Tuesday, May 19, 2009
Time to rebook that foreign holiday...
Wall Street Journal: British Pound Reaches Seven-Month High
Good news for those of us planning a trip away from dreary 'ol Britain. I cancelled my holiday last month because the pounds was in the sh1tter, it was shocking how much less purchasing power my holiday money would have had. Hopefully things will continue to pick up before I go away in August...
Posted by little professor @ 05:38 PM (820 views) Add Comment
7 Comments
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1. crunchy said...
Don't speak too soon euro/gbp has hit major monthly support today. If it breaks I see further gains ahead.
2. Neil324 said...
Certainly getting interesting gbp/usd close to the 200-Day SMA the last time it closed above it was back on July 23, 2008 when the market was trading at 2.0000
3. tyrellcorporation said...
Great news also for those of us who are looking at the emigration route.
4. drewster said...
I'm not getting too excited. One pound only buys 1.13 euros. Hardly brilliant, considering that from 2000 to late 2007 the average was around 1.50 euros. Staycations all round this year....
5. vindicated said...
TC, we're also looking at the emigration route but we're hoping to head to the States. Been put on hold since the dollar strengthened.
Anyone have an opinion on what the dollar might do in coming months??
6. inbreda said...
@5
I reckon it will do next to nothing, or there is a slim chance it will disappear altogether!
7. peeping tom said...
The Wall Street Journal is just comparing the pound to the US dollar. Once the ECB starts 'quantitative easing' it should devalue giving the illusion of the pound rising in value.