Hmm, pound is looking a bit scary today!

posh*spice

Hmmm, I'm wondering at what point the BOE would consider putting up interest rates to support the pound? I'm not sure how much more fuel, food and heating inflation people can take....and for what?

purch

Putting up interest rates would not support GBP.

Never has, never will.

FX rates are a tad more complicated than chasing an extra 1/2 % in interest.

sabretoothtigger

Pound sharply up today. Qatar saving the day with investment apparently + something else I forgot and budget speculation I reckon.

However we got a dingo on the range, could he still bring it down ?

BOE KING PRERECORDED INTERVIEW ON THE UK ECONOMY ITV AT 6.30PM

Sterling Index At 1600 GMT
(JAN 2005=100) INDEX GBP/USD EUR/GBP
 PREVIOUS CLOSE 78.5 1.4924 0.8677
 OPEN 78.5 1.4938 0.8674
 10 AM 78.6 1.4939 0.8671
 NOON 78.7 1.4944 0.8647
 2 PM 78.9 1.4991 0.8638
 4 PM 79.1 1.5051 0.8623 

March 14, 2013 12:02 ET (16:02 GMT)

sabretoothtigger

cable losing a cent for some reason

Late Spot Sterling Rates In London
Current Bid-Ask Previous --------------- --------
 U.S.A. 1.5108-1.5111 1.5109-1.5113
 Euro 1.1749-1.1747 1.1647-1.1647
 Switzerland 1.4314-1.4322 1.4274-1.4283
 Japan 143.48-143.55 143.76-143.84
 Canada 1.5521-1.5530 1.5440-1.5448
 Norway 8.8338-8.8399 8.7343-8.7413
 Sweden 9.7772-9.7841 9.7130-9.7200
Denmark 8.7564-8.7601 8.6806-8.6852

March 20, 2013 11:00 ET (15:00 GMT)

worldtraveller

The pound has just crashed to a more-than three-year low against the dollar.

It is down 1.3pc in today's trading to $1.4871.

The last time it was lower was in May 2010.



BBC News

Graham_Devon

What's causing it today? Just more reaction from yesterday?

I would have assumed that as the ECB stated the same thing, the pound would have been relatively stable against the Euro but it's down even on that.

I note that the FTSE is down in response to a higher rate of people getting jobs today. This would normally send the markets higher, not lower....but appears they fear an end to QE (again).

Could we now class the markets as addicted to QE? It's been talked about for a long time....do we have the evidence now that it's happened?

gazzabboi

worldtraveller wrote: »

The pound has just crashed to a more-than three-year low against the dollar.

It is down 1.3pc in today's trading to $1.4871.

The last time it was lower was in May 2010.



BBC News

Would make sense for us to all go and buy some $ then

PaulF81

Graham_Devon wrote: »

What's causing it today? Just more reaction from yesterday?

I would have assumed that as the ECB stated the same thing, the pound would have been relatively stable against the Euro but it's down even on that.

I note that the FTSE is down in response to a higher rate of people getting jobs today. This would normally send the markets higher, not lower....but appears they fear an end to QE (again).

Could we now class the markets as addicted to QE? It's been talked about for a long time....do we have the evidence now that it's happened?

I think the market has confirmed that carney is the whitest, purest dove.

sabretoothtigger

Dollar is strong at present. From Yen which favours it and has outflows from accelerated QE plans and from the idea that FED will actually be able to retract its QE.
Iin turn this relys on their job growth and low inflation both are which are of dubious accuracy but are good enough for markets now.

So the moves are speculative, I think its fairly sure to revert in due course but for now cable is much weaker then I thought