The pound is on the brink

[ericd]

FLASH NEWS:

http://www.economy-news.co.uk/latest-exchange-rates-04201006.html

[NickP]

Sounds ever so interesting Eric,  I now know how my French neighbour felt when I tried to explain cricket to him. [:D]

P.S. what are Non-Farm payroll numbers?

[krusty]

Here we go with another one , is it the silly season already ? ......or do they know something ?

http://uk.finance.yahoo.com/news/euro-will-be-dead-in-five-years-tele-9676d682ced9.html?x=0      Euro 'will be dead in five years'

[mint]

1.2081............giddying or what?[:D]

[Bugsy]

I could almost laugh at this as its so typical of the story of my life really.

When I recently sold my bike I decided to put the money into a Livret A, as the exchange rate was poor.

Now I can watch the value of that small investment go down.

.

[Gluestick]

Just you wait, Bugs!

Today, Cameroon is to announce how really bad things are in terms of UK's fiscal chaos and deficit.

Now, pragmatically, "The Markets" should greet such honesty with delight: since addressing any problem and developing a subsequent strategy ought properly to presage a return to fiscal probity and balance: eventually........

Bet you the markets do a typical knee jerk and Sterling falls rather suddenly: on such "Adverse" news........

[Www]

 

[La Guerriere]

Aren't "The Markets" amazing ? They are run by The Masters of the Universe who require vast bonuses to reward their immense knowledge and insight, and at the slightest bit of bad news they all run around like wet hens squawking "THE SKY IS FALLING"

[just john]

and then a couple of days later bounces back, after all it's only the bounce that makes the margin[:D]

not that I'm too excited about the rises lately, having bought our project at 1.50 I've watched it decline throughout all the exchanges on payments for the work, bu99er

 

 

[ericd]

Here is the latest info:

Content deleted. Please read the forum rules, you can put a link but not the content. I have added the link below.

Foreign Exchange Daily Insight – The Pound rallies to a fresh 18 month high against the Euro of 1.21

[Quillan]

[quote user="La Guerriere"]Aren't "The Markets" amazing ? They are run by The Masters of the Universe who require vast bonuses to reward their immense knowledge and insight, and at the slightest bit of bad news they all run around like wet hens squawking "THE SKY IS FALLING"[/quote]

More like chickens with their heads cut off, their 'predicting' and I use the word lightly, might be better if they just tossed a coin, heads it goes up, tails it goes down. [;-)] The bit that really gets me is that if they say as many different things as possible one of them, by law of averages, will happen then they run round telling everyone how clever they were getting it right. [+o(]

[Gluestick]

What annoys me most of all, Q is when the market changes and the media interview some dipstick from a major player at Canary Wharf, who "explains" how "The markets have priced in.........." whatever good or bad news looms on the horizon: and then when the expected and pre-announced bad/good event/s actually transpires, despite "Pricing in" the effect, those identical same markets then react one again!

[:@]

[Gluestick]

e.g.

Quote: "

It is the Bank of England that should set interest rates...that is the right way to do things," he said in a television interview on the ITV channel. "We have seen a slightly worrying increase in inflation in recent months, so interest rates will be set to control inflation."

But he said the government must recognize that one of the pressures on interest rates is if the government borrows too much.

"That's one of the reasons why we need to get hold of this deficit and get the deficit down...Countries right across Europe are having to do this and we are showing the way in how it should be done in this country and that will help us to make sure interest rates stay lower for longer," he said.

The pound weakened against the dollar and the euro following the comments. By late morning the pound was trading at $1.4575 from $1.4570 late Thursday in New York, and the euro rose to GBP0.8515 from GBP0.8480.

Cameron said tackling the budget deficit is also key for keeping tax rates down."

Source:

[Albert the InfoGipsy]

£1 = €1.2174 this afternoon on the BBC site. Still looks to be trending upwards, too.

[mint]

Yes, it's on the brink of 1.22 !  1.2109 at the mo!  Yippeee!

[PaulT]

[quote user="sweet 17"]Yes, it's on the brink of 1.22 !  1.2109 at the mo!  Yippeee![/quote]

We are terribly excited - next time we go to France we may be able to eat [:D]

Paul

[mint]

You'd be excited too, Paul, if you were buying a house...........[:D]

[bubbles]

Will you stop it please, Sweet 17.

We are hoping to sell our house here in France.

This is not what we ordered at all.

Of course, a high rate until the compromis is fine.

Then 1.04 again would be lurvly!

Such a selfish person, aren't I.

[NormanH]

I don't understand the connection between the exchange rate and selling then buying another house in France.

[woolybanana]

Normie, you do understand the last post and are just being obtuse!

[NormanH]

Sorry I was talking about sweet's post not bubble's..

[woolybanana]

Normie, the sun is above the yardarm so just enjoy and dont think!

[mint]

You don't understand, Norman.  I might be buying a property with a dirty great big pond with funds still in the UK.  At the moment, several thousand pounds have already been knocked off the euro price.  At this rate, I think I'll just buy another building with a moat![;-)]

[NormanH]

You mean that you have a huge place here AND a huge place on the UK?

I may never speak to you again..[:)]

[woolybanana]

You wanna see her place in France; talk about Murky Towers! She makes the Addams Family look like council house dwellers.

[mint]

You two stop spreading rumours.  Can't a girl preserve a bit of privacy about her domestic arrangements?[8-|]