Outlook for the Sterling

[instant-time]

As the sterling has vastly delined in the last year and its now 1.37 aganist the dollar and coming up to parity with the euro!
wha do you think is gonn a happen with the sterling will it regain some tstrength?

Last year the dollar was very weak for about 7 months!is now th sterlings time to be weak before a small recovery?

What are your oppinoins on the matter?

 

[deniser]

I think it will bounce back when the currency traders have finished having a go at it.

 

[instant-time]

I think it will bounce back when the currency traders have finished having a go at it.

i hope it will be before the end of the first quarter!

 

[edmondscommerce]

i hope its before i go on holiday again..

i was in france when it went below 1 euro - gutted :-/

 

[AdamJ]

$1.37 to the £ doesn't seem that bad - when I worked over there it was normally around $1.60 or thereabouts, so $1.37's not that far below that. The $2 to the £1 was a little unusual. Sadly, as we're off to Vegas next week.

 

[Mister B]

If I had a definitive answer I would undoubdetdly be sitting on a beach drinking pina coladas

I'm not so I'm here and FWIW, I think that it will stay low for the next few weeks or so until the euphoria surrounding Obama dies down and a little dust settles on the UK banking fiasco. Maybe in ten weeks or so it may get back up to 1.50 but the days of 2.00 are long gone.

Tough I know but the only consolation is that all of the big boys are going to hurt more than us

Mister B

 

[stugster]

I'm going to New York on 14th Feb... would be nice for it to bounce back a week or two before then.

 

[instant-time]

$1.37 to the £ doesn't seem that bad - when I worked over there it was normally around $1.60 or thereabouts, so $1.37's not that far below that. The $2 to the £1 was a little unusual. Sadly, as we're off to Vegas next week.

Yesterday it hit the lowest it has in 24 yars! doesnt seem that bad ?
Imports account for 33% of our GDP and the importing cots have now gone up from 50p to the dollar to 70p tot he dollar in thelast 6 months! Thats a 40% fall in the value of our currency ! thats devestating!

Maybe there are no importers or peole who deal in dollars/euros

Yes $2 to the pound was strong but at the moment its really weak!

 

[JTSystems]

Its astonishlingly poor!

Anything below 1.5 is not good, at all, as most of the world trades on the back of US dolla's,

That means thing like Computers are rising in price.

Most equipment is based on a 10% margin at distribution level.

So, this time last year when it was around 2 to 1, a $100 component cost £50, plus your margin, and that is £55

Right now, the same component will not have changed in price but will now cost n £72.99, plus your margin £80.29


That is a rise of 45.98% - THAT IS TERRIBLE.

I am going skiing next month and debating whether I take euro's out now, or then.

2 to 1 will come back I am sure, or if it doesn't then the cost of goods will equal out in terms of cost for each country.

Few years ago it was always deemed what was $50 in the states was £50 in the UK which an exchange rate of about 1.6.

Made everything very expensive for the UK consumer.

When it got to 2 to 1 is was about right for the UK market, on par in terms of "acceptance" for consumers.


Its going to take a while,and I fear it's going to go down even more.

I just hope that things like the Obama presidency and bank situation over here calms down soon so that we are able to get back..

But it's all assumptions knowing for 100% certified fact is impossible, otherwise I too would be on a beach some where drinking expensive drinks.

 

[Foremost]

If it does ever get back to $2 to 1, its not going to be any time in the next 5 years. Sterling was overvalued, and the decline in the currency is simply a correction in the price. It will probably get back to $1.50/$1.60 and the Euro will level out at €1.30m but not this year. The UK economy is in bad shape and this is reflected in the value of the pound.

 

[edmondscommerce]

anyone else thinking of emigrating?

 

[Mister B]

anyone else thinking of emigrating?

Not at the moment but if I were ten years younger then I'd be off like a rat up a drainpipe. Likewise, if any of the kids were to come home and tell me that they were off for good, then good luck to them. Might save me a fortune in handouts as well

Mister B