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£ strongest major currency in the world in 2009

124

Comments

  • gozomark
    gozomark Posts: 2,069 Forumite
    DiggerUK wrote: »
    Quickie, what do you see as a fair exchange to the $US

    where we are now, in the 1.60's
  • DiggerUK
    DiggerUK Posts: 4,992 Forumite
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    gozomark wrote: »
    where we are now, in the 1.60's

    Cool, at 1.60 I'm 22 pounds an ounce up, but at 1.69 I'm 74 pounds an ounce up. :j

    Totally screwed if pog collapses under $860. :eek:

    Go sterling, go. To da moon.
  • gozomark
    gozomark Posts: 2,069 Forumite
    people then start asking questions about just how far it can go and will the £ be the strongest currency in 2009 ? ..LOL

    Basically the £ was grossly oversold 2008 and is now being bought back up to fair value. Expecting vastly more except against the Euro would not be fundamentally justified - agree. £ will probably remainthe strongest currency in 2009, as even if it goes nowhere from now to new year, its so far ahead already that it would take a big fall to lose its gain year to date.

    :beer:
  • sabretoothtigger
    sabretoothtigger Posts: 10,036 Forumite
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    hasnt gold in £ risen in the last 40 days. silver has I think
    I havent got a chart or symbol for gold £ really
  • gozomark
    gozomark Posts: 2,069 Forumite
    edited 3 June 2009 at 3:54PM
    does every thread have to be turned into one about gold ???

    this is about currencies, and £ in particular. I've nearly given up on this forum a couple of times because of the gold bugs taking over evey other thread, and now its happening to this one.
  • DiggerUK
    DiggerUK Posts: 4,992 Forumite
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    hasnt gold in £ risen in the last 40 days. silver has I think
    I havent got a chart or symbol for gold £ really

    I've bumped the gold thread with a reply. That's the proper place for my reply.

    Gozomark,
    Following forex is a crucial indicator for me, my interest in your thread was, and remains genuine.
  • tradetime
    tradetime Posts: 3,200 Forumite
    Whatever the cause of the strong rebound it is most welcome, let's hope it lasts for a while.
    Hope for the best.....Plan for the worst!

    "Never in the history of the world has there been a situation so bad that the government can't make it worse." Unknown
  • JoeCrystal
    JoeCrystal Posts: 3,381 Forumite
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    Just wondering, would the National debt of UK Government if it get too high or investors are no longer willing to buy Bonds, how would it affect the Pound Sterling? :confused: Also, How does the value of currency change in exchange market? It is like Supply and Demand or something else? I know that Pound sterling is good at the moment but I just want to know why it is so good at the moment :)
  • DiggerUK
    DiggerUK Posts: 4,992 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Joe Crystal,
    There is a body of opinion here arguing that sterling is returning to a more balanced position.

    This is a piece by Liam Halligan from last weekends Telegraph that warns of dollar weakness as he sees it.

    It does give you pointers to your question about government bond sales.

    http://www.telegraph.co.uk/finance/comment/liamhalligan/5413107/Bond-vigilantes-set-for-rebellion-against-the-Wests-wasteful-ways.html
  • nrsql
    nrsql Posts: 1,919 Forumite
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    JoeCrystal wrote: »
    Also, How does the value of currency change in exchange market? It is like Supply and Demand or something else? I know that Pound sterling is good at the moment but I just want to know why it is so good at the moment :)

    http://www.investopedia.com/ask/answers/forex/how-forex-exchange-rates-set.asp


    It's a lot due to fear.
    US dropped due to the mortgage crisis - but not by that much as it's big and has a manufacturing base.
    UK's banking crisis and escalating debt and lack of resources frightened people so sterling dropped by too much.
    This year we've seen a correction - and also probably gaining from lack of faith in other currenceies.

    I think it's probably overvalued but people are looking to diversify to reduce risk. What happens now depends on who has the next crisis.
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