Monday, Aug 03, 2009
Forget those High st Shop Closures and Repossessions
BBC: Pound hits 10-month dollar high
""The manufacturing sector has clearly pulled out of the nosedive it was in earlier this year and is no longer plummeting," said David Noble, chief executive of CIPS". "The pound rose as high as $1.6850 against the dollar - its highest level since mid-October". (But don't forget the rate was $2 last year!)
Posted by alan @ 01:35 PM (761 views) Add Comment
6 Comments
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1. contrails are not a conspiracy (formerly npnh) said...
Not according to http://www.x-rates.com/d/USD/GBP/graph120.html it hasn’t!
Call me old fashioned but I’d say it has been relatively stable since the beginning of June!
What are they on about?
2. little professor said...
$2 was abnormally high by historical standards. Sterling seems to be getting back to its comfortable level.
Still sucks versus the yen though
3. alan said...
It was up again at $1.6950 an hour ago.
Could the post earlier today about a dollar demise be correct?
LINK:
http://www.marketoracle.co.uk/Article12442.html
4. cyril said...
I thought that the collapsed pound was supposed to be helping our beleagured (?) manufacturing industry?
5. quiet guy said...
Thanks goodness - it's all over. Like a bad dream. Won't we be raising interest rates soon?
6. Fangweilo said...
Why hasn't anybody noticed that the pound is not actually going up, it's just that the world's benchmark currency, the dollar, is going down.