Thursday, March 20, 2008

Is the pound the new dollar? There are obvious parallels between the UK and the US economies: several years of rapid growth, financed in part by a housing bubble, but a deteriorating current account, weakening public finances and a large overhang of house

After a decade riding high, the pound may have a long way to fall

Most of us have hardly noticed what has been happening, largely because we think of the external value of the pound in dollar terms.

Posted by chris @ 08:23 AM (455 views)
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One thought on “Is the pound the new dollar? There are obvious parallels between the UK and the US economies: several years of rapid growth, financed in part by a housing bubble, but a deteriorating current account, weakening public finances and a large overhang of house

  • After (probably) a bit more Euro upside, Dollar reverses and strengthens. Strengthens most against the non £ currencies so takes the pound with it to an extent. Technically since the top GBP / USD of 2.11 ish we have had a fall to 1.93 then retrace to 204ish (which was between a 50 – 61.8% retracement), now we have a fall to 1.97. Would be surpised to see 2.04 tested again for a while. (so am short at 2.03 with stop at 2.05).

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