USD v GBP

[Stephen Williams]

Hi,

I notice the pound has been weakening since the middle of July.

Stephen

[Dominic Jones]

Bugger!

Thanks for the update Stephen - I'll keep my eye on it...

EDIT: Just checked the exchange rate on xe.com, and it's listing £1 as $1.99 - so unless that's wildly inaccurate we British folk don't have to start panicking immediately. Although I'd prefer the dollar to drop even further!

Thanks again for keeping your ear to the ground Stephen - any more updates are definitely welcome!...

[Sanjin Jukic]

By the way of other currency exchange rates:

USD vs. EUR

1.00 US Dollar (USD) equals 0.73 Euro (EUR).

The calculation is based on the Bank Austria Creditanstalt exchange rates as of 2007/08/14.

[Martin Drew]

Here is a graph to look at while you wring your hands.

http://www.x-rates.com/d/GBP/USD/graph120.html (http://www.x-rates.com/d/GBP/USD/graph120.html)

M

[PaulClements]

Yeah it's a pain. In July $25,000 would've cost £12,135, at the moment it costs £12,562, if it should drop to say $1.85 to the £ like it was a year or so ago it'd cost £13,514. That'd be an equivilent of a $2500 increase from it's peak in July if it should drop to such levels again... Bummer

[Paul Leeming]

Don't worry, with the US housing market imploding and other countries beginning to realise that holding dollars in large amounts is losing them money, it won't be long before the US dollar begins to freefall as foreign governments divest themselves of the new basket currency (it's China's strategic trump card - they could win a potential war without firing a shot just by dumping the US dollar en masse overnight and instantly bankrupting the American war machine). You can't run a nation on phantom credit - sooner or later the jig will be up and the US government will have to face an angry population whose retirement funds just evaporated. I shudder to think what will happen when that occurs, but I fear it will come to pass sooner rather than later.

Short answer - don't worry (for those OUTSIDE the US I mean!). Aside from the minor day-to-day fluctuations your non-US currency won't be dropping significantly against the US dollar any time soon. Count on it.

[Moir]

it won't be long before the US dollar begins to freefall as foreign governments divest themselves of the new basket currency (it's China's strategic trump card - they could win a potential war without firing a shot just by dumping the US dollar en masse overnight and instantly bankrupting the American war machine).

Why would the Chinese government want to cause a crash in the value of their USD-denominated investments, while at the same time reducing the purchasing power of the biggest market for their exports?

Unless anybody here feels thay are an expert in currency markets, I would suggest you avoid making predictions on currency movements. If they are so easy to predict, why aren't you making money as a forex trader?

If you are worried that the GBP will fall against the USD between now and crunch-day, buy USD now.

[Roberto B]

more precisely, since a week ago.. on july 18 the rate was the same than august 8

[Stephen Williams]

Hi,

The rate changes minute by minute, what has changed recently is that £1 no longer buys $2 and that was what prompted my post.

Stephen

[Roberto B]

yeah, yeah.. but nothing has changed other than as.. since a week ago.. not a mounth!

[Stephen Williams]

Hi Filmaker's gang,

Check out 24th July that was the $ weakest point, that is more than 3 weeks ago, a 1 week graph does not give you the full picture.

Stephen

[Roberto B]

yeah.. but since july 25 it has had another peak.. august 8

the graph does not give us the full picture

[Stephen Williams]

yeah.. but since july 25 it has had another peak.. august 8

the graph does not give us the full picture

Hi,

The $ was weaker on 25 July than at any time on 8 August, so the upward trend started over 3 weeks ago.

Stephen

[Roberto B]

okay.. my reference has been my currency (euro) anyway, take a look..

http://www.x-rates.com/d/USD/EUR/data30.html

july 18 = august 8
july 24 > august 8
july 25 < august 8

[Stephen Williams]

okay.. my reference has been my currency (euro) anyway, take a look..

http://www.x-rates.com/d/USD/EUR/data30.html

july 18 = august 8
july 24 > august 8
july 25 < august 8

Hi,

The GBP is not linked to the euro so those closing prices have no relevance, maybe this will help.

http://www.x-rates.com/d/GBP/USD/graph30.html

Stephen

[Roberto B]

you're wrong stephen.. your GBP shall convert on the euro as british currency whether you british people want or not.. with or without gordon browns.. the economy speaks louder..


maybe this will help.

http://digg.com/business_finance/The_Bank_of_England_follows_the_stela_of_the_ECB_a nd_raises_interest_rates

and the european had heard the same before the general de gaulle's veto_s..

[Stephen Williams]

Hi Filmaker's gang,

The £ is not connected with the euro today or at any time in the near future, what may happen in the next parliament depending on election results is irrelevant to this thread.

It's a shame that you try to hijack so many threads that I am involved with, I started this thread because I thought it might benefit some of the UK readers paying in GBP.

What is interesting with your link (42 days old) the bank of England raised rates, the pound gained, it's now falling.

Stephen


you're wrong stephen.. your GBP shall convert on the euro as british currency whether you british people want or not.. with or without gordon browns.. the economy speaks louder..



http://digg.com/business_finance/The_Bank_of_England_follows_the_stela_of_the_ECB_a nd_raises_interest_rates

and the european had heard the same before the general de gaulle's veto_s..

[Roberto B]

no.. no..

first off, i have a point on the euro/GBP v USD.. politics is not irrelevant to economy.. and vice versa.. what i've wanted to show is:

there's no reason to think any FUD can change the things for the red customers.. european ones, british, whoever they are.. specially when there's an advantage to non us citizens.. a USD 1.27% stronger only during a period of a week does mean nothing..

don't be prophet about what you really don't know.. to guess here doesn't necessarily mean to be productive..





and don't take the things too much personal.. you've been posting all over the place.. i'm used to read you and i'm just answering you when i think you're giving FUD as usual.. maybe you cannot even notice.. who knows?.. :)

[Moir]

don't be prophet about what you really don't know..

Seems to me you're the one doing this.

Do you have some sort of crush on Stephen?

[Roberto B]

wrong move.. i have sources.. you?..

no offense but your loyalty to your sources seems to me the dogs loyalty..


Seems to me you're the one doing this.

Do you have some sort of crush on Stephen?

[Moir]

I have no idea what you are talking about. But I do like your hair.

[Roberto B]

Sorry I missed the fun, What did you say?


But I do like your hair.

[Simon Dean]

Stephen - I completely understand where you're coming from. With the amount of money being spent here it's worth watching what is going on.

If the housing market continues to grow and interest rates go up again (Which I suspect they will, just one more time) then the GBP will strengthen again - it MIGHT even be worth changing pounds into dollars if people are able to do that ahead of buying time. But that's up to the individuals...

I'm sure you're a person who can let daft comments float on by...

[Roberto B]

Stephen - I completely understand where you're coming from. http://www.clicksmilies.com/s1106/engel/angel-smiley-027.gif

[Martin Drew]

If the housing market continues to grow and interest rates go up again (Which I suspect they will, just one more time) then the GBP will strengthen again

I'm not so sure. Inflation is down to below the magic 2%, if it stays there interest rates won't rise (okay, I know that's a big if).

M