Jump to content
House Price Crash Forum
Spring In The Air

Pound Trading Higher

Recommended Posts

I noticed in an idle moment today the pound was at 1.7895. Looked a bit later and it had gone down by a fag paper.

Last week (well, recently) you were all posting furiously about the pound crashing, hit about 1.73 if memory serves.

It has nipped back up without an interest rate rise. Weird or what! If this carries on I presume a cut will be in order?

Share this post


Link to post
Share on other sites

http://today.reuters.co.uk/investing/finan...ERLING-OPEN.XML

Sterling ticks down, awaits UK GDP data

Wed Apr 26, 2006 8:52 AM BST

LONDON, April 26 (Reuters) - Sterling edged away from the previous day's seven-month high against the dollar on Wednesday and fell to a two-week low versus the euro with investors awaiting Britain's first-quarter growth data.
By 0740 GMT the pound stood at $1.7836 <GBP=>, down 0.2 percent on the day and
off Tuesday's seven-month high of $1.7943.
Sterling fell to the two-week low of 69.59 pence per euro <EURGBP=>.
The UK economy is expected to have grown 0.6 percent on the quarter in the first three months of this year, giving a year-on-year growth rate of 2.2 percent, compared with 1.8 percent previously. The data is due at 0830 GMT.

U.S. $

9:27am

1 U.K. £ =

1 1.7837

Share this post


Link to post
Share on other sites

I noticed in an idle moment today the pound was at 1.7895. Looked a bit later and it had gone down by a fag paper.

Last week (well, recently) you were all posting furiously about the pound crashing, hit about 1.73 if memory serves.

It has nipped back up without an interest rate rise. Weird or what! If this carries on I presume a cut will be in order?

It just means a lot of Sterling is being bought.

I wonder what that is in anticpiation of?

Share this post


Link to post
Share on other sites

Ooh. Sterling up by 0.001% must mean interest rates are going down.

To be fair there have been plenty of threads saying "sterling tanking" when it goes down by 0.001% too.

Share this post


Link to post
Share on other sites

I noticed in an idle moment today the pound was at 1.7895. Looked a bit later and it had gone down by a fag paper.

Last week (well, recently) you were all posting furiously about the pound crashing, hit about 1.73 if memory serves.

It has nipped back up without an interest rate rise. Weird or what! If this carries on I presume a cut will be in order?

Pound's actually down both against Euro and Japanese yen. It has recovered against dollar over last few weeks more due to the weekness of dollar and an anticipitaion of rate hike in the UK.

Share this post


Link to post
Share on other sites

U.S. $

10:12am

1 U.K. £ =

1 1.7820

Pound off slightly on the GDP news. Market may see inability to lower rates as a problem for the UK given recessionary trends in production and service sectors.

Share this post


Link to post
Share on other sites

http://freeserve.advfn.com/news_Forex---Do...y_15177536.html

The euro remained firm against the US currency, however, as yesterday's
strong German inflation data pointed to higher euro zone interest rates
.
"The G7/IMF call for greater currency appreciation across the emerging world
has been ignored thus far," said HBOS analyst Steve Pearson, adding that price
action in a number of Asian currencies is "heavily suggestive of official dollar
buying".

Looks like higher IR in EU soon?

Share this post


Link to post
Share on other sites

If anyone here can seriously understand the forex market, you shouldn't be on the board, you should be making a boatload of cash from it! :D

I think it's pretty useless trying to second guess currency prices and rates, you'll drive yourselves mad. The only long term (ish) play that seems obvious is a bullish outlook for the yen against the dollar, but even then, ****** if i know.

I do know that GBP/USD is a very volatile pair, and prone to big moves. Don't worry about it, unless you're planning to trade forex/forex futures.

Share this post


Link to post
Share on other sites

If anyone here can seriously understand the forex market, you shouldn't be on the board, you should be making a boatload of cash from it! :D

I think it's pretty useless trying to second guess currency prices and rates, you'll drive yourselves mad. The only long term (ish) play that seems obvious is a bullish outlook for the yen against the dollar, but even then, ****** if i know.

I do know that GBP/USD is a very volatile pair, and prone to big moves. Don't worry about it, unless you're planning to trade forex/forex futures.

That's right, trying to guess/judge currency movements is super-difficult, unless you're a real expert. Only a year or two ago the dollar was on the verge of collapse, before that it was the Euro... I'm amazed that so many people on HPC try to second guess things like currency and commodity movements. Even share prices, interest rate and property movements are very difficult to forecast. If you're a trader you trade what you see. And in my experience, one of the quickest ways to lose money is to have a long-term view. Sure, I believe that UK property prices will fall by 50% in the next few years, but I wouldn't bet on it!

Edited by Arctic Steve

Share this post


Link to post
Share on other sites

I think the Swedes have decided to sell a large percentage of their dollar reserves to buy euros. So the pound, though hardly buoyant, is sinking slower than the dollar

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...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 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.