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Patfig

The Great British Pound

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Just wandered what peoples thoughts were. Is all of this printing finally going to cause a devaluation?

I Suspect by the end od September it will be one for one with the EURO,And down to 140ish v the greenback.

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It actually whent back up a little on Friday v the €. Our markets are closed tomorrow but the other markets are open of course, so a bit of 'pent-up' demand or 'sell' on Tuesday maybe.

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It actually whent back up a little on Friday v the €. Our markets are closed tomorrow but the other markets are open of course, so a bit of 'pent-up' demand or 'sell' on Tuesday maybe.

You think the forex markets sleep because the UK has a holiday? :D

10pm tonight the slaughter begins again. Bend over, savers.

http://www.bloomberg.com/apps/news?pid=new...id=aWiRNy947lrs

U.K. Pound Declines Against Dollar, Euro as Economy Contracts

By Lukanyo Mnyanda Aug. 29 (Bloomberg) -- The pound declined for a fourth week against the dollar as reports added to concern the U.K.’s worst recession since World War II may have further to run, reducing demand for the nation’s assets.

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You think the forex markets sleep because the UK has a holiday?

10pm tonight the slaughter begins again. Bend over, savers.

Arrrghhh! Not again!

BrownKY.jpg

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+2

the parity-pound cometh....... :D

before xmas VWYF. ;)

So same story as last year but starting from even lower... I hope not. I didn't have much faith in the pound but after the last quarter of 2008 I thought 2009 was euro's turn to take a beating.

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So same story as last year but starting from even lower... I hope not. I didn't have much faith in the pound but after the last quarter of 2008 I thought 2009 was euro's turn to take a beating.

France & Germany are 'out of recession', Germany is one of if not the largest exporter per capita in the world, the ECB has stopped printing but in the UK we have a government and CB bent on devaluation to maintain competitive advantage. Go figure.

Edited by chris c-t

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France & Germany are 'out of recession', Germany is one of if not the largest exporter per capita in the world, the ECB has stopped printing but in the UK we have a government and CB bent on devaluation to maintain competitive advantage. Go figure.

Maybe it was all wishful thinking. I have a UK bond maturing in November but have now moved back to Spain. I'm not asking for much, just for the pound to stay above the 1.15 exchange rate so that I don't get a bit depressed when I convert my money into euros.

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Why'd you take the graph down? Looked interesting.

well, I could not find what I wanted... this was not the index. I could show the GBP/USD for the same period though if interested.

EDIT: ok here it is with a few of my own symbols..

gbp2.jpg

Edited by chris c-t

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well, I could not find what I wanted... this was not the index. I could show the GBP/USD for the same period though if interested.

Nah I Know what the $ has been doing - but that's two weak currencies IMO. My guess is the $ will prove even weaker than £ in coming months, hence my scepticism about the thread.

But I would be quite interested in 12 months of £ versus a basket of currencies all on one graph if there were such a thing.

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Serious question

Any recommendations as to what we (young couple baby on the way) should do with our roughly £150K in savings/inheritance, in sterling curently in the bank? (well 100K of it is still tied up legally in red tape, being inherited money, but we should have it by say mid-September)

So where to put it then?!

Would it be better off in another currency then or dare i say the big shiney G word?

Don't want to see the money for a month and then watch it become nearly worthless.

Suggestions very welcome.

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Serious question

Any recommendations as to what we (young couple baby on the way) should do with our roughly £150K in savings/inheritance, in sterling curently in the bank? (well 100K of it is still tied up legally in red tape, being inherited money, but we should have it by say mid-September)

So where to put it then?!

Would it be better off in another currency then or dare i say the big shiney G word?

Don't want to see the money for a month and then watch it become nearly worthless.

Suggestions very welcome.

I like silver at the moment. FWIW

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Serious question

Any recommendations as to what we (young couple baby on the way) should do with our roughly £150K in savings/inheritance, in sterling curently in the bank? (well 100K of it is still tied up legally in red tape, being inherited money, but we should have it by say mid-September)

So where to put it then?!

Would it be better off in another currency then or dare i say the big shiney G word?

Don't want to see the money for a month and then watch it become nearly worthless.

Suggestions very welcome.

I started a similar thread a few days ago....got some interesting replies. Concensus seemed to be that Other currencies could be considered: US$ but with reservations. Euro, Au$, Brazilian...., Jap yen, Canadian $ Nor Krone. Apart from the US$ are they all relatively too strong v £ currently to be worth it? Is the US$ a basket case too and best avoided. THe main issue with all currencies is lack of interest and the cost of converting out and back in. It needs a BIG crash to be worth it.

Shiny metals came up....Isn't ther a danger of buying the yellow one when it is pricey. Maybe silver is the way to go!!!!

I ended up feeling just as confused as when I started. Like 'Our Graham' used to say in Blind Date: "It's over to you!"

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