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?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?3 comments:
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The €/$ is down 0.07 euro cents as well.
ReplyDeleteMy 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 ;-)
My thoughts indeed. In 1-2 mo we will see EUR/USD = 1.60 again.
ReplyDeletePej, 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.
ReplyDelete