What's Going on with the Dollar rate???

[Tonish]

It certainly looks like I'm going to lose my virtual 5 pints. That'll teach me to listen to experts, but when I originally predicted 190's by the end of the year, it was on the basis of conversations with FX guys on both sides of the pond.

However, I am happy to give up 5 virtual pints as a low pound mostly works in my favour.

[BIGEYE]

Looks like the £ is starting the week same as it finished last week, on the slippery downward slope, now about the same as it was November last year. For all those with upcoming hols and haven't changed their currency yet, well....you've missed the boat! The $1.66 that I got from CCE nows looks great, and the $1.595 I got on the high street last week also looks not too bad a deal.

[Katys Grandad]

I'd prefer it higher but if it keeps above $1.60 then it's not too bad. This week might be crucial on that though and it's made a very poor start.[msnsad]

[BIGEYE]

$1.5828 just now, trending downwards. I guess that will fetch about $1.525 on the High Street today.

[Katys Grandad]

<blockquote id="quote" class="ffs">quote:Originally posted by BIGEYE I guess that will fetch about $1.525 on the High Street today.[/quote]Very good guess - M&S offering $1.526 this morning.[msnsad]

[becbecs]

Back over $1.60 this morning. Gordon,s speech must have had an effect

[BIGEYE]

I think $1.60 is the waterline, so just keeping its head above water. Mind you, I tend to think that BOE is trying to force the rate lower to make it more attractive to exports, but what do we export?

[Andrena]

I have noticed that it goes down every year at this time when the political parties have their annual conferences. They open their big mouths and the pound drops. Hope it goes up again before we go at the end of November although even the Euro has dropped and we are off to France next week.

Andrena

[Robert5988]

Report due tomorrow that forecasts $1.40.

http://news.bbc.co.uk/1/hi/business/8301418.stm <blockquote id="quote" class="ffs">quote:The Centre for Economics and Business Research (CEBR) believes the rate will remain at its current 0.5% level until 2011 and not reach 2% until 2014.

The report, due on Monday, will predict the pound will weaken further, falling to $1.40 and "possibly" below 1 euro. [/quote]

[Katys Grandad]

<blockquote id="quote" class="ffs">quote:Originally posted by Robert5988
Report due tomorrow that forecasts $1.40.

http://news.bbc.co.uk/1/hi/business/8301418.stm

The Centre for Economics and Business Research (CEBR) believes the rate will remain at its current 0.5% level until 2011 and not reach 2% until 2014.

The report, due on Monday, will predict the pound will weaken further, falling to $1.40 and "possibly" below 1 euro.

Hopefully not going to those levels again for while but the rise we've seen over the past few months seems to have run out of steam at the moment and the gains are being eroded almost daily.

I'm more confident than ever that the predictions for $1.80/$1.90 by the end of this year are miles off the mark.[msnsad]