What's your prediction on the Australian Dollar?

We used the UK pound at between 0.66 and 0.68 to get some UK assets last time. We may get another chance in the next couple of years.
My two brothers went for European assets in Germany and France.
 
Wow I just heard a forex trader describing the pound as trading like a developing nation currency.

Oh the and the free fall of the pound continues unabatted.

The fallout from the United Kingdom's Brexit vote has led to the British pound falling to its lowest level against the Australian dollar in three years and, on one measure, to its weakest position in 168 years.
The sterling has dropped to 31-year lows against the US dollar and slipped 15 per cent against the euro since Britain's shock vote in June to the leave the European Union.
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Brexit fallout sends pound to 168-year low

Also looks like no more cuts to the Aussie cash rate if the signs from the RBA are to be believed.
 
whatmeworry said:
Wow I just heard a forex trader describing the pound as trading like a developing nation currency.

Oh the and the free fall of the pound continues unabatted.



Brexit fallout sends pound to 168-year low

Also looks like no more cuts to the Aussie cash rate if the signs from the RBA are to be believed.
Click to expand...

I love the "3 year lows". The lowest the GBP was against the AUD in recent times was in fact 4 years ago, when the Olympics were on it was getting roughly £0.68. But hey ho, don't let facts get in the good way The Age! Using statistics to suit themselves, but failing to give a proper picture.
 
Flashback said:
I love the "3 year lows". The lowest the GBP was against the AUD in recent times was in fact 4 years ago, when the Olympics were on it was getting roughly £0.68. But hey ho, don't let facts get in the good way The Age! Using statistics to suit themselves, but failing to give a proper picture.
Click to expand...

Well the article did reference some other statistics showing the pound hasn't been this bad against a basket of currencies since 1975. Yay GB is independent of Europe and is now going to finally lose Scotland! Win Win for the World.


And this week the pound fell to record lows on its effective exchange rate index - which measures the currency against a weighted basket of Britain's major trading partners.

Data from the Bank of England shows that, on that measure, the pound on Wednesday fell to its lowest level since 1975.
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Brexit fallout sends pound to 168-year low
 
cove said:
The Scots are doing what with what? Another vote......
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Just the end of the relevance of the English across the World. I guess it started when Croatia humiliated England at Wembley to send England out of the EURO's.

Don't worry, many a nation loving England becoming a third world country.
 
whatmeworry said:
Well the article did reference some other statistics showing the pound hasn't been this bad against a basket of currencies since 1975. Yay GB is independent of Europe and is now going to finally lose Scotland! Win Win for the World.

Brexit fallout sends pound to 168-year low
Click to expand...

To put things in perspective - the average person cannot accurately remember figures to dates (such as when was the last time ULP was below 99 cents per litre).

Here is the AUDGBP for the last 5 years....
2016 10 17 AUDGBP.jpg

Not quite 168 years back.

Similar pictures if you look at other currencies vs GBP.

Equally as the EUR has not been around 168 years, nor many other currencies.....
 
So, Mr ABC says higher (circa 80c) in the short term then lower (circa 70c) in the medium term? maybe... but it's a complete guess (an educated guess but that doesn't count when it's a binary choice). If we see sub-70c I'm buying gold. Otherwise I'm sitting on my hands regarding this particular trade.
 
I love to travel said:
If the US Fed raise rates in December, then that will be the start of the decline. Anyway, would have bought next years Lifemiles by then using the Dec promo so all will be good in my world :p
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Well the chairman of the New York Fed has said rates will rise this year.They wont do it in November a week before the Election so December it is.
 
Looks like pound will go up today with the High Court ruling, throwing the Brexit into disarray.

After a high-stakes argument over the balance of power between Parliament and the Crown, the court ruled unanimously that the 'royal prerogative' did not give the government power to start the legal process of taking Britain out of the European Union.
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However the High Court ruled this was an "untenable" argument, because "a referendum on any topic can only be advisory for the lawmakers in Parliament unless very clear language to the contrary is used".

It concluded "the Secretary of State does not have power under the Crown's prerogative to give notice… for the United Kingdom to withdraw from the European Union".

The decision was welcomed by currency markets with a sharp rise in the value of the pound against the dollar, though it is a long way short of its pre-referendum value.

Britain's High Court deals blow to UK Brexit hopes
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