Sunday, Apr 20, 2008
Sterling takes a pounding – and the slide isn't over yet
MoneyWeek: Sterling takes a pounding – and the slide isn't over yet
Sterling has hit an 11-year low against a basket of major trading partners' currencies, and looks set to continue to underperform against the euro and the dollar. What’s more, the direct investment inflows stemming from the boom in M&A activity were a key prop for sterling in recent years, and these have now gone into reverse.
Posted by damien @ 01:29 PM (213 views) Add Comment
1 Comment
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1. bystander said...
how low can it go?.....yesterday watched two economists on the BBC discussing parity with the euro, first time I have heard such a discussion and very worrying?? Any thoughts , I know several bloggers have suggested a two year prediction for parity, but another, about 6 months ago, mooted the idea that GB could offer entry to the eurozone and excahnge rate of 1.40 euro to the pound, as a teaser to get the sheeple to agree in the referendum, which may or may not happen. The only real difficulty I have with the latter prediction is that Crash would benefit from a low sterling exchange, having sold gold and bought euros in 1999/2000, and the trade deficit is dropping due to the weakness of the pound, so I see only downward pressure on sterling for the forseeable future. Hate is a strong word, but justifiable when Crash and his gang of thieves are mentioned.