Thursday, Aug 14, 2008
but growing fears about the fragile state of the UK economy and the global flight to the US dollar have hit hard.
telegraph: The pound is in freefall. Only a few weeks ago sterling was trading above $2,
Yesterday sterling touched $1.86.51.
Posted by big chris @ 01:45 AM (480 views) Add Comment
5 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Ah-so said...
Good news for exporters. A move back to $1.80 is long overdue.
2. bystander said...
"There was a glimmer of good news, with the employment statistics revealing that there is little evidence of inflation creeping into wage claims
All of which increases the chances of an interest rate cut sooner rather than later.
Good news for those of us with huge mortgages"
.....Except ofcourse it is shite for everyone who has lived within their means and saved.....pound worth sod all, inflation on the up, but as the UK PLC has been floging the debt mantra for so many years there are less of us who will feel hard done by by rate cuts and more who will celebrate 'cos their 'huge mortgages' will be inflated away and they will be able to re-mortgage at a more favourable rate. When are the unions going to earn their money (pay increases of 2.5%per year over three years, with inflation running at 4.4% and rising - GB has it all under control). Richard Fletcher another VI speaking for the masses.
3. mountain goat said...
bystander - "'huge mortgages' will be inflated away "
well said!
4. happyrenter said...
quick glance at oanda historic tables shows approx 20% fall in the last year for the pound vs Eurozone, Russia, Swiss, Brazil, China.......
5. Peeps said...
On the one hand, I'm actually quite pleased about this drop against the dollar, because for those who haven't yet woken up to the pound's decline, it will shake them out of their complacency.
On the other hand it appears that the pound will now track downwards with the euro, so that both will depreciate at similar rates with the pound / euro exchange rate staying at about 80p.