Tuesday, Dec 09, 2008
Why sterling looks set to fall even further
MoneyWeek: Why sterling looks set to fall even further
It's little wonder that investors are betting against sterling. The pound hit a fresh all-time low against the euro at one point yesterday, with one euro costing 87.38p at one point. The slide is becoming so bad that it threatens to shove Britain right down the pecking order of global economic powers.
Posted by damien @ 11:06 AM (450 views) Add Comment
4 Comments
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1. japanese uncle said...
The British Retail Consortium reported that the total value of high street sales fell 0.4% on the year before. In October, it was down 0.1%.
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And remember this is after the desparate 20% discount across the board.
2. Todays Username Is. . . said...
So does this mean the government will try to save the value of the pound at some point, say by raising interest rates to nearer 10%?
I might make Gordon Brown a sandwich - it's the only free lunch he's going to get!
3. str 2007 said...
JU
Do you expect them to keep slashing interest rates ?
4. japanese uncle said...
If BoE is seriously considering the national interest, IR should stop at 2.00% and eventually should go back to 4-5% level. Otherwise there will be run on the UK economy itself. The problem is they do not care about the UK's national interest at all. You need to know how speculators behind BoE is betting in various financial markets, to predict the trend of IR for the future.