Pound hits 26-year US dollar high

[55starchief]

Quoting: Pod

The difference between $2.10 and $2.00 is only about 5 quid for every 100 quid you spend. So you'll need to be spending fairly large amounts of money to make any kind of significant saving.

When was the last time you ordered car parts and it wasnt over £100

£5 is £5 at the end of the day

[Titsy]

Quoting: Pod

The difference between $2.10 and $2.00 is only about 5 quid for every 100 quid you spend

dont forget that duty and vat are charged also... the better the rate the less you pay to the tax man...

[55starchief]

Quoting: Titsy

dont forget that duty and vat are charged also

indeed but if you know the com codes you can save on the import duty on some items, just goes to show making sure the invoice says what is actualy in the box can work in your favor

[Titsy]

$2.08115 to the £

[F Body]

Quoting: 55starchief

When was the last time you ordered car parts and it wasnt over £100

£5 is £5 at the end of the day

Basically make the most of the current exchange rate whilst you can , if it drops back down you'll be kicking yourself :kick:

[art b]

not much i need ,

but im off to have a look on ebay.com

[Roadkill]

Quoting: art b

but im off to have a look on ebay.com

Ditto . . .

[F Body]

Quoting: F Body

Basically make the most of the current exchange rate whilst you can , if it drops back down you'll be kicking yourself :kick:

The Dollar is crashing as we speak


BUY - BUY - BUY - BUY

[55starchief]

Quoting: F Body

The Dollar is crashing as we speak

What are you on about

$2.0842 at close of business, it did take a dip earlier today but bounced back. Crashing is when it loose ¢30 in a day

[F Body]

Quoting: F Body

The Dollar is crashing as we speak

That's what BBC News 24 said this afternoon

Now all they are saying is :

"Just when we think the American economy is about to nosedive, we are constantly amazed at the American consumer's ability to open up their bottom drawer and, hey presto, find another credit card to keep on spending with,"


It's all Bullocks

[55starchief]

Quoting: F Body

That's what BBC News 24 said this afternoon

oh i thought you got it from a proper news channel bloomberg.com is the only one worth looking at for the currency markets mate

[Roadkill]

What's the score at the moment ?

[55starchief]

Trading wont strat till 9am mate

[55starchief]

My bad i thought trading started at 9am but its actualy 8am but the dollar is on the up again so far $2.0847 up from last nights $2.0818

[F Body]

Quoting: 55starchief

the dollar is on the up again

Despite all the "experts" talking it down and oil is on the up again @ nearly $92 a barrell

[Titsy]

From what?

Remember, that the $ being weak counters the effect of rising oil prices...

[55starchief]

Ahhhh yeah $2.0894

[55starchief]

British Pound Gains Versus Dollar on Interest-Rate Differential

By Gavin Finch

Nov. 6 (Bloomberg) -- The British pound rose to near a 26- year high against the dollar on speculation the Bank of England will keep interest rates on hold through Dec. 31, while the Federal Reserve cuts borrowing costs.

The pound advanced for the eighth day in nine as stock markets in Asia and Europe rebounded, stoking demand for higher- yielding currencies. It was further buoyed after Marks & Spencer Group Plc, the U.K.'s largest clothing retailer, said first-half profit rose 40 percent.

``Market sentiment around sterling remains very strong,'' said Jim McCormick, London-based head of currency research at Lehman Brothers Holdings Inc. ``We're in a trend'' that ``probably means the dollar remains weak for the rest of the year.''

The pound climbed to $2.0877 by 11:51 a.m. in London, from $2.0806 late yesterday. It advanced to $2.0897 on Nov. 2, the highest since May 11, 1981.

[Titsy]

Now at $2.09570 to the pound...

[55starchief]

Quoting: Titsy

Now at $2.09570 to the pound...

up again now at $2.0982

[55starchief]

$2.1024

[Roadkill]

How long to wait . . . . . . . . ?

[HardRockCamaro]

Quoting: F Body

Despite all the "experts" talking it down

The "experts" are a bunch of idiots who don't understand or care about anything except their own personal gain.

So many times I've seen shares with a sell advisory along with an explanation by some idiot as to why you should sell them when I know full well that they're gonna rocket.

Case in point is IT stock, most analysts look at the biggest player in that market and if they issue a profit warning the whole industry sector takes a tumble.  I remember them doing it about processor chip stocks in 1999(?), they said to sell them as Intel had issued a warning that they weren't going to hit their estimated profits and AMD who had been struggling up until then were deemed to be an even worse buy.  Of course I knew full well that AMD had taken on a chip designer from DEC who had just finished designing the Athlon (was referred to as the K7 at the time) processor which was gonna blow the Pentium 3 out of the water.  Pity I was a poor student at the time as their shares were worth $8 at the time and were then worth $49 one year later after the chip had launched and was taking market share away from Intel.

I also knew that judging Apple shares on their PC market share was a bad plan as what actually matters is profitability and Apple have as much cash in the bank as Google, unlike Dell et al, as their profits are huge, plus throw in the success of the iPod (which I knew it would be as soon as I got one after having had 3 other mp3 players) which could not be measured by their computer market share, but has had a "halo" effect increasing their computer sales as more people have tried Macs out in their retail stores and liked them.  Analysts also said there was at least a 50:50 chance of the iPhone being a flop which I figured was highly unlikely as people still want iPods and the iPhone saves them having to buy a phone and mp3 player plus there is the expected ease of use aspect that consumers are starting to love.  Analysts said no way would they be able to topple Nokia and Motorola (favoured in the USA) but they also said the same about the iPod being dead as soon as Sony would get their act together and bring out a new mp3 player as we'd look at it as a new walkman.  Yeah right.


It's the same when the retail sector cries poverty in the UK but at the same time Marks and Spencers and Debenhams report record profits just a few weeks later...

[55starchief]

Quoting: Roadkill

How long to wait . . . . . . . . ?

still going up


$2.1047   

[55starchief]

Looks like this is the week to buy thanks to the chinesse


Nov. 7 (Bloomberg) -- The U.K. pound rose to a 26-year high as the dollar was pushed lower after a Chinese official said the country will diversify its $1.43 trillion in foreign reserves.

The pound gained to the highest since May 8, 1981, after Vice Chairman of the National People's Congress, Cheng Siwei, said China ``will favor stronger currencies over weaker ones, and will readjust accordingly.'' The U.K. currency was also buoyed on speculation the Bank of England will hold interest rates at a six-year high until 2008, while the Federal Reserve cuts.

``The pound benefited from a broader sell-off on the dollar after comments from the Chinese official overnight,'' said Alina Anishchanka, a currency strategist at UBS AG in London.

The U.K. currency climbed to $2.1039, the highest since May 8, 1981, and traded at $2.1037 as of 10 a.m. in London, from $2.0877 late yesterday. It fell to 69.85 pence per euro, from 69.73 pence.

Anishchanka forecasts the pound will fall to $2 early next year as the BOE prepares to lower borrowing costs. The currency has strengthened 6.8 percent against the dollar so far in 2007.

The Bank of England will hold interest rates at 5.75 percent when its monthly policy meeting concludes tomorrow, according to all but 3 of 61 economists surveyed by Bloomberg News. The others predict a quarter-point cut.

``We think it's too early for the Monetary Policy Committee to ease rates,'' Anishchanka said. ``They will want to see signs of an economic slowdown.''