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Justin Hale
Joined: 24 Nov 2007
Location: the Straight Talk Express
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 Posted: Fri Jan 11, 2008 6:01 pm Post subject: British Pound set to plunge in 2008? |
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According to the papers (.....), yes.
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2008 POUND TO MIRROR 2007 DOLLAR?
Indeed the UK economy faces many of the same problems that saw the dollar slide in 2007, leading analysts to think that there is plenty more room for the pound to fall. |
And from the BBC today (....)
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Sterling dropped to its weakest since the single currency was introduced in 1999, at 75.86 pence to the euro, before later strengthening to 75.63p.
The pound also hit a 10-month low to the dollar at $1.9485 in earlier trade.
After a strong 2007, the pound is expected to weaken in 2008 as interest rates fall and the UK economy slows.
The pound hit a 26-year high against the dollar last year, above $2.
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Beeyee
Joined: 29 May 2007
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| Posted: Fri Jan 11, 2008 8:21 pm Post subject: |
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| Well the government needs some way to get the people to agree to joining the Euro. A manufactured crash of the Pound would do just that. |
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thepeel
Joined: 08 Aug 2004
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| Posted: Fri Jan 11, 2008 8:48 pm Post subject: |
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Other nations have to lower the value of their currency to compete with a lower dollar. The pound is at a prohibitive value, from the position of an exporter. And as finance dries up as a massive source of income in the coming years, the UK is going to need a reinvigorated manufacturing and exporting base.
Or, it has totally nothing to do with lowering the value all nefariously in an underhanded attempt to join the Euro (which is also going to be devalued). |
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