Exchange rate for GBP

[Bazle]

We've got used to seeing the GBP fall on almost a daily basis for the last year or so. But, in the last couple of weeks, the GBP seems to be back in favour with rises rather than falls. I've just taken a look (http://news.bbc.co.uk/news/business/market_data/currency/default.stm) and it has nudged over the magical 50:THB mark

[pattaya_mad]

the exchange rate in the booths is normally around one baht lower than the bbc site, it is looking good very true but it could fall again as quick as its risen.

[Basil B]

The other thing of note is the £/$ passed 1.55 mark as well

[Kippax]

when will it hit 60 then

[jacko]

when will it hit 60 then

Autumn......

That was 1.60$ you meant?

Edited July 27, 2010 by jacko

[englishinsiam]

My latest quote today with Smart Currencies was 49.50 I'm waiting for the other .5 to transfer £11.5K

[THE_DRUID]

Upwards and onwards hopefully

 

Wed July 28th 2010 15.30 UK Time

 

 

Edited July 28, 2010 by THE_DRUID

[englishinsiam]

Just took 49.8 transferred £11,500 so lost £40 between my price and 50.

 

I can live with that.

[Bazle]

Back below 50 now. I knew Mervyn wouldn't let the party go on. Today he reduces his growth expectations and (in the opinion of some) hints at a double dip recession.

[englishinsiam]

Back below 50 now. I knew Mervyn wouldn't let the party go on. Today he reduces his growth expectations and (in the opinion of some) hints at a double dip recession.

 

 

It's not got a lot to do with that the problem is the £ is seen as a riskier currency than the $ and risk currencies took a battering over the last 2 days.

 

The Euro is still tipped to go to 1.19 against the $ and maybe a bit lower which will also weigh on the £

 

We had an oversold market which has pushed both currencies up in the last 2 months. I can see the £ going to 1.48 against the $ and the Euro reaching 1.18 before risk sentiment comes back and both currencies start to get stronger again. The double dip recession is talked about in America too not just UK so it makes me think even more the Govt's bought their way out of recession before so it was a false optimism.

 

As of yesterday the £ was 48.4 on the streets of Pattaya