http://www.zerohedge.com/news/2013-0...des-uk-aaa-aa1

Long overdue I think!

New low for GBPAUD coming up? Currently in the $1.46s.

Time to kick off those fraud investigations on the rating agencies I feel. Raid and arrest a few people and put the fear of governments into them.

The £<>A$ rate is really tanking, which suggests it wasn't totally expected.

Blimey !

How many GBP millionaires in the UK.... and where do you sign up.

Thats bloody amazed me.

Surely it wont last.... When does one get to the stage, where your stupid not to move there.

I see it but I dont believe it....... I guess a Aus Housing Crash will redress the balance for a lot of people.... If it ever happens



.

Going, going, gone....

1 GBP = 1.469 AUD

About time for the UK to downgrade the US?

Oh dear, it looks like quantitative easing (handing over truck loads of cash to banks who've used it to create a bond bubble) and austerity (squeezing consumers who are the economy's growth drivers) hasn't worked. Who would have thought...

Time to book London hotels.

I had a friend who played the currency game and transferred an enormous amount of Au$ dosh to GBP dosh, hoping to make a killing on the exchange rate when the GBP bounced back.

I think the amount was just under Au$ 800000

Great news. My negotiated day rate increase just doubled.

Dang- if dad's house ever sells, our share will not even cover a bathroom reno now.

from BBC article:
http://www.bbc.co.uk/news/business-21554311

"Moody's announcement sent the pound falling further in value, but financial analysts said the impact was likely to be limited because the markets had been expecting a downgrade for some time."

I reckon it might go down to GBP1.40 or 1.42 this week. Anyone else?

No.

I wish it would but I don't think so - not in the short term anyway. Personally I reckon that because so many major economies are being downgraded, the ratings agencies are being ignored - certainly the case with France and the US. Saying that, they will need to sort out their shit soon - they can't carry on like they have been without major reprecussions.

Ratings agencies did lose all credibility when they rated all that MBS shit as AAA. I think they knew it was garbage at the time but their friends at Goldman Sachs etc... twisted their arms and paid them a fortune to do it.