Pound continuing its slide . Where will it all end ?

eeja

When I last looked this evening $1.55.70 . Terrible news for Brits. Soon the price of petrol will have to rise due to the falling dollar despite oil hitting below $60 a barrel as oil is priced in dollars. That means higher bus train fares electricity , gas prices etc etc
The more money Gordon Brown throws at the problem , the lower the pound.
All agree ?

bjorn_again

eeja wrote: »

When I last looked this evening $1.55.70 . Terrible news for Brits. Soon the price of petrol will have to rise due to the falling dollar despite oil hitting below $60 a barrel as oil is priced in dollars. That means higher bus train fares electricity , gas prices etc etc
The more money Gordon Brown throws at the problem , the lower the pound.
All agree ?

You have any suggestions for us?

tomstickland

It must represent the market opinion that the UK is badly placed with respect to the recession.

pararct

It will end when the economy has been completely destroyed....

http://a-simple-monk.livejournal.com/14194.html

aqueoushumour01

bit ironic really - the problems originate in the US (although given how much debt we were holding there were always going to be problems) but everyone piles into relatively safe US dollars (and Yen), and sterling depreciates significantly. It's very low at the moment and so is a good long term bet IMO.

IT_nerd

I remember it being 1.9 odd a while back. I wish I had a time machine.

1echidna

I notice from a Times poll to be published tomorrow that the Tories lead has been cut and Brown's personal rating is ahead of Cameron's. I guess the public don't notice the falling pound particularly and the fall in the oil dollar price has been much greater than the depreciation of the pound so petrol prices have still fallen. In good times politicians are bad enough, but in bad times they become completely mendacious and I don't think the British public have become anywhere near aware of what bad shape we are in with the financial services sector shot through and nothing to replace it as a major income earner for the country.

MrExample

It's great news for exporters like myself. I've had a quite a nice pay rise since the peak of 2.1x early in the year.

gunnaknow

What's the best way to invest in euros? Get a euro savings account?

eeja

MrExample wrote: »

It's great news for exporters like myself. I've had a quite a nice pay rise since the peak of 2.1x early in the year.

Didn't think England had much left to export nowadays. Don't most foreign
currency earnings come from the service sector esp. the City ? NOW EVEN THAT SECTOR HAS BEEN DECIMATED.
My guess is you are employed in the tourIsm sector which will indeed boom next year. The Yanks will be over in droves !

rlfan82

pararct wrote: »

It will end when the economy has been completely destroyed....

http://a-simple-monk.livejournal.com/14194.html

...and who is he? Nostradamus?