Pound falling against the dollar

[Fezant Pluckah]

Down to $1.46 and collapsing.

Thanks to all involved!

[poo at Paul's]

Gordon's just doing "all he can" to save the Special Relationship after the Lockerbie bomber was released and we grasses up the CIA over Ibrahim fkface's torture.

By doing all he can, I mean giving UK to the USA wrapped up in a pink bow that goes with Obama's ringpiece.

[rypt]

poo at Paul's said:

By doing all he can, I mean giving UK to the USA wrapped up in a pink bow that goes with Obama's ringpiece.

I'd rather be the 51st state than be an independent country ruled by Brown, at least as the 51st state I'd have some of the better US policies and could decide to move to one of the other 50 states

[mcbook]

In historic terms, 1.46 is not that low. Actually, many would argue that it is a far more sustainable level than the 2.00 figure we saw a while back.

As an aside, I get paid in AED (pegged to the USD) so any increase in the value of the dollar is pretty good for me!

[Mclovin]

if you think its falling against the dollar check the its falls against the aussie dollar...

[Fittster]

Fezant Pluckah said:

Down to $1.46 and collapsing.

Thanks to all involved!

So you'd like higher interest rates? Wouldn't be about your mortgage?

[Mclovin]

Fittster said:

Fezant Pluckah said:

Down to $1.46 and collapsing.

Thanks to all involved!

So you'd like higher interest rates? Wouldn't be about your mortgage?

we need high rates to make property affordable after above inflation rises since these idiots got in and started flipping their homes and raiding the coffers...

[rypt]

mcbook said:

In historic terms, 1.46 is not that low. Actually, many would argue that it is a far more sustainable level than the 2.00 figure we saw a while back.

As an aside, I get paid in AED (pegged to the USD) so any increase in the value of the dollar is pretty good for me!

I'd argue that 1.6-1.65 is the natural rate, we were in the 1.6 rate in 97, and dipped to 1.4s in 2001 I think before rising ever since.

A strong pound helps us when it comes to buying electronics, as it mitigates the price gouging and stupid taxes somewhat

Edited by rypt on Monday 1st March 12:00

[johnfm]

Mclovin said:

if you think its falling against the dollar check the its falls against the aussie dollar...

Beat me to it.

I am going to Perth in 4 weeks. Pound only buying $1.68. It was at $3.00 at the peak, but usually circa $2.50.


Thanks Gordon, you clown.

[Fezant Pluckah]

Fittster said:

Fezant Pluckah said:

Down to $1.46 and collapsing.

Thanks to all involved!

So you'd like higher interest rates? Wouldn't be about your mortgage?

I don't about my mortgage cos I don't have a mortgage...

I work almost exclusively in USD and simply cannot keep up with the rate it is crashing. 3 weeks ago $10k cost me £6250, now they cost me £6850. That's some difference...

[Puggit]

€1.10 to the pound and falling nicely...

[RichardD]

Traders build up record bets against sterling

http://www.ft.com/cms/s/0/2ac2c184-2517-11df-a189-...

ft said:

Sterling fell to a 10-month low below $1.50 against the dollar on Monday as figures revealed speculators had built up record bets against the pound and concerns grew over the UK’s record budget deficit.
...

Polls showed the lead of the UK’s opposition Conservative party had slipped to just two points, which, given Britain’s electoral system, would mean the Labour party would be able to form a minority government.

The pound dropped to fresh lows as traders reasoned that such a result would lessen the likelihood that the UK’s record fiscal deficit would be reined in.

Lee Hardman at Bank of Tokyo-Mitsubishi UFJ said with the balance of risks now shifting in favour of the formation of a minority Labour government, he had become even more bearish over the near-term prospects for the pound.

He said a Labour victory would further damage the fiscal credibility of the UK at a crucial juncture, given the party’s reputation for loose fiscal policy.

[Fittster]

Fezant Pluckah said:

Fittster said:

Fezant Pluckah said:

Down to $1.46 and collapsing.

Thanks to all involved!

So you'd like higher interest rates? Wouldn't be about your mortgage?

I don't about my mortgage cos I don't have a mortgage...

I work almost exclusively in USD and simply cannot keep up with the rate it is crashing. 3 weeks ago $10k cost me £6250, now they cost me £6850. That's some difference...

Working in a curreceny that you don't pay your bills in will always involve risk. If you find that a problem you need to consider some form of hedging.

Remember all paper currencies are ultimately doomed to become valueless, it's just a question of which one hits the bottom first.

[Puggit]

Times Article

[mcbook]

rypt said:

mcbook said:

In historic terms, 1.46 is not that low. Actually, many would argue that it is a far more sustainable level than the 2.00 figure we saw a while back.

As an aside, I get paid in AED (pegged to the USD) so any increase in the value of the dollar is pretty good for me!

I'd argue that 1.6-1.65 is the natural rate, we were in the 1.6 rate in 97, and dipped to 1.4s in 2001 I think before rising ever since.

Edited by rypt on Monday 1st March 12:00

I think you've got a point, to a certain extent. Essentially, what I'm saying is that statements like "X:Y is a natural or good rate" are flawed. Currencies trend upwards, trend sideways and trend downwards. Fairness is subjective and dependent of what side of the water you sit on.

[Fittster]

On the positive side I hope you haven't sold all your gold.

"(Reuters) - Gold rose to a 1-week high
on Monday on bargain hunting driven by a firmer euro, while
sterling-priced bullion struck another record as the British
currency tumbled against the U.S. dollar. Silver, also used in photography and electronics, jumped to
its strongest in almost a month to track gold and the price of
copper, which surged on worries about supply after an
8.8-magnitude quake hit top producer Chile."

£749

[mcbook]

Fittster said:

Remember all paper currencies are ultimately doomed to become valueless, it's just a question of which one hits the bottom first.

That's why I operate without cash. I have a bag full of gold shavings that trade with merchants in return for goods and services.

[Fezant Pluckah]

Fittster said:

Fezant Pluckah said:

Fittster said:

Fezant Pluckah said:

Down to $1.46 and collapsing.

Thanks to all involved!

So you'd like higher interest rates? Wouldn't be about your mortgage?

I don't about my mortgage cos I don't have a mortgage...

I work almost exclusively in USD and simply cannot keep up with the rate it is crashing. 3 weeks ago $10k cost me £6250, now they cost me £6850. That's some difference...

Working in a curreceny that you don't pay your bills in will always involve risk. If you find that a problem you need to consider some form of hedging.

Remember all paper currencies are ultimately doomed to become valueless, it's just a question of which one hits the bottom first.

Now's not the time to start gardening

I've looked into hedging, which is fine for stuff you know you need well in advance, but for short notice stuff, just not poss. I wired $7000 abroad today for a holiday I costed up 10 days ago, when the exchange rate was almost 10c better on the dollar. If I hedge SO far to my advantage it makes the quotes uncompetetive...

[rypt]

mcbook said:

rypt said:

mcbook said:

In historic terms, 1.46 is not that low. Actually, many would argue that it is a far more sustainable level than the 2.00 figure we saw a while back.

As an aside, I get paid in AED (pegged to the USD) so any increase in the value of the dollar is pretty good for me!

I'd argue that 1.6-1.65 is the natural rate, we were in the 1.6 rate in 97, and dipped to 1.4s in 2001 I think before rising ever since.

Edited by rypt on Monday 1st March 12:00

I think you've got a point, to a certain extent. Essentially, what I'm saying is that statements like "X:Y is a natural or good rate" are flawed. Currencies trend upwards, trend sideways and trend downwards. Fairness is subjective and dependent of what side of the water you sit on.

I'm working on the general assumption that UK, USA and major EU economies grow at similar scales - which is mostly a fair assumption to make.

[anonymous-user]

It actually hasn't dipped below 1.48 today so the op was wrong.

http://uk.finance.yahoo.com/q/bc?s=GBPUSD=X&t=...