GBP crisis...yawn

Old Mar 18th 2010, 11:11 am
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Default Re: GBP crisis...yawn

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!
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Old Mar 18th 2010, 3:04 pm
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Default Re: GBP crisis...yawn

Good news The UK is ONLY going to borrow £132 Billion this year not the £170 Billion forecast!
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Old Mar 18th 2010, 3:52 pm
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Default Re: GBP crisis...yawn

Originally Posted by Stormer999 View Post
Good news The UK is ONLY going to borrow £132 Billion this year not the £170 Billion forecast!
Phew thats a relief then

Dewb
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Old Mar 18th 2010, 4:17 pm
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Default Re: GBP crisis...yawn

Originally Posted by Dewb09 View Post
Phew thats a relief then

Dewb
Yup..watch the NZD shoot up now.....
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Old Mar 18th 2010, 11:16 pm
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Default Re: GBP crisis...yawn

Originally Posted by danjones1 View Post
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!
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??
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Old Mar 18th 2010, 11:22 pm
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Default Re: GBP crisis...yawn

Will it heal ?
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Old Mar 19th 2010, 1:52 am
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Default Re: GBP crisis...yawn

Originally Posted by BEVS View Post
Will it heal ?
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.
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Old Mar 19th 2010, 1:59 am
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Default Re: GBP crisis...yawn

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....
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Old Mar 19th 2010, 5:33 am
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Default Re: GBP crisis...yawn

Originally Posted by Wooly_Cow View Post
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....
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?
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Old Mar 19th 2010, 8:42 am
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Default Re: GBP crisis...yawn

Originally Posted by Wooly_Cow View Post
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....
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Old Mar 19th 2010, 8:44 am
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Default Re: GBP crisis...yawn

Originally Posted by Genesis View Post
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.
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

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Old Mar 19th 2010, 9:07 am
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Default Re: GBP crisis...yawn

Originally Posted by Wooly_Cow View Post
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.
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
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Old Mar 19th 2010, 9:09 am
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Default Re: GBP crisis...yawn

Originally Posted by Dewb09 View Post
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
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Old Mar 19th 2010, 6:40 pm
  #74  
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Default Re: GBP crisis...yawn

2.12 its like watching a slow car crash

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Old Mar 19th 2010, 6:50 pm
  #75  
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Default Re: GBP crisis...yawn

Just checked XE.com

2.119



But not unexpected IMHO
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