Big Face

The following may be of interest to people needing/expecting to exchange GBP/USD within the next year.

Reuters Forex Poll ( 8 Dec 04)

........................ 1 Mth ................... 3 mth ................... 6 mth ....................... 12 mth

GBP/USD-Average: 1.9348 ................. 1.9054 ................. 1.8885 ..................... 1.8770

GBP/USD -Min....:. 1.8600 ................. 1.7600 .................. 1.7200 ..................... 1.6600

GBP/USD -Max...:. 2.0100 ................. 2.0100 .................. 2.1000 ..................... 2.1550

(Based on approx 55 forecasts from major worldwide Banks etc)



I guess polls/forecasts like this indicate that even us "FX professionals" have no real idea where FX rates will be in the future as can be seen by the wide divergance in the minimum/maximum levels!
Whilst the trend in the above overall "average" is for a weaker GBP/stronger USD. Im sure those of you hoping to sell GBP against USD will find the pollsters expecting a move upto 2.1550 in a years time far more "believable"....Good Luck!

Cheers

Franklin

Got to admit, I hope the dollar breaks the $2 to the pound barrier asap and moves on "upward" to $2.50 or so! The lower the value of the dollar the more we cut into outsourcing of jobs which (or the fear of outsouring) is acting like a brake on US job numbers. I want the dollar to remain weak for many years and I want the USA to pull out of the WTO as fast as it can. I am with the unions on the "global economy" ... it is killing manufacturing jobs in the west. I see next to zip benefit from the WTO, just more and more lost jobs.