exchange rate help

[Rammah]

£1=5.79aed at the moment and going down.


Not to many banks passing on interest rate cuts,perhaps some will drop a little but not all.I though the money they where given from BOE forced them all to offer better deals.

It seems that Lloyds TSB is passing it over, bringing their SVR to only 5%!!!!!
Others would have to follow, but maybe not giving the cut in full!

Anyway, it's very unfair if they don't.... at the end of the day, I think there should be some regulations in place forcing them to pass it when they get it, otherwise, it's only them who are "benefiting" from the cut, and this doesn't resolve anything!

Rammah

 

[PropGuy]

UK rates slashed by 1.5% to 3%.Not much difference to currencies so far.
Rates could even go down to 1.5% !!!

Shock as interest rates slashed by 1.5% | Mortgages | Money | Orange UK

Had a call from my currency exchange company.They think it will be 5.5aed/£1 in 6 months.

long term trend is still postive. next summer it should be between 6.2 or 6.7. But it is really difficult to say what will happen, because Pound didn't fall on interest rate, it came down with the price of oil. If price of oil goes back up, it will go back up too.

 

[georgihh]

well seems like Euro and Pound are rising against US$, and loans should get easier to obtain too. Liquidity in the market is returning.

What has happened to the Forex is it closed - no news recently!
Couple of days ago we used to get update 2-3 times a day

 

[PropGuy]

What has happened to the Forex is it closed - no news recently!
Couple of days ago we used to get update 2-3 times a day

market is less volatile these days. I'll update if something significant comes up. Long-term trend is still upward imo.

 

[talk]

What has happened to the Forex is it closed - no news recently!
Couple of days ago we used to get update 2-3 times a day

1 GBP now = 5.659 aed and going down.

 

[PropGuy]

GBP broke long-term trend line, hope is gone for any rebound. Now all technical indicators are hinting down ward trend.

 

[Wannaberich]

GBP broke long-term trend line, hope is gone for any rebound. Now all technical indicators are hinting down ward trend.

Whats your prediction for the next 6 months?

 

[talk]

1 GBP now = 5.659 aed and going down.

1GBP now = 5.58aed and going down.

Unemployment to reach 2 Millon by the end of the year.


Oil down to 58 Dollars per barrel,although British Business News quotes oil to rise to over 200 Dollers per Barrel.

Anybody with any views on this market and how will it move currency market.

Also UAE up to third in world consumer confidence list.

 

[Wannaberich]

The pound is getting hammered again today thanks to the bad news from the Bank Of England.£1.5105 at the time of writing.God knows how low it will go.The lower the better.

 

[Wannaberich]

1.4950. The 1.5 barrier has been broken.

 

[showbiz]

DoBuy, why lower the better???

 

[Wannaberich]

DoBuy, why lower the better???

Because I may be selling in Dubai and bringing the money to the UK.

 

[georgihh]

$ strong

$ is getting stronger and stronger
Another 5-7% and I might start cashing up.
1Pound=1.37$ will be the time when I will start buying pounds

 

[showbiz]

$ is getting stronger and stronger
Another 5-7% and I might start cashing up.
1Pound=1.37$ will be the time when I will start buying pounds

do you think it really will get that low?

 

[georgihh]

do you think it really will get that low?

Ok first of all the pound is not as big as the $ and the Euro
So is very easily manipulated
The EC has predicted that the Pound will equal the Euro one day.
On the other hand the Pound was equal to the $ 30 years ago
The time is working against the Pound the question is how low can go
End of the day everything is speculation but I have the feeling that everybody is playing against the Pound and they will push it another 5-10% down

 

[talk]

1GBP = 5.368 AED and going downnnn.

 

[PropGuy]

very good interview FT.com / View from the Markets

 

[Wannaberich]

UK inflation down from 5.2 to 4.5.Bigger drop than expected.
Opens the door for a big interest rate cut in December and a further weakening of the pound?

 

[PropGuy]

UK inflation down from 5.2 to 4.5.Bigger drop than expected.
Opens the door for a big interest rate cut in December and a further weakening of the pound?

Yea, in short-term it has more chances of going down further. I'm Pound is close to bottom, it will reverse trend in next summer. That is my view.

 

[PropGuy]

This not based on TA, but most of the big forex investors I know are expecting 50% drop in the value of US$ in next 8 months.