Pound rebound?

reactor_3

Up over a couple of cents against the euro today, only 10% down on it's summer lever now, which ain't bad considering. Hope it continues.
Seems people are realising everyone else is up !!!!!! creek as well, the USA econemy shrank 3.8% in *one quarter* annualise thatand you have a number!!

Reaper

reactor wrote: »

the USA econemy shrank 3.8% in *one quarter* annualise thatand you have a number!!

Not quite that bad. If it continued at that rate it would become 3.8% over the year.

To quote the BBC article:

"The rate is annualised, which means that if the economy were to shrink at the same rate for a whole year as it did in the final quarter, it would shrink by 3.8%. "

tradetime

Yes that's correct, the figure although for a quarter is reported at an annualized rate

soulsaver

Gordon: Eh? Pound rebound? We can't have that... Get the BoE to cut interest rates again AD, or your a*ss is fried in batter...
AD: Already in the pipeline and spreading the rumour of printing money, by denying it (he he) GB...
Gordon: Good stuff Al; Can't have Sterling making a recovery, can we...

withnell

Not until the pound goes really bad, then Gordon can "save" the pound as well as saving the world.......

TREVORCOLMAN

Perhaps we could write to Mr Brown to ask when the pound will recover?

Mr G Brown
Minister For Depression
10 Downing Street
LONDON

trenchwars

Probably to do with what George Soros said recently:

http://www.telegraph.co.uk/finance/financetopics/davos/4371893/George-Soros-has-been-shorting-sterling-during-its-recent-slide.html

barrooo

Probably means george has closed out of his shorts on the pound, and now trying to talk it up, so he can get in again at a better price.
I think the reduction in the chance of the banks being nationalised, or the fear of it anyway, has boosted the pound, since our economy relies heavily on financials. Most other currencies have weakened against the dollar last week.
I think the pound may stall out this week, barring unexpected news, at either 1.4650 or about 1.50.

You can all quote me on that next week as it rockets up to 1.60:D

Loco

1 pound is now 1.14 euro

chopperharris

exactly what folk have said , soros and rogers manipulation of the market has fallen on deaf ears.

Still if you have billions for short term like they have , for small point manipulation , its still worth your while calling foul of the pound and the fools follow the pied piper.

Within the next couple of months , the eurozone will feel more of a pinch v the quid , more so by year end.

If holiday predictions are true then those taken in the usual spots will be down , and if the quid isnt strong enough then it wont buy as many beer tokens.

In a recession and job insecurity holiday choices get cheaper , then smaller in time taken , then not taken at all.

A sizeable chunk of gdp of parts the med local economy is holidays.The new boys on the EU block will be the bigger winners as they will be the cheaper ones.The longer established ones like spain , portu , canaries etc will all suffer through not reducing prices but increasing them instead....and that doesnt work.

Individual holiday rentals are down last year in the usual places.

tradetime

Still if you have billions for short term like they have , for small point manipulation , its still worth your while calling foul of the pound and the fools follow the pied piper.

Rogers opinion on Sterling was over the next decade, so not sure what your definition of short term is, but clearly differs from mine. He is primarily a commodities investor, not a short term trader, he simply makes some comments to stay in the media. As for Soros, the only comments I have seen of him were past tense, that is "he was short sterling, he covered out some time ago" so he'd be a bit late manipulating.