More Doom - Run on the Pound Underway

[MrMark]

So what is the concensus on how low it will go on here?

It's more than £3 a pint where I'm located. That's pretty low, IMHO!!

[Liability]

So what is the concensus on how low it will go on here?

[AtW]

maximize their investments by switching from sterling to dollars.

They sell oil for dollars - their main UK "investments" are probably Man City, some houses etc.

Brown really did a sterling (hehe) job ****ing up UK and making it really unattractive for investments.

[OwlHoot]

Do people think it will get lower?

Surely the real situation in the States has not even been factored in yet?

After Gordon Brown urged the Saudis to produce more oil and lower it's price, they are in a sudden flap about their reducing income and have decided to try and maximize their investments by switching from sterling to dollars.

[Moscow Mule]

On a similar note, do you think Sandra in accounts would like to go out for a drink next Friday?

Probably. I hear she's a sort.

[_V_]

If we cannot answer, then maybe LLoydsTSB can

On a similar note, do you think Sandra in accounts would like to go out for a drink next Friday?

[AtW]

Some years ago I wanted to open dollar account in the UK and it was like impossible - the best LTSB could offer was offshore account in one of their daughter companies: did not want to get involved with offshore stuff. It's probably too late to convert money anyway, better stick to it and ride the storm out then convert.

[ThomasSoerensen]

I asked this last week but nobody replied, I have quite a large sum in LLoydsTSB and I am seriously considering moving it to the Euro.

Can I just get the bank to do this? Have an account of Euros?

If we cannot answer, then maybe LLoydsTSB can

[AtW]

Surely the real situation in the States has not even been factored in yet?

The thinking is that the USA got into it first and were pounded all this year, now it's Europes turn and I think UK will be even worse than eurozone, so USA looks more attractive.

[Liability]

Do people think it will get lower?

Surely the real situation in the States has not even been factored in yet?

[PRC1964]

The costa-del-blue-rinse brigade are struggling. Their sterling pensions are not paying enough anymore.

[minestrone]

I asked this last week but nobody replied, I have quite a large sum in LLoydsTSB and I am seriously considering moving it to the Euro.

Can I just get the bank to do this? Have an account of Euros?

[Purple Dalek]

Nah, it just closed too high last week and is correcting that. Although I do expect it to drop quite a bit over the next few weeks.

[AtW]

UK exports cheaper.

Good for SKA - it helps improve Brittannia's balance of payments

[OwlHoot]

The pound has been dropping steadily against the dollar all day, and is now at $1.48 and falling ..

See graph here (To get GBP/USD, click "File" then "Change Symbol".)

Mind you, it may not be all doom and gloom, as it does make UK exports cheaper.