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30/06/2009, 9:13 tom.daniel Joined on 25/06/2009 Posts 33 Re: The pound is on the brink morning all, not sure if you've seen yet, but i've just had a call to say that we are back above 1.18 this morning, its already staryed to drop off a little bit    Report

30/06/2009, 9:28 John Martin BRADLEY Joined on 30/04/2008 Cape Town Posts 150 Re: The pound is on the brink The pound broke through a very important level against the dollar this morning.  We could be in for some pound strength for a while.  It is possible we could be in a run up to 1.7 to the dollar (which has been mooted as a sustainable level against the dollar - ie neither strongly undervalued nor strongly overvalued) and so if the euro doesn't also gain strength against the dollar (it's looking weak at the moment) then we could see a nice rise in the pound against the euro ...or anything else could happen ... but my bets are on further short term strength for the pound against the euro. As I have typed this message the pound is rapidly heading back to where it started this morning.  It will be interesting to see what happens in the next few hours as I think this may give a clue as to what happens over the next few weeks. JM JohnBradleyPhotography.com Dog Bless You.    Report

30/06/2009, 9:33 John Martin BRADLEY Joined on 30/04/2008 Cape Town Posts 150 Re: The pound is on the brink Wow the pound just fell substantially off the back of three lots of bad news so all the gains made this morning have been lost. The UK Current Account is much worse than expected. JM JohnBradleyPhotography.com Dog Bless You.    Report

30/06/2009, 14:01 Jako Joined on 15/11/2008 Posts 65 Re: The pound is on the brink Check this:Sterling Crisis Looms as U.K. Unraveling Points to Budget Cuts    Report

30/06/2009, 14:22 JMB Joined on 22/03/2008 Somewhere south of Dover Posts 136 Re: The pound is on the brink This is a pretty realistic assessment of the conditions in Broons Britain. When the AAA rating is pulled the pound should fall back to it’s true value of around parity. I know this is not to everyone’s taste and it may hurt some people a bit, but it sure is good if you earn Euros and want to indulge in bargain shopping for boys toys.    Report

30/06/2009, 14:28 Bugsy Joined on 15/11/2006 Vienne (86) The Nice Bit Posts 5,646 Re: The pound is on the brink Now I don't know where you aquired such a 'pearl of wisdom' JMB, but the true value of the pound against the euro has always been around 1.50. A little time researching this will prove this to be so. "Don't have to be ashamed of the car I drive, I'm glad to be here, happy to be alive, It don't matter if you're by my side, I'm satisfied"    Report

30/06/2009, 14:59 JMB Joined on 22/03/2008 Somewhere south of Dover Posts 136 Re: The pound is on the brink Was Bugsy was. Now that  Broon and his little darling have brought the economy to the level of Somalia, that will be no more. Wait until the rating gets downgraded and the Broon gang carries on sabotaging the country, then the pound will plumb new depths.    Report

30/06/2009, 15:26 Daft Doctor Joined on 04/05/2008 Posts 61 Re: The pound is on the brink JMB,  I can't really see the pessimism that takes the pound all the way down to parity against the Euro.  When even when the pound was being sold off like billio around Xmas, it still didn't make it.  As neither a financial expert or an overoptimist, it seems to me that the pound has settled into a new trading range against the Euro, somewhere between 1.165 - 1.185.  Bad news pushes it towards the bottom, relative good news towards the top, simple as that.  If you look at the trend over the last 6 months though, there has been a steady climb for the pound.  If you consider the problems with some of the eurozone economies (Spain and Ireland) for example, and the exposure of former eastern block economies now adopting the Euro, why should the pound plummet all the way back to parity?  What it it that is so GOOD about the Euro that would make that happen.  Nothing I think.  The pound was heavily oversold before Xmas and my gut feeling is that ultimately when the dust settles 1.25 will end up being about right (as it was during much of 2008).      Report

30/06/2009, 15:35 tom.daniel Joined on 25/06/2009 Posts 33 Re: The pound is on the brink thankyou daft doctor for some sense There is ne real t'true value' for the pound against the Euro, and if there is it isnt above 1.50 or below parity. As you said the pound was being sold stupidly around xmas and still didnt make it. I had a report form my broker this morning saying the same thinga about the current range of 1.1650/1.1850, heading towards 1.20. I think it is safe to say thta we have seen a bottom in place, but the days of 1.30+ are still a VERY long way away im afraid    Report

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France ForumLegal and Finan...French FinanceThe pound is on the brink

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