Wednesday, Oct 29, 2008
Risky pound
Bloomberg: Pound Posts Biggest Two-Day Advance Against Dollar in 23 Years
Losses by the pound also reflected ``extreme levels of risk aversion,'' Paul Robinson, a currency strategist in London at Barclays Capital, said in a Bloomberg Television interview. The currency may trade at $1.55 in three months, he said.
But for today stocks and GBP riding high, yay
Posted by mountain goat @ 06:22 PM (538 views) Add Comment
5 Comments
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1. planning4acrash said...
Cripes. Is this a dead cat bounce or a death rattle?
2. flintster1994 said...
P4acrash
death rattle? For the dollar?
3. planning4acrash said...
Kind of, well, all are just up and down like yo-yo's. Hard to know what to think at the moment. One thing's for sure, the value of the currencies is totally arbitrary at the moment.
4. drewster said...
I think I'll take advantage of the bounce to switch out of sterling and into Yen.
(Note: This is not investment advice, don't gamble, blah blah.)
5. planning4acrash said...
Gold hasn't really budged against Sterling, and the Dollar just continued a prior trend down against gold. This is not a bounce for the pound, its a fall for the Dollar. A bounce for the pound would see it rise in value against gold.