Jump to content
House Price Crash Forum
Sign in to follow this  
Ted

Pound May Fall To $1.20

Recommended Posts

Here you go:

http://www.bloomberg.com/apps/news?pid=206...iM&refer=uk

The U.K. currency also dropped against the yen after Darling said the government will extend a Bank of England program to inject money into the financial system and proposed insurance to underwrite mortgage-backed debt and toxic assets. The ruble fell below the weakest level since before the 1998 Russian crisis after the central bank devalued the currency for the sixth time in seven days to protect foreign cash reserves.
The pound weakened 0.4 percent to 90.38 pence per euro as of 11:35 a.m. in New York, from 90.03 pence on Jan. 16. Against the dollar, it slid 1.4 percent to $1.4530. The pound bought 131.44 yen, from 133.63. The ruble slid to as low as 33.2427 per dollar today, the weakest since at least Jan. 1, 1998, before the government defaulted on $40 billion of debt.
Investors should sell the U.K. currency against both the yen and the dollar, Derrick said, adding that it may drop below $1.40 and 1.282 yen in the next month amid speculation the Bank of England will cut interest rates further. The pound also slumped as more than $1 trillion of asset writedowns and credit losses worldwide prompted investors to shun riskier assets.
The pound may drop to as low as $1.20, Michael Klawitter, a Frankfurt-based currency strategist at Dresdner Kleinwort, said in a Bloomberg Television interview today.

Don't worry though, the £ in your pocket will still be worth the same! :lol:

Share this post


Link to post
Share on other sites
It did. It depends on the tick frequnecy you're looking at. I'm targetting about $1.30. Gotta love that USD. :D

Ahh.... ok.

For what it's worth, I think the $ is toilet paper as well to be honest.......

Maybe we should be more interested as to what the £'s value is against some of the economies that are doing well.

Are there any...? :)

Share this post


Link to post
Share on other sites
For what it's worth, I think the $ is toilet paper as well to be honest.......

Maybe we should be more interested as to what the £'s value is against some of the economies that are doing well.

Currency exchange rates are the ultimate ugly contest

Share this post


Link to post
Share on other sites

seems all the currency of individual countries have their own issues. america is bankrupt along with ourselves. the euro is in real danger of losing member states - like Spain with their downgrade today. The commodity currencies are falling apart - the Aussie and Canadian. the jpy seems to be fairing quite well but it doesnt exactly inspire much confidence. i wish i had a good candidate to park some pounds. looks like gold is coming out well. the low on cable seems to be 1.4349 on dec 31st last year.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.