Currency... Here we go again.

krycor said:
Amazing thing is the dollar this time is not as high as last time, but the pound is back up to 14.5o :eek:
Click to expand...

GBP has weakened quite a bit over the past 2 weeks. It was at 2.05:1 to the USD, now it's 1.98:1.
 
koffiejunkie said:
I wonder why? Didn't see the UK making waves much lately (except for getting a new PM, that is).
Click to expand...

Strangely enough their trade deficit has also narrowed recently, which should make it stronger. Still, over the past year it has gained substantially against the USD overall.
 
I don't know how things were a year ago, I was in the U.S. in early January, and since then it's stayed mostly the same. Was exactly $2 per pound. What does amuse me is how the Euro has gained. In January it was about equal to the USD, now it's far stronger.
 
I hope this doesn't affect 2010 preparations. I believe we're importing cement, what currency are we using?
 
You guys are all missing the big picture. The issue revolves around the yen and the carry trade. High-yielding currencies like the aussie dollar, new zealand dollar, zar, etc. have had huge investment by those borrowing ultra cheap yen. Those trades are now unwinding, hence the high-yielders are losing ground. For example, the new zealand dollar has lost 18% in the last month.
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X