Euro (€) Currency Thread

inspector_monkfish

dealsearcher wrote: »

So is the pound finally following the predicted path of regaining against the euro? Or is this just a blip?

possibly.

its having a good morning against USD (1.4200 at mom), but a bit slow against the EUR at the moment

dealsearcher

Now back at 1.085. Seems like the dollar has weakened more than the pound strengthening.

TuftyMatt

Come On The Pound!!

inspector_monkfish

its dipped under 1.08 already this morning
recovered to 1.0820 at mom

dealsearcher

Clearly the government is happy for the pound to sit at this low level. The markets see no government support for the pound and are just playing games with it. It creeps up a bit then there is profit taking and it falls back again.

I can't see the pound going up untill there is a clear improvement in the UK economy and there is no sign of that yet.

I don't think there is as clear an advantage for the economy to have a low pound as the government thinks. It increases the cost of raw material imports for companies and the cost of all imported goods and foods for us all.

The european countries have made an effort to protect their euro currency and it shows in the continuing strength of the euro.

inspector_monkfish

dealsearcher wrote: »

Clearly the government is happy for the pound to sit at this low level. The markets see no government support for the pound and are just playing games with it. It creeps up a bit then there is profit taking and it falls back again.

I can't see the pound going up untill there is a clear improvement in the UK economy and there is no sign of that yet.

I don't think there is as clear an advantage for the economy to have a low pound as the government thinks. It increases the cost of raw material imports for companies and the cost of all imported goods and foods for us all.

The european countries have made an effort to protect their euro currency and it shows in the continuing strength of the euro.

morning DS

all true enough
but all the euro economies are equally screwed !!

dealsearcher

Morning IM,

We must stop meeting like this.

The euro economies are screwed up but their governments are protecting the euro currency whereas the UK government is happy for the pound to fall, and so it has.

inspector_monkfish

dealsearcher wrote: »

Morning IM,

We must stop meeting like this.

The euro economies are screwed up but their governments are protecting the euro currency whereas the UK government is happy for the pound to fall, and so it has.

Ed Zackerly!

bout time someone started bigging up the Pound !

TuftyMatt

HEAR ME NOW

BIG UP DA POUND I SAYZ

BIG UP DA POUND


Anything goes if it can see us back above 1.10.... lol

inspector_monkfish

15:31 17Mar09 IFR-GBP/USD: BoE King Comments May Dominate UK Morning Press

[15:30 GBP/USD: BoE King Comments May Dominate UK Morning Press] London, March
17.

The content of the 20:10GMT speech from BoE Governor Mervyn King at tonight"s
Worshipful Company of International Bankers Dinner may dominate the UK morning
press tomorrow--and influence the pound. The BoE recently started "Quantitative
Easing", and will buy another GBP 3bn worth of gilts tomorrow re: the Asset
Purchase Programme it unveiled earlier this month.

Minutes from the March 4/5 BoE MPC meeting, at which Bank Rate was cut by
50bp to 0.5% alongside the APP announcement, will be published at 09:30GMT
tomorrow. UK unemployment data is also due at 09:30GMT tomorrow.

Loss consolidation is the big-picture sterling story, with 1.3965 marking
today"s pre & post-12:30GMT US data intra-day low. Touted support points below
include 1.3945 and 1.3900 (1.3895 was yesterday"s early Asian session intra-week
low). 1.3865 was last Friday"s low.