danjones1

I would get out of £ sooner than later, talk of currency crisis like Argentina had, you'll wish you could get 2 nz dollars to the pound in 2011!

Stormer999

Good news The UK is ONLY going to borrow £132 Billion this year not the £170 Billion forecast!

Dewb09

Phew thats a relief then

Dewb

Stormer999

Yup..watch the NZD shoot up now.....

Genesis

What makes you say that? Some people are predicting 1.5

Is the GBP utterly ruined? Is 2.1 REALLY good value?????????? If you don't need the money is it worth waiting for the GBP to heal??

BEVS

Will it heal ?

Genesis

So, in the light of all the poor press myself and others have heaped upon the beleagured pound, who would NOW change a SUBSTANTIAL amount of GBP at the current crap rate of c 2.13?? Who has the nerve to hang on and see if it can climb to $2.40? Or by contrast who will make a move now afore it slides to south of 2. I remember at $2.50 thinking 'what the hell why don't I do the lot now'..alas I felt that $2.50 was insufferably low and thought it would within a year get back to $2.70 which is the 10 year median. Yeah right. 'Buy high sell low nice but dim Genesis' strikes again. Bollocks, thats what I say.

Wooly_Cow

The news today should be seriously good for the strength of the pound. The government now forecasts to borrow a lot less AND Moody's confirming the 'AAA' debt rating means the rates at which they get to borrow the deficeit will be good.

HOWEVER what I have seen is that the FOREX market seems to defy logic. Everytime there is good news the pound seems to plummet....so watch for values below $2.10 today....

zoglet

The markets are a law onto themselves. The fluctuations only occasionally seem to relate to financial news items. Also, notice how the pound almost always picks up over the weekend when we can't make trades? How does that work?

Personally, I think currency speculators along with hedge fund managers should be hung as traitors!

But watching the pounds constant plummeting to new depths of the exchange rate is not a fun game anymore - aren't we due a good spell soon?

Dewb09

Dewb09

Staring to seriously think about hedging our bets and transfering half our money to NZ and get it a good interest rate and leaving half here & hoping like mad the exchange rate improves

But might wait to see if you crack and transer yours soon

Dewb

simonsi

Not if that is what the markets were expecting, or if they were expecting better news it'll get hammered again. Nothing will settle or improve things until the election is sorted now IMHO, and that could derail any improvement/change between now and then, it all depends what the market expect vs what it gets... ish

simonsi

Dewb09

2.12 its like watching a slow car crash

Dewb

simonsi

Just checked XE.com

2.119



But not unexpected IMHO