Dropping like a stone - GBP

[DimPrawn]

http://news.bbc.co.uk/1/hi/business/7182951.stm

The pound has fallen to an all-time low against the euro after weak manufacturing data underscored a gloomy outlook for the UK economy.
Sterling fell to 75.86 pence per euro, its weakest since the single currency was introduced in 1999.

The pound also hit a 10-month low versus the dollar at $1.9485.

After a strong year in 2007, the pound is expected to weaken this year as interest rates come down and the UK economy slows.

The pound hit a 26-year high against the dollar last year, above $2.


I think there is money to be made shorting the £ against the € over the next few years.

[milanbenes]

wow

that's amazing

look at it go down


Milan.

[d000hg]

"10 month low"
Big deal... after a 26-year high...

[sasguru]

wow

that's amazing

look at it go down


Milan.

You remind me of a two-year old kid looking at some fireworks. He doesn't know how it all works or why but is impressed nevertheless.

[AlfredJPruffock]

How very odd DP - I was thinking this afternoon whilst dining somewhere in Belgium that the pound could be due to a rather sever correction - why shouldnt it go the same way as the Greenback - I would say it could drop a lot - perhaps 30pc over the next six months ...

[DiscoStu]

You remind me of a two-year old kid looking at some fireworks. He doesn't know how it all works or why but is impressed nevertheless.

I almost had a coffee/keyboard moment.

[oracleslave]

How very odd - that the pound could be due to a rather sever correction

Those Belgian beers do pack a punch don't they?

[milanbenes]

sas,

nevertheless, I think it's wonderful

Milan.

[tay]

It is putting my November retirement plans in jeopardy

[AlfredJPruffock]

Those Belgian beers do pack a punch don't they?

They might do - but I dont like beer - I have been known to enjoy a glass of wine on occasion - but beer ? Jamais !