tommyboy Posted November 16, 2005 Share Posted November 16, 2005 whats going on someone tell me, havent seen a drop like this for a while Quote Link to comment Share on other sites More sharing options...
OnlyMe Posted November 16, 2005 Share Posted November 16, 2005 (edited) A picture is worth a thousand words - this picture is from the 7th. GBPUSD Edited November 16, 2005 by OnlyMe Quote Link to comment Share on other sites More sharing options...
thomasthetanker Posted November 16, 2005 Share Posted November 16, 2005 I've got to admit the last year looks rather scary Dollar / Pound last twelve months Quote Link to comment Share on other sites More sharing options...
gone west Posted November 16, 2005 Share Posted November 16, 2005 I've got to admit the last year looks rather scary Dollar / Pound last twelve months Expect more of the same going forward, only this time, the dollar will be falling against other majors as well and particularly against gold. Bottom (for a while) should be in the 1.60s somewhere. Quote Link to comment Share on other sites More sharing options...
Time to raise the rents. Posted November 16, 2005 Share Posted November 16, 2005 You just witnessed the limited chance there was of a rate rise next year evaporate. http://www.sky.com/skynews/article/0,,30400-13463806,00.html The HPC bears will have trouble sleeping tonight....... "It looks like Mervyn King is getting it wrong on UK growth, inflation and interest rate policy," said David Brown, chief European economist at Bear Stearns International. "The only real debate for UK rates now is timing and whether the MPC will pre-empt market expectations for a February cut with an earlier move." http://news.bbc.co.uk/1/hi/business/4442086.stm Quote Link to comment Share on other sites More sharing options...
BuyingBear Posted November 16, 2005 Share Posted November 16, 2005 You just witnessed the limited chance there was of a rate rise next year evaporate. The HPC bears will have trouble sleeping tonight....... Not at all, it should be interesting, the Fed is continuing to raise and yesterday Bernanke raised the spectre of a 0.5% rise in a single session, doing nothing and watching the pound tank may mean potentially higher BoE hikes later on as this translates as inflation on oil and imports, which will squeeze retailers even more. The UK isn't an island when it comes to our currency. Quote Link to comment Share on other sites More sharing options...
BayAreaBear Posted November 16, 2005 Share Posted November 16, 2005 As long predicted in these hallowed columns. The house price crash will be for houses priced in GOLD. Pound sterling to be recognized as equivalent to Woolworth tokens The process is now well underway. GOLD gaps up this morning to £280 When GOLD is at $525 and GBP/USD is 1.5 GOLD in GBP will be £350. Quote Link to comment Share on other sites More sharing options...
gone west Posted November 16, 2005 Share Posted November 16, 2005 As long predicted in these hallowed columns. The house price crash will be for houses priced in GOLD. Pound sterling to be recognized as equivalent to Woolworth tokens The process is now well underway. GOLD gaps up this morning to £280 When GOLD is at $525 and GBP/USD is 1.5 GOLD in GBP will be £350. That, Sir, is a slight on the value of my Woolworths tokens! Quote Link to comment Share on other sites More sharing options...
debtfree Posted November 16, 2005 Share Posted November 16, 2005 You just witnessed the limited chance there was of a rate rise next year evaporate. http://www.sky.com/skynews/article/0,,30400-13463806,00.html The HPC bears will have trouble sleeping tonight....... http://news.bbc.co.uk/1/hi/business/4442086.stm i thought that for every 10% your currency devalues you should be raising rates by 1% ? if rates are lowered then we are heading into recession. either way you lose. Quote Link to comment Share on other sites More sharing options...
Mr_Nice Posted November 16, 2005 Share Posted November 16, 2005 You just witnessed the limited chance there was of a rate rise next year evaporate. http://www.sky.com/skynews/article/0,,30400-13463806,00.html The HPC bears will have trouble sleeping tonight....... http://news.bbc.co.uk/1/hi/business/4442086.stm Not all. Like any sane person I am looking for house prices to devalue significantly against other things other than Gordon's pounds. My gold, palladium, silver, Swiss Francs, Canadian Stocks have had a fantastic day. I shall sleep very very very well. Ciao Quote Link to comment Share on other sites More sharing options...
padders Posted November 16, 2005 Share Posted November 16, 2005 I guess this will put a stop to petrol prices going back down. Quote Link to comment Share on other sites More sharing options...
apom Posted November 16, 2005 Share Posted November 16, 2005 You just witnessed the limited chance there was of a rate rise next year evaporate. http://www.sky.com/skynews/article/0,,30400-13463806,00.html The HPC bears will have trouble sleeping tonight....... http://news.bbc.co.uk/1/hi/business/4442086.stm Look dude... you laugh at rate cuts.... ha ha ha... as if our HPC is only going to happend with rate rises.. we are 1.5% below average. we are tanking against the dollar.. Eventually it will go up.. Blah... Blah... If it doesent tomorrow.. hell, I am not getting any older... also.. all economists are saying it will rise.. The MPC said it will rise.. One article does not a recovery make.. Hell, as we have learnt... one article does not make a crash.. Quote Link to comment Share on other sites More sharing options...
the_duke_of_hazzard Posted November 16, 2005 Share Posted November 16, 2005 You just witnessed the limited chance there was of a rate rise next year evaporate. http://www.sky.com/skynews/article/0,,30400-13463806,00.html The HPC bears will have trouble sleeping tonight....... http://news.bbc.co.uk/1/hi/business/4442086.stm More expensive dollars = more expensive oil = inflation = rising interest rates Quote Link to comment Share on other sites More sharing options...
apom Posted November 16, 2005 Share Posted November 16, 2005 Can I say. The reason its not working anymore is that things have gone too far.. If rates drop, we enter recession. If they rise house prices drop as people fail with debt. The safest way forward is to protect the country.. forget the debt ridden few.. remember the country Quote Link to comment Share on other sites More sharing options...
IMupNorth Posted November 16, 2005 Share Posted November 16, 2005 In itself what the £ does against the $ isn't necessarily relevant. Its what the £ does aginst the weighted basket of currencies that matters. This reflects our trade with the rest of the world and this will reflect the impact on inflation. Does anyone know about this ? Does anyone know what % of the basket the $ makes up ? Sounds like you are all going on a 'speculation' trip about the dollar ! Keep your feet on the ground and consider the bigger picture. There's a thread about knee jerk reactions kicking around ! Quote Link to comment Share on other sites More sharing options...
FedupTeddiBear Posted November 16, 2005 Share Posted November 16, 2005 As long predicted in these hallowed columns. The house price crash will be for houses priced in GOLD. Pound sterling to be recognized as equivalent to Woolworth tokens The process is now well underway. GOLD gaps up this morning to £280 When GOLD is at $525 and GBP/USD is 1.5 GOLD in GBP will be £350. The largest % drop shown by the GBP here BBC Market Data is against the currency of the world's biggest GOLD producer! Quote Link to comment Share on other sites More sharing options...
OnlyMe Posted November 16, 2005 Share Posted November 16, 2005 In itself what the £ does against the $ isn't necessarily relevant. Its what the £ does aginst the weighted basket of currencies that matters. This reflects our trade with the rest of the world and this will reflect the impact on inflation. Does anyone know about this ? Does anyone know what % of the basket the $ makes up ? Sounds like you are all going on a 'speculation' trip about the dollar ! Keep your feet on the ground and consider the bigger picture. There's a thread about knee jerk reactions kicking around ! I think you'll find it is highly relevant. If it were not for the pund previously rising against the dollar for and extended period of time we would have not seen the cheap import prices that we would have and such low apparent inflation. Riding on a debt bubble and strong £ we were masked to the real effects - surging internal inflation in nearly everything. A hell of a lot of goods and commidites are priced in $ on the world market, the £'s standing against the $ is highly significant. Got to take the rough with the smooth. Quote Link to comment Share on other sites More sharing options...
DEATH Posted November 16, 2005 Share Posted November 16, 2005 (edited) It's hard to put a value on currencies backed with nothing..... Would you use my currency if it was backed with nothing, I kept it secret how much I was printing of it, I was already in the red by $50 trillion of it and I lived beyond my means by $70 billion a month? Welcome to the wonderful world of the dollar! Edited November 16, 2005 by DEATH Quote Link to comment Share on other sites More sharing options...
thomasthetanker Posted November 16, 2005 Share Posted November 16, 2005 Pound down 12% against the dollar since January Yen down 13% against the dollar since January Euro down 14% against the dollar since January Gold up 12% in dollars since January Quote Link to comment Share on other sites More sharing options...
Jason Posted November 16, 2005 Share Posted November 16, 2005 Gold has done very very well today! Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted November 16, 2005 Share Posted November 16, 2005 I think this is spin to try and get people into the shops before Christmas. The global inflationary pressures are enormous and there is no way the UK can avoid what is going on. FUD! Quote Link to comment Share on other sites More sharing options...
New Darker Law Posted November 16, 2005 Share Posted November 16, 2005 (edited) I think this is spin to try and get people into the shops before Christmas. The global inflationary pressures are enormous and there is no way the UK can avoid what is going on. FUD! That sir, wins the cigar! NDL Edited November 16, 2005 by New Darker Law Quote Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted November 16, 2005 Share Posted November 16, 2005 Pound down 12% against the dollar since January Yen down 13% against the dollar since January Euro down 14% against the dollar since January Gold up 12% in dollars since January if i new how to do it i would add a clip of a certain spandau ballet song at this point Quote Link to comment Share on other sites More sharing options...
Time to raise the rents. Posted November 16, 2005 Share Posted November 16, 2005 (edited) More expensive dollars = more expensive oil = inflation = rising interest rates You seem to have touched on something there, but: More expensive dollars = less expensive oil = deflation = lowering rates Think about that for a moment. Oil is generally priced in $ & the $ is strengthening. Why wouldn't oil therefore fall in $ price? Edited November 16, 2005 by Time to raise the rents. Quote Link to comment Share on other sites More sharing options...
van hoogstraten Posted November 16, 2005 Share Posted November 16, 2005 Sterling tanks, imports become more expensive, inflation goes up. BoE caught between a rock & a hard place - so they won't do anything. If everyone else is raising their rates how can we cut ours? Quote Link to comment Share on other sites More sharing options...
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