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Is It Me Or Is The Pound Falling Big Time?

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aus = so called 'commodity currency'

dollar weakness = commodity currency strength = sterling big time debt currency with knobs on

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Guest DissipatedYouthIsValuable
With a devalued pound it will be difficult to leave these shores. It's all part of the plan. Anyhow don't mention the cricket.

With a devalued pound it won't make sense to do anything else.

Especially if you have a student loan to pay off.

Edited by DissipatedYouthIsValuable

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How much further would sterling have to fall before you became (really) worried about the value of our British currency?

China Syndrome.

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Pound down to 1.143 against the Euro down 3.6 cents since the latest free 75 billion or so was printed

wait till they actually start printing it....its in the pipe at the mo.

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With a devalued pound it won't make sense to do anything else.

Especially if you have a student loan to pay off.

I think I am starting to suffer some kind of stockholm syndrome in relation to the UK, although I haven't quite yet become sympathetic to my captors!

I think this crash is a gradual thing. Although we have significant news events, it's the steady gradual decline that catches people out. Probably the same with currency devaluation too.

Agree, If you are running from student debt then the value of the pound doesn't matter. I think UK citizens will face similar problems to Iceland's citizens.

Edited by crashologist

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Aus Dollar 1.95260 to the pound?

Don't look good? :lol:

.4205 - I think that's a record for the last 6 years I've been watching this cross.

The deposit under a mattress back home in NZ is looking pretty healthy at the moment.

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Guest theboltonfury
China Syndrome.

It was about 1.04 to the Euro 8 months ago, so it's actually doing rather well, comparatively.

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.4205 - I think that's a record for the last 6 years I've been watching this cross.

The deposit under a mattress back home in NZ is looking pretty healthy at the moment.

The Kiwi is strong at the moment. But it would only take another crash to see it go from US 0.68, where it is at the moment, to below 0.50. Hedge those dollars and buy stronger currencies such as Yen and gold. :rolleyes:

Edited by roman holiday

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It was about 1.04 to the Euro 8 months ago, so it's actually doing rather well, comparatively.

It was 1.46 some 2 years ago so its actually doing rather crap, :P

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The pound has been frighteningly bad in the past week against the South African Rand (ZAR). In October last year it hit R18/£, but this was a brief blip. See this graph for the Rand/£ graph in the last year.

It has been bobbing along at R13.2-R13.4 for the past couple of weeks, but recently went below R12.8/£. So the pound has lost over 25% in the last year, but more worryingly around 5% in the last month.

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Guest theboltonfury
It was 1.46 some 2 years ago so its actually doing rather crap, :P

Is another way of looking at it!

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It was about 1.04 to the Euro 8 months ago, so it's actually doing rather well, comparatively.

Prior to 8 months ago, the previous historic low was the equivalent of around 1.11 in 1995/96 (based on Deutchmark to Sterling rate).

From my very limited knowledge of the Forex market, Sterling lowest interbank rate against the Oz dollar was around $1.88 in 1996. Not far off that figure now.

And Sterling is well below its historic average against almost every other currency.

Any coincidence that the previous time Sterling was so low was in the dying days of a totally disfunctional and deeply unpopular government?

The question for me is whether the Pound bounces back as it has done in the past or whether it goes the way of the Argentinian Peso. Unless you've got assets outside the UK, I guess most of us would much prefer the former

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