Comments on: GBP/NZD below 2.00 for the first time http://mattsblog.g2.co.nz/2010/12/gbp-nzd-below-2-00-for-the-first-time-ever/ Far away from my family and friends in New Zealand Sat, 16 Jul 2022 22:40:22 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: matt http://mattsblog.g2.co.nz/2010/12/gbp-nzd-below-2-00-for-the-first-time-ever/comment-page-1/#comment-8594 matt Tue, 04 Jan 2011 13:56:11 +0000 http://blog.g2-tech.co.uk/?p=757#comment-8594 Wow, this morning it was 1.996. Now, five hours later, it's 2.041. That's quite a rise in 5 hours (about 2.3% if I'm not mistaken). No wonder huge money can be made or lost on currency dealing. I wonder if the psychological effect of the currency being at 1.9999 triggered a mass buy of GBP which pushed it up sharply this morning on the markets' first trading day of the new year? Wow, this morning it was 1.996. Now, five hours later, it’s 2.041. That’s quite a rise in 5 hours (about 2.3% if I’m not mistaken). No wonder huge money can be made or lost on currency dealing.

I wonder if the psychological effect of the currency being at 1.9999 triggered a mass buy of GBP which pushed it up sharply this morning on the markets’ first trading day of the new year?

]]> By: matt http://mattsblog.g2.co.nz/2010/12/gbp-nzd-below-2-00-for-the-first-time-ever/comment-page-1/#comment-8585 matt Tue, 04 Jan 2011 11:35:00 +0000 http://blog.g2-tech.co.uk/?p=757#comment-8585 I thought exactly this initially, but then decided it was just far too risky. Every time the pound drops further my heart sinks, and I've realised I'm not a "risky investment" sort of guy. And of course, nowhere do I *promise* that interest rates will rise, nor that an interest rate rise will result in a strengthened Sterling :-D Even if it does happen, I wouldn't be surprised if such a recovery took 10 years, and if that happens, you'd be better off putting your money in a bog-standard NZ savings account for those 10 years. That's if such a recovery of the currency ever happens - this is a historic low for the pound. John Key may have made a lot of money trading currencies, but I bet he also had a lot of professional training! I thought exactly this initially, but then decided it was just far too risky. Every time the pound drops further my heart sinks, and I’ve realised I’m not a “risky investment” sort of guy.

And of course, nowhere do I *promise* that interest rates will rise, nor that an interest rate rise will result in a strengthened Sterling :-D

Even if it does happen, I wouldn’t be surprised if such a recovery took 10 years, and if that happens, you’d be better off putting your money in a bog-standard NZ savings account for those 10 years. That’s if such a recovery of the currency ever happens – this is a historic low for the pound.

John Key may have made a lot of money trading currencies, but I bet he also had a lot of professional training!

]]> By: Katrina http://mattsblog.g2.co.nz/2010/12/gbp-nzd-below-2-00-for-the-first-time-ever/comment-page-1/#comment-8575 Katrina Tue, 04 Jan 2011 06:01:26 +0000 http://blog.g2-tech.co.uk/?p=757#comment-8575 This makes me consider investing in pounds and capitalising on your promised rise. Perhaps you can keep me informed of what British interest rates are doing? This makes me consider investing in pounds and capitalising on your promised rise. Perhaps you can keep me informed of what British interest rates are doing?

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