The Sterling is heading nowhere
Written on November 13, 2008 – 2:34 PM | by dodolovesme
The lowest performance of pound yesterday signals the long and nasty period of recession. Sterling is selling low again the euro and dollar. UK unemployment has reached an 11 year high.
UK is prepared to cut interest rate whatever low to get rid of bad economy.
The new record pound now can buy less than 1.2 Euro. It won’t be too long for the average exchange rate of pound and euro close for one. Travelers won’t be happy with their US holiday. The exchange rate for one pound to dollars is 1.5.
Yesterday Alistair Darling said “We are going into recession, I remain confident we will get through it.” It seems government can not stop the impact of economic recession. The pound will be weak. Meanwhile, the government is carefully planning to pump a big chunk credit into the financial market without worrying about how their people to spend. The pound won’t stop falling.
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Tags: economy, exchange rate, government, people, pound, sterling, US dollar
7 Responses to “The Sterling is heading nowhere”
By jonasfederighi on Mar 6, 2009 | Reply
Impressive the exchange rate between UK and USA !!
Good to english buy some gifts in New York.
Better remain with cash …….
The exchange rate in Brazil now is US$ 1 per R$ 2,4 .
For UK you have a better deal, then come on to Brazil for some vacation.
Until economie beggin to breathe……
Thank you for your comment on my web.
Regards
Jonas
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