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GBP V USD Exchange Rate

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worldtravellerworldtraveller Forumite
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The GBP V USD exchange rate dropped below USD1.20 = £1.00 this morning.
Could we actually be heading for parity soon?
There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...

Replies

  • edited 18 March at 12:46PM
    worldtravellerworldtraveller Forumite
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    edited 18 March at 12:46PM
    Now currently just below USD1.19, which I believe is its lowest against the dollar since 1985.
    There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
  • ThrugelmirThrugelmir Forumite
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    What's driving the $ upwards? Flight to safety? 
    “An investor who has all the answers doesn’t even understand all the questions.” - John Templeton
  • edited 18 March at 3:39PM
    worldtravellerworldtraveller Forumite
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    edited 18 March at 3:39PM
    What's driving the $ upwards? Flight to safety? 
    Pretty much! GBP recently dropped to a daily low of USD1.1757, but has recovered a bit. The Relative Strength Index is well below 30, indicating extreme oversold conditions, but abnormal conditions mean it could continue lower I guess!
    There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
  • edited 18 March at 7:26PM
    worldtravellerworldtraveller Forumite
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    edited 18 March at 7:26PM
    Currently we're at a low of USD1.1448 today, but the rate has recovered slightly to current USD1.1590, but still, basically, GBP has tanked, down over 4% in one day, one of the biggest one-day drops on record!

    There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
  • ThrugelmirThrugelmir Forumite
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    Buy quality UK companies with overseas earnings. 
    “An investor who has all the answers doesn’t even understand all the questions.” - John Templeton
  • Nick_CNick_C Forumite
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    Not just the USD.  1 GBP is currently < €1.07.  
    Also well down against the Yen - less than ¥123
    Not sure why the £ is taking such a hammering.  
  • HerzlosHerzlos Forumite
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    Someone had suggested it was a reaction to our budget speech but that doesn't seem to fit.
  • ThrugelmirThrugelmir Forumite
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    $ is the default global currency in dire times. 
    “An investor who has all the answers doesn’t even understand all the questions.” - John Templeton
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