

Foresight is as wonderful as hindsight if not better

 

[cove]

Going down now it seems because all our commodities we dig up are plunging.

 

[anat0l]

I'm hoping for a weaker aussie. Expecting to convert 1 mil in next 3 weeks.

What million do you have to convert to AUD? Filipino Pesos? Rupees? Yen? Dong? Old Zimbabwean Dollars?

 

[amaroo]

I'm hoping for a weaker aussie. Expecting to convert 1 mil in next 3 weeks.

I'd wait until the x rate started with a 4

 

[amaroo]

Going down now it seems because all our commodities we dig up are plunging.

On the other hand tourism is going gang busters... recent investment in the industry is looking good!

 

[Foreigner]

What million do you have to convert to AUD? Filipino Pesos? Rupees? Yen? Dong? Old Zimbabwean Dollars?

greenbacks

 

[cove]

My favourite currency at the moment has been the greenback.
Our timing wasn't perfect when we bought in the US but 92 cents exchange rate now adds a lot to our purchase of a property during the GFC.
The Australian dollar is looking quite vulnerable at the moment.