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Pound back up around 1.20 again

Pound back up around 1.20 again

Old Jun 2nd 2010, 4:28 pm
  #16  
 
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Default Re: Pound back up around 1.20 again

Originally Posted by Tele Addict
Pru converted 35 billion GBP into USD to do the deal but now there is no deal it is converting back to sterling which is causing a temporary rise in the pound.
Not according to the FX bulletins - they would have had to convert it but they have not had to do so. If they had, Sterling would have dropped.
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Old Jun 5th 2010, 7:27 am
  #17  
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Default Re: Pound back up around 1.20 again

Originally Posted by Fred James
The GBP went up against the USD today - the EUR less so - the result is that the GBP went up against the EUR. It hit 1.2 today but has dropped since -probably speculators taking their profit.

What will happen - who knows - if I did I would soon be a millionaire!

The EUR is not popular at the moment for many reasons, particularly Greece and more recently the Spanish credit downgrade and Spanish banking problems.

The whole thing is so volatile you have to take the decisions to buy/sell on a daily basis. I bought Euros last week at 1.75. If it goes over 1.2 tomorrow I will buy some more. I can live very well if I can maintain a rate near 1.2 - being on a UK pension income in GBP, parity gives me nightmares!
Can you please let me know where you bought them @ 1.75 to the pound
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