Pounds Hits 26 Year High Against Dollar!!!

[Churchill]

Time to sell all those dollars!!!

Gordon.

[AtW]

Time to sell all those dollars!!!

Gordon.

He is paid in rubles now.

HTH

[DodgyAgent]

And put it into Polish zlotys

http://www.bloomberg.com/apps/news?p...refer=currency

Oct. 23 (Bloomberg) -- Poland's zloty traded near its highest in almost 5 1/2 years as the opposition Citizens' Platform party won early elections on Oct. 21 and as traders bet the central bank will raise interest rates further.

The Platform, with its pledges to slim bureaucracy and make the conduct of business easier, is seeking a partner to form a government coalition. Polish central bank official Andrzej Slawinski said in an Oct. 19 interview published today that the timing of rate increases is ``uncertain'' because of the stronger zloty and on concern higher food prices will stoke inflation.

The election's outcome ``was wonderful news for the market'' as it ``opens the door to real reform in Poland,'' said Lars Christensen, senior analyst at Danske Bank A/S in Copenhagen. ``It's fifty-fifty on a rate hike this month.''

The zloty climbed to as high as 3.6473 per euro, its strongest since May 2002, and traded at 3.6583 by 4:35 p.m. in Warsaw, from 3.6597 late yesterday.

The yield on the 5.25 percent Polish government bond maturing October 2017 fell 11 basis points to 5.50 percent, while the yield on the 4.25 percent security due May 2011 dropped 1 basis point to 5.50 percent. Bond yields move inversely to prices.

``The hikes were relatively moderate if we take into consideration the strength of economic growth,'' Slawinski said. ``The aim was mainly to stabilize inflationary expectations.''

The central bank has raised rates three times this year by a quarter percentage point each time to 4.75 percent and forward rate agreements show investors expect rates to be increased a further 25 basis points before the end of 2007.

Retail Sales

Sales at Polish retailers rose 14.2 percent last month, compared with 17.4 percent in August, a government report today showed. The country's unemployment rate fell to 11.6 percent in September, its lowest in almost nine years, according to a separate release from the Warsaw-based statistics office.

In other trading, the Turkish lira gained by the most in 2 1/2 weeks as Turkey held off assaulting Kurdish rebels in neighboring Iraq and stocks rose for the first time in four days.

Turkish Foreign Minister Ali Babacan said military action against the rebels remained an option and called on Iraq to crack down on the Kurdish fighters. Prime Minister Recep Tayyip Erdogan said his country is ready to attack the rebels at any time and called on the U.S. to resolve the dispute.

The lira rose to as high as 1.2095 per dollar, and was last at 1.2139, from 1.2307 yesterday. The Turkish ISE National 100 Index gained the most in two more than weeks as stocks in Asia, Europe and the U.S. rebounded.

The Romanian leu rose for the first day in four, advancing to 3.3682 per euro, and the Hungarian forint gained 0.1 percent against the European Union's common currency to 251.70.

The Czech koruna rose 0.3 percent to 27.159 per euro, while the Slovak koruna gained 0.3 percent to 33.490.

[milanbenes]

Afternoon Winston,

I like this bit...

'The next decision from the Bank of England's interest rate setters is due on 8 November, when they are expected to leave rates unchanged at 5.75%.

The perception that there will be no change has been strengthened by comments from one of the rate setters, Kate Barker.

In an interview with the Guernsey Press and Star, Ms Barker was reported to have said: "We are asking ourselves if things are so different from August and do we actually have to cut rates?"

'


in an interview with the Guernsey Press and Star !!!!

Milan.

[Lucifer Box]

in an interview with the Guernsey Press and Star !!!!

Milan.

A lot of influential people are based in Guernsey, Benes my old fruit

[Churchill]

Afternoon Winston,

I like this bit...

'The next decision from the Bank of England's interest rate setters is due on 8 November, when they are expected to leave rates unchanged at 5.75%.

The perception that there will be no change has been strengthened by comments from one of the rate setters, Kate Barker.

In an interview with the Guernsey Press and Star, Ms Barker was reported to have said: "We are asking ourselves if things are so different from August and do we actually have to cut rates?"

'


in an interview with the Guernsey Press and Star !!!!

Milan.

She was over there making a deposit. Feathering the nest, so to speak.

[milanbenes]

thank you Louis,

that was my point.

Milan.

[DimPrawn]

For the price of @ssguru's bedsit:

http://www.sothebysrealty.com/Proper...WT.mc_id=GBase

[Lucifer Box]

thank you Louis,

that was my point.

Milan.

I am happy to be able to underline your point making, Benes my old China.

[milanbenes]

Mr Louis Cypher,

I hereby promote you to the position and title of,

Official Benes Invoicing Ltd Point Underliner.

Milan.