The £ again

[SantaClaus]

Its sinking fast cap'n. Hold on to your martinis because the coctail bar of the Titanic will be the first to hit the iceberg.

On the GBPUSD, we will no doubt see the November low of 1.4558 before midday tomorrow. I am sure the markets are pricing in a huge interest rate cut.

After that, next stop 1.4070 and then the year 2000 low of 1.3680.

 

[Platypus]

Its sinking fast cap'n. Hold on to your martinis because the coctail bar of the Titanic will be the first to hit the iceberg.

On the GBPUSD, we will no doubt see the November low of 1.4558 before midday tomorrow. I am sure the markets are pricing in a huge interest rate cut.

After that, next stop 1.4070 and then the year 2000 low of 1.3680.

God I hope so, my USD invoice is due for payment this week!

 

[d000hg]

God I hope so, my USD invoice is due for payment this week!

Indeed. My project has a few weeks in arrears due and pays in USD. I don't have a $ account with my bank, considering it but I have no idea if it's expensive or a PITA. Anyone done this with Abbey?

 

[ace00]

Its sinking fast cap'n. Hold on to your martinis because the coctail bar of the Titanic will be the first to hit the iceberg.

On the GBPUSD, we will no doubt see the November low of 1.4558 before midday tomorrow. I am sure the markets are pricing in a huge interest rate cut.

After that, next stop 1.4070 and then the year 2000 low of 1.3680.

1.4558 ? Ridiculous.
Any fool know it will be 1.4556

 

[Doggy Styles]

I'm thinking of opening a Zim Dollar account as a hedge.

 

[Cliphead]

I get paid in $$

 

[Ruprect]

I'm thinking of opening a Zim Dollar account as a hedge.

you'd want online banking!

 

[BlasterBates]

According to an FX trader on CNN, pray that the £ doesn't drop below 1.4, because if it does it will trigger a run on the pound. It seems that 1.4 will cause automatic selling of the pound.

 

[Moscow Mule]

According to an FX trader on CNN, pray that the £ doesn't drop below 1.4, because if it does it will trigger a run on the pound. It seems that 1.4 will cause automatic selling of the pound.

I amazes me that banks are still allowing their models to rule what they are doing.

 

[expat]

According to an FX trader on CNN, pray that the £ doesn't drop below 1.4, because if it does it will trigger a run on the pound. It seems that 1.4 will cause automatic selling of the pound.

The article http://marketoracle.co.uk/Article7526.html linked in sappatz's 1st December posting "comrade Brown bankrupting Britains" contains this slightly more precise formulation, with a graph:

The targets illustrated in previous analysis still stand in that sterling is projecting down towards £/$137.50 as a multi decade support level which may give temporary respite to the sterling bear market. However a break below £/$137.50 would target parity to the US Dollar, which will mean a 50% loss in the value of all assets for the duration of the bear market to parity and likewise 50% rise in the price of dollar imported goods and services and to a lesser degree from other countries, therefore highly inflationary.