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.


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.