Any ideas as to why our currency is starting to strengthen again?
07 January 2009, 04:41 PM
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I don't know why against the dollar, but I feel the pound with rally against the euro. Some of the european economies are in 5hitstreet and cannot devalue their currencies like we've done to lessen debt. It'll either drag the euro down of force some countries to pull out;either way it doesn't look good for the euro.
Plus, we being alone it'll be easier for us to ride the recession without the cumbersome restraints a common currency with many member countries bring. If I was a foreigner I'd be hoovering up as much UK assets as I could.
Plus, we being alone it'll be easier for us to ride the recession without the cumbersome restraints a common currency with many member countries bring. If I was a foreigner I'd be hoovering up as much UK assets as I could.
07 January 2009, 04:42 PM
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I don't know why against the dollar, but I feel the pound with rally against the euro. Some of the european economies are in 5hitstreet and cannot devalue their currencies like we've done to lessen debt. It'll either drag the euro down of force some countries to pull out;either way it doesn't look good for the euro.
Plus, we being alone it'll be easier for us to ride the recession without the cumbersome restraints a common currency with many member countries bring. If I was a foreigner I'd be hoovering up as much UK assets as I could.
Plus, we being alone it'll be easier for us to ride the recession without the cumbersome restraints a common currency with many member countries bring. If I was a foreigner I'd be hoovering up as much UK assets as I could.
Last edited by Gear Head; 07 January 2009 at 04:50 PM.
07 January 2009, 04:48 PM
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Outlook for the $ is weak, the £ marginally less so.
Or it's a dead cat bounce.
Why I typed count God only knows!
Or it's a dead cat bounce.
Why I typed count God only knows!
Last edited by FlightMan; 08 January 2009 at 08:44 AM.
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07 January 2009, 04:57 PM
#8
I think its due to the fact that eurozone is getting reading to cut their interest rates. Its only a matter of time before europe takes its crash and brings the pound back to normal 
BBC NEWS | Business | Euro weakens on rate cut evidence
BBC NEWS | Business | Euro weakens on rate cut evidence
Last edited by stevebt; 07 January 2009 at 04:58 PM.
07 January 2009, 05:09 PM
#9
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mmmm Astrologist only exits to make these Economic experts look good!!!
its just "the market" -- it will waiver about for a bit, and once the "herd mentality" of the experts subsides it will find its true level
obviously the general sentiment in the market was that it had fallen too far (usually due to said "herd mentality)
07 January 2009, 05:38 PM
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Quote:
"No I am genuinely interested. As I thought all the experts said the £ was just going to keep on getting weaker.
"
Are these the same experts who said that oil prices would keep rising?
"No I am genuinely interested. As I thought all the experts said the £ was just going to keep on getting weaker.
"Are these the same experts who said that oil prices would keep rising?
07 January 2009, 07:03 PM
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America keep on printing money and this is just going to keep bringing the dollar down.
Least Mr.Brown didn't opt for that, we'd be in more sh*t than anyone.
You could view it for the £ as first in the sh*t first out the sh*t.
Least Mr.Brown didn't opt for that, we'd be in more sh*t than anyone.
You could view it for the £ as first in the sh*t first out the sh*t.
07 January 2009, 07:11 PM
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07 January 2009, 10:09 PM
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This must, IMHO, be looked at as a long term problem. A 10% fluctuation does not mean much if it only lasts for a few days. We are looking at -0.5% or even -1% tomorrow of the BoE rate. I suspect we need to wait a good 3 months to see what the impact is of the rate changes.
08 January 2009, 07:13 AM
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Because most people now think the BoE will cut just 50bps today whereas more people believed they'd do 100bps previously. If they do cut to 1% today then the currency will definitely sell off again.
08 January 2009, 09:34 AM
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08 January 2009, 09:37 AM
#23
Also known as daz
Personally ive always felt our economy is stronger that the us, the only reason ours dropped so fast was the oil barrel prices being set in usd so helped bolster them, now we're in for the long haul the usd and the euro will be more widely affected.
That and it takes time to adjust to the initial shock of the credit crunch anyway.
That and it takes time to adjust to the initial shock of the credit crunch anyway.
08 January 2009, 09:39 AM
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