spoon Posted March 16, 2008 Share Posted March 16, 2008 EURUSD trading with a 1.57 handle and yet GBPUSD lower trading below 2.02. Astonishing move on a Sunday night. I wonder which UK bank is going down tomorrow? Quote Link to comment Share on other sites More sharing options...
slurms mackenzie Posted March 16, 2008 Share Posted March 16, 2008 (edited) Genuine question, how can you infer such things from currency movements? Also if anyone else could care to answer, whats so bad about a weaker pound as far as i can tell it makes me more competetive in the global workplace? <<edit to add >> I'm off to read the entire 'sterling sliding' thread to see if it yields any answers. Edited March 16, 2008 by slurms mackenzie Quote Link to comment Share on other sites More sharing options...
Panda Posted March 16, 2008 Share Posted March 16, 2008 Emergency cut by the BOE? Anyone, big high street bank in the doo doo, this is like watching Dallas, just after JR was shot! Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted March 16, 2008 Share Posted March 16, 2008 (edited) EURUSD trading with a 1.57 handle and yet GBPUSD lower trading below 2.02. Astonishing move on a Sunday night.I wonder which UK bank is going down tomorrow? not too bad - if you remember last year when the FTSE 100 first plunged towards 6,000 the £ was losing $.02 before midnight dow and ftse futures not bad all things considered Edited March 16, 2008 by the end is nigh Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted March 16, 2008 Share Posted March 16, 2008 (edited) this is like watching Dallas I bet they wish they could rewrite the story so that the asset bubble was just part of a dream Alan Greenspan had. (Actually I'd quite like to wake up and find that house prices were 50% lower.) Edited March 16, 2008 by thecrashingisles Quote Link to comment Share on other sites More sharing options...
Not Long Now Posted March 16, 2008 Share Posted March 16, 2008 not too bad - if you remember last year when the FTSE 100 first plunged towards 6,000 the £ was losing $.02 before midnightdow and ftse futures not bad all things considered TEIN: How do you find this detail online? Do you have a link....? Thanks in advance, Quote Link to comment Share on other sites More sharing options...
A.steve Posted March 16, 2008 Share Posted March 16, 2008 Irrelevancy... At a social function this weekend, someone claimed (and was absolutely sure - even when I queried) that in the 70s they got $4 for £1... they were talking utter horse-dung... weren't they? Quote Link to comment Share on other sites More sharing options...
tinecu Posted March 16, 2008 Share Posted March 16, 2008 Irrelevancy... At a social function this weekend, someone claimed (and was absolutely sure - even when I queried) that in the 70s they got $4 for £1... they were talking utter horse-dung... weren't they? IIRC they are correct Quote Link to comment Share on other sites More sharing options...
spoon Posted March 16, 2008 Author Share Posted March 16, 2008 The point is with all the focus on Bear Stearns and Fed action sending the dollar lower, the dollar is actually APPRECIATING versus the pound meaning something nasty is afoot on our own shores. Quote Link to comment Share on other sites More sharing options...
A.steve Posted March 16, 2008 Share Posted March 16, 2008 Subject: in 1970s - $4==£1 IIRC they are correct Really? The only graphs I could find of this kind of historic data suggested that the last time it was above $3 to £1 was in ~1945. Is there something subtle I'm missing? Quote Link to comment Share on other sites More sharing options...
symo Posted March 16, 2008 Share Posted March 16, 2008 The point is with all the focus on Bear Stearns and Fed action sending the dollar lower, the dollar is actually APPRECIATING versus the pound meaning something nasty is afoot on our own shores. What like the media and our political masters talking up the knowledge economy. Just how much in the back pocket of investment banks and supermarkets are politicians? Well lets fall back on our engineering firms , d'oh no-one did anything to encourage engineers or scientists. A&L 2-1 B&B 3-1 BoE 100-98 LOL Quote Link to comment Share on other sites More sharing options...
Crashman Begins Posted March 16, 2008 Share Posted March 16, 2008 If only we knew... Who actually does ? The CEO's & top bods etc ? Quote Link to comment Share on other sites More sharing options...
South Lorne Posted March 16, 2008 Share Posted March 16, 2008 A bit out....1945..it was USD4 to the £1 ...70's more like 2.80 down to 1.60.....1985 GBP was down to 1.05...!.... http://www.miketodd.net/encyc/dollhist-graph2.htm Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted March 16, 2008 Share Posted March 16, 2008 TEIN:How do you find this detail online? Do you have a link....? Thanks in advance, i have an igindex account so get streaming prices for virtually everything - unfortunately you can't see these without an account Quote Link to comment Share on other sites More sharing options...
BandWagon Posted March 16, 2008 Share Posted March 16, 2008 The point is with all the focus on Bear Stearns and Fed action sending the dollar lower, the dollar is actually APPRECIATING versus the pound meaning something nasty is afoot on our own shores. At some point people are going to figure out that the UK property bubble makes the US bubble look like a little blip. Quote Link to comment Share on other sites More sharing options...
Guest vicmac64 Posted March 16, 2008 Share Posted March 16, 2008 As a statement your question is quite valid - with the financial news we are getting right now that the 4th or was it 5th biggest investment bank in america is well out of funds shall we say and given the Northern Rock Scenario if I had money in any of the riskier institutions that have been mentioned in the mainstream media I would be getting it out of there without much delay!!!!! So Actually there is as much chance of a British Bank going down tomorrow as there was Bear Stearns 'allegedly going down' on Friday - on Thu evening would you have predicted Bear Stearns calamities? I think not.......... Get you money to a safer place than fiat currency banks which it would seem on the face of it cannot be trusted. Quote Link to comment Share on other sites More sharing options...
crash2006 Posted March 16, 2008 Share Posted March 16, 2008 http://www.advfn.com/p.php?pid=mon&sym...&fp=9.0.115 Quote Link to comment Share on other sites More sharing options...
scuuzeme Posted March 16, 2008 Share Posted March 16, 2008 Irrelevancy... At a social function this weekend, someone claimed (and was absolutely sure - even when I queried) that in the 70s they got $4 for £1... they were talking utter horse-dung... weren't they? Not at all, my dad took advantage and took us all on a fly drive california holiday on the back of a 4 dollar quid. Petrol was about 7p a gallon or something stupid out there. I don't remember all that much of it though. Quote Link to comment Share on other sites More sharing options...
bobby9983 Posted March 16, 2008 Share Posted March 16, 2008 The UK "property bubble", is nowhere near as bad as the US's. Our problem is mainly contained to new build apartment property club scams in areas of oversupply, there will also be some fallout from tightening lending criteria especially in sub prime but this is a comparitively small percentage of the market compared to the US. Brokers and lenders over there have been practically murdering borrowers with ridiculous mortgages they could never afford. At least our buy to letters generally have good income to fall back on. Our undersupply will keep us from crashing too much. The US has had a massive oversupply of housing and very light mortgage regulation. Very different from us. Quote Link to comment Share on other sites More sharing options...
Montauk Posted March 16, 2008 Share Posted March 16, 2008 At some point people are going to figure out that the UK property bubble makes the US bubble look like a little blip. You are so right. As an aside, I have never seen such bad economic news in my lifetime. For those interested, check out "the housingbubbleblog.com". Bear Sterns is going down in the morning. The house of cards is really collapsing. Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted March 16, 2008 Share Posted March 16, 2008 sudden reversals on the futures - i assume a deal has been struck Quote Link to comment Share on other sites More sharing options...
A.steve Posted March 16, 2008 Share Posted March 16, 2008 Not at all, my dad took advantage and took us all on a fly drive california holiday on the back of a 4 dollar quid. Petrol was about 7p a gallon or something stupid out there.I don't remember all that much of it though. Please review South Lorne's post a few back... that references the exact same graph I looked at. The graph contradicts your story somewhat... however... I've met someone else who said exactly the same... something is clearly adrift here... I'd love to know what. Can you find any documents that suggest the exchange rate you claim? Can you find a different historic graph? Quote Link to comment Share on other sites More sharing options...
Not Long Now Posted March 16, 2008 Share Posted March 16, 2008 http://www.advfn.com/p.php?pid=mon&sym...&fp=9.0.115 Thanks, Quote Link to comment Share on other sites More sharing options...
Errol Posted March 16, 2008 Share Posted March 16, 2008 Gold up as well - Quote Link to comment Share on other sites More sharing options...
South Lorne Posted March 16, 2008 Share Posted March 16, 2008 As a statement your question is quite valid - with the financial news we are getting right now that the 4th or was it 5th biggest investment bank in america is well out of funds shall we say and given the Northern Rock Scenario if I had money in any of the riskier institutions that have been mentioned in the mainstream media I would be getting it out of there without much delay!!!!!So Actually there is as much chance of a British Bank going down tomorrow as there was Bear Stearns 'allegedly going down' on Friday - on Thu evening would you have predicted Bear Stearns calamities? I think not.......... Get you money to a safer place than fiat currency banks which it would seem on the face of it cannot be trusted. ....on this site Bear Stearns were seen to be in trouble last July .....surprised there is surprise...a bit like NR.... Quote Link to comment Share on other sites More sharing options...
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