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Buy the Pound Today; Standard Disclaimer. Investments can go up or down etc.etc)
Topic Started: 7 May 2015, 01:00 AM (6,047 Views)
Jimbo
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skamy
7 May 2015, 11:35 AM
This is what I am hearing - Milliband is becoming more electable by the day.
How much does it cost you to change currencies ? How much change do you need to make money?
To me the pound is hovering around its historical average maybe a little low ie a few pence, relative to the dollar.

Labour have lost too many seats in Scotland to win outright and the Tories and Lib dems will form another coalition.

It costs less than 0.5% so any movement greater than that makes a profit. Plus there is no time limit. I can wait six months for the rate to go in my favour before selling. It is not a leveraged trade so there is practically zero risk to me.
skamy
7 May 2015, 11:35 AM
Sales up in Perth this week and rental leases are flying with 1200 new leases last week, what do you think will happen when the Perth market shows some recovery?
Sales listings are up by over 600 in four weeks and rental listings are up by 400 in four weeks.

http://www.perthnow.com.au/realestate/news/rent-drops-30week-as-7000-more-homes-in-market/story-fnhlgriw-1227342228899
Edited by Jimbo, 7 May 2015, 04:19 PM.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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hoofarted
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skamy
7 May 2015, 11:35 AM
To me the pound is hovering around its historical average maybe a little low ie a few pence, relative to the dollar.
No it isn't. The 20 year historical average is around $2.50 / GBP. You sound like you are trying to convince yourself of something.
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Jimbo
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hoofarted
7 May 2015, 04:46 PM
No it isn't. The 20 year historical average is around $2.50 / GBP. You sound like you are trying to convince yourself of something.
Skamy will jump into any thread to spruik Perth property, even if she knows nothing about the thread subject.

The recent strength of the AUD versus the GBP has been mainly down to the interest rate difference and the resources boom. Prior to the GFC, the Pound would buy you around $2.50 to $3.00.

I doubt we will see that again for a while, but $2.00 to $2.20 seems pretty reasonable considering the RBA loosening and the headwinds facing the Aussie economy.

EDIT: http://www.dailymail.co.uk/money/markets/article-3070462/Pound-slides-1-34-euros-financial-markets-set-bumpy-ride-voters-head-polls.html

"In the month up to the last election in 2010 the pound fell from $1.5335 to a low of $1.47 on election day itself, falling further below $1.45 the following day when the reality of a hung parliament hit home"


Edited by Jimbo, 7 May 2015, 05:23 PM.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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skamy
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hoofarted
7 May 2015, 04:46 PM
No it isn't. The 20 year historical average is around $2.50 / GBP. You sound like you are trying to convince yourself of something.
You are wrong as usual.

The average over the last 20 years is $2.19
The average over the last decade is 1.96 where do you get your nonsense from?

http://www.ozforex.com.au/forex-tools/historical-rate-tools/yearly-average-rates

I have been over and back to the UK for the last 25 years so I know that the pound has rarely been at or above $2.50.



In only 6 of the last 25 years has the pound gone above $2.50 and then not by much . Most of the time it hovers about $2.0

The Australian dollar is also different currency these days so it is highly unlikely IMHO that we will see the high exchange rates of the early 2000s. The AUD is now a reserve currency - I cannot see the pound gaining significantly - the UK economy is still not that strong, plus the interest rates there are only 0.5% compared to ours at 2%.

1990 ----2.284651
1991 ----2.269749
1992 ----2.401616
1993 ----2.210037
1994 ----2.094353
1995 ----2.131954
1996 ----1.994035
1997----2.208607
1998 ----2.640214
1999 ----2.507137
2000 ----2.610650
2001 ----2.783102
2002 ----2.761822
2003---- 2.505361
2004 ----2.492206
2005 ----2.386887
2006 ----2.445405
2007 ----2.390299
2008 ----2.187308
2009 ----1.991784
2010 ----1.683697
2011 ----1.553389
2012 ----1.530340
2013 ----1.623018
2014---- 1.826278
2015---- 1.927767

Jimbo NOT once in the last 25 years has the pound gone to $3.00 - how can you bet on a currency with such flawed historical data?





Edited by skamy, 7 May 2015, 07:43 PM.
Definition of a doom and gloomer from 1993
The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
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newjez
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skamy
7 May 2015, 07:39 PM
You are wrong as usual.

The average over the last 20 years is $2.19
The average over the last decade is 1.96 where do you get your nonsense from?

http://www.ozforex.com.au/forex-tools/historical-rate-tools/yearly-average-rates

I have been over and back to the UK for the last 25 years so I know that the pound has rarely been at or above $2.50.



In only 6 of the last 25 years has the pound gone above $2.50 and then not by much . Most of the time it hovers about $2.0

The Australian dollar is also different currency these days so it is highly unlikely IMHO that we will see the high exchange rates of the early 2000s. The AUD is now a reserve currency - I cannot see the pound gaining significantly - the UK economy is still not that strong, plus the interest rates there are only 0.5% compared to ours at 2%.

1990----2.284651
1991----2.269749
1992----2.401616
1993----2.210037
1994----2.094353
1995----2.131954
1996----1.994035
1997----2.208607
1998----2.640214
1999----2.507137
2000----2.610650
2001----2.783102
2002----2.761822
2003----2.505361
2004----2.492206
2005----2.386887
2006----2.445405
2007----2.390299
2008----2.187308
2009----1.991784
2010----1.683697
2011----1.553389
2012----1.530340
2013----1.623018
2014----1.826278
2015----1.927767

Jimbo NOT once in the last 25 years has the pound gone to $3.00 - how can you bet on a currency with such flawed historical data?




It's not really a reserve currency. It's just the highest point in a flood.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Jimbo
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skamy
7 May 2015, 07:39 PM
You are wrong as usual.

The average over the last 20 years is $2.19

In only 6 of the last 25 years has the pound gone above $2.50 and then not by much . Most of the time it hovers about $2.0
But you said that the rate was at its average today? You are 30 cents out and Hoofarted was 20 cents out. So you are more wrong.

Quote:
 
Jimbo NOT once in the last 25 years has the pound gone to $3.00 - how can you bet on a currency with such flawed historical data?
May 1st 2006. $3.0054


Edited by Jimbo, 7 May 2015, 07:57 PM.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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Strindberg
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Jimbo
7 May 2015, 03:50 PM
It costs less than 0.5% so any movement greater than that makes a profit. Plus there is no time limit. I can wait six months for the rate to go in my favour before selling. It is not a leveraged trade so there is practically zero risk to me.
I'm interested in knowing where you obtain a retail spread (not interbank or spreads offered to large corporate, institutional and government clients) of <0.5% on buying and then selling GB pounds.
Housing costs to Income broadly unchanged since 1994 - re-ratified here
The People of Australia have the highest median wealth in the World
2002-2012 10 year house price growth the SLOWEST since 1952-1962
"There are two kinds of people in this world: ones that fiddle around wondering whether a thing's right or wrong and guys like us." (Hugo to Gagin in Ride the Pink Horse)
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zaph
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hoofarted
7 May 2015, 04:46 PM
No it isn't. The 20 year historical average is around $2.50 / GBP. You sound like you are trying to convince yourself of something.
Why is everyone here quoting the GBP/AUD rate like they are British?
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Jimbo
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zaph
7 May 2015, 08:28 PM
Why is everyone here quoting the GBP/AUD rate like they are British?
Does it make a difference how you quote a cross rate?
Strindberg
7 May 2015, 08:10 PM
I'm interested in knowing where you obtain a retail spread (not interbank or spreads offered to large corporate, institutional and government clients) of <0.5% on buying and then selling GB pounds.
Covered it already. Any of the Forex companies will give you a decent rate if you are moving a large enough sum (over 100k). Plus you can haggle.

Edited by Jimbo, 7 May 2015, 08:45 PM.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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skamy
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Jimbo
7 May 2015, 07:51 PM
But you said that the rate was at its average today? You are 30 cents out and Hoofarted was 20 cents out. So you are more wrong.


May 1st 2006. $3.0054

For one day lol

Not one annual rate reached $3 - you are off on a fantasy. You have missed the boat Jimbo the pound has almost returned to its long term levels. How could it possibly go to its highest historical value when the interest rate for pounds is 1/4 of that for AUD. I think you are mad on this one.

Posted Image

The average value over a decade is $1.95 and my point was absolutely correct that the pound was already hovering near its historical value and it had left the low rates of the GFC already.

Hoofarted tried to bullshit you- telling you the historical value was $2.5 over 20 years. Why do you listen to dishonest posters like that ?

Definition of a doom and gloomer from 1993
The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
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