Thursday, 11 December 2008

Pound's Fall Againt The Dollar

Gordon Brown blames the credit crunch on America and says Britain is best placed for recovery and that he has saved the world.
Take a look at this graph from Yahoo Finance . Call me cynical but doesn't a falling Pound mean that the rest of the world is losing confidence in it?
And here's another one from Yahoo Finance showing the Pound's collapse against the Euro. Looks like a converging trend to me.
The good news is that sterling is maintaining its parity against - see Yahoo Finance again - the Zimbabwe Dollar.


William Gruff said...

I think a vote of no confidence in Brown is not to be long delayed. There seems to be a feeling that he will call a snap election in the new year but I doubt it. I think that things will have deteriorated so much by late February/early March that a vote of (no)confidence will be unavoidable.

James Higham said...

Strangely, this is helping me just now although I do decry it in principle.

Gallimaufry said...

James, As the only principle worth following after the misrule of Blair and Brown is every man for himself, I don't blame you - besides I'm thinking of pricing my items on Ebay in euros as a hedge against further falls. Old Holborn has an interesting piece: