foreign exchange update
Sep 2nd, 2008 | 09:27 AM
#1
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Joined: Jan 2003
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foreign exchange update
As of 1323 EDT 02/09/08
UK£ = $1.78437
EU€ = $1.45335
Go greenback go...
Actually no gloating here (unlike some on this board who gloated while the USD hit all time lows)
The fact is all currencies fluctuate on the basis of many factors....
Actually when first introduced, it was set up so €1= $1.17 so the fall all the way down to $0.80 was unnatural as was the rise to $1.60
Sterling should probably run about $1.50 to $1.60 and it certainly looks like, barring some sort of catastrophy, it is headed that way.
UK£ = $1.78437
EU€ = $1.45335
Go greenback go...
Actually no gloating here (unlike some on this board who gloated while the USD hit all time lows)
The fact is all currencies fluctuate on the basis of many factors....
Actually when first introduced, it was set up so €1= $1.17 so the fall all the way down to $0.80 was unnatural as was the rise to $1.60
Sterling should probably run about $1.50 to $1.60 and it certainly looks like, barring some sort of catastrophy, it is headed that way.
Sep 2nd, 2008 | 02:09 PM
#4
Joined: Feb 2005
Posts: 9,016
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What is needed is someone to explain the growth of M2 and M3 in the recent years and the reason for the increasing delta between those two. M3 just looks like an exponential curve (to me), doesn't it.
You'd need a hell of a lot of economic growth to compensate that.
Simply not possible.
Whatever reasons people use (make up) to justify currency fluctuations, the facts are here, we can't change them.
You'd need a hell of a lot of economic growth to compensate that.
Simply not possible.
Whatever reasons people use (make up) to justify currency fluctuations, the facts are here, we can't change them.
Sep 2nd, 2008 | 02:15 PM
#5
Joined: Oct 2005
Posts: 74,970
Likes: 50
I made large deposits this AM for two 5 bdrm houses and three London flats. Now, the £ may go lower still - but I am thrilled I didn't finally decide on the properties 8 weeks ago 
Hopefully, by the time final payments are due next Spring, the £ will be even lower.
Hopefully, by the time final payments are due next Spring, the £ will be even lower.
Sep 5th, 2008 | 11:46 AM
#6
Joined: Apr 2003
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Nov 13th, 2008 | 12:59 PM
#8
Joined: Jan 2003
Posts: 1,319
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The USD is still very weak, but has started to gain strength after the presidential elections. It was EUR 1 = USD 1.59 in 4/2008 and is now EUR 1 = USD 1.28 . Still a far cry from EUR 1 = USD 0.97 in 2002.
Will we see a return to EUR 1 = USD 1 ?
More difficult to interpret is the GBP. The GBP has been overvalued for quite some time, so has dropped pretty rapidly against the USD & EUR.
2007 GBP 1 = USD 2+
2007 GBP 1 = EUR 1.5
Today, expect :
GBP 1 = USD 1.49
GBP 1 = EUR 1.16
Will we see EUR 1 = GBP 1 ?
Peter
Will we see a return to EUR 1 = USD 1 ?
More difficult to interpret is the GBP. The GBP has been overvalued for quite some time, so has dropped pretty rapidly against the USD & EUR.
2007 GBP 1 = USD 2+
2007 GBP 1 = EUR 1.5
Today, expect :
GBP 1 = USD 1.49
GBP 1 = EUR 1.16
Will we see EUR 1 = GBP 1 ?
Peter
Nov 13th, 2008 | 02:06 PM
#10
Joined: Jan 2003
Posts: 602
Likes: 0
"The USD is still very weak, but has started to gain strength after the presidential elections."
Actually, most of the recovery from the dollar's low point against the Euro (1.62?) to its current not-so-low point occurred before the election. Not a political statement, just historical fact.
Actually, most of the recovery from the dollar's low point against the Euro (1.62?) to its current not-so-low point occurred before the election. Not a political statement, just historical fact.
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