‘The big education for me is that civilisation is fragile and can be destroyed in a heartbeat' - Jeremy Brade, former peacekeeper in Sarajevo.

Thursday, August 07, 2008

UK worse than USA?

If it's the USA (aka The Great Santa) that's in dire trouble, how come the pound sterling has dropped 5 cents against the dollar, since July 17?


pej said...

The €/$ is down 0.07 euro cents as well.

My opinion is that there's a sucker rally on the $, since the fed and the treasury keep talking up the $.

I don't think they will rise interest rates any time soon, but rather likely to lower them when things keep on going worse and worse.

I often mention these on my blog ;-)

NMMM.NU said...

My thoughts indeed. In 1-2 mo we will see EUR/USD = 1.60 again.

Sackerson said...

Pej, Nikolay, thanks for your comments; "two views make a market". Pej, of course, I missed the fact that we haven't moved down against the Euro. Though some say we will.