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Pound at record low against euro

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posted on Dec, 24 2007 @ 01:47 PM
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Pound at record low against euro


news.bbc.co.uk

The pound has fallen to a record low against the euro, as dealers expect more Bank of England (BoE) interest rate cuts in 2008.

The pound bought just one euro 37.6 cents in quiet Christmas Eve trading.

"There are increasing signs that the British economy has hit a brick wall triggered by the decline in the housing market," said analysts at BNP Paribas.
(visit the link for the full news article)




posted on Dec, 24 2007 @ 01:47 PM
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It's funny how both the US and the UK housing markets seem to be the cause for the drop in value of the dollar and GB pound.

Is the pound about to go the way of the dollar?
Is this a scam to turn the dollar into the Amero and to finally abolsih the pound for the Euro?

That makes sense to me. It seems the only way to do it.

The pound fought against the Euro so as to sustain the strength of the pound for as long as possible. Perhaps waiting for the dollar to make its move for the Amero.

When you also consider the dollar and the pound are the apparent main forces behind the war on 'terrorism' and the daily cost of said war is extreme, can only be designed to further reduce the value of both. Completely spend out as much as you can to bankrupt the two currencies so that replacement will be far easier by using the model that the currencies failed.

news.bbc.co.uk
(visit the link for the full news article)



posted on Dec, 24 2007 @ 02:52 PM
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I wonder why?

Could it be this?


Dec. 18 (Bloomberg)

-- The European Central Bank added an unprecedented $500 billion to the banking system as part of a global effort to ease credit-market gridlock through year-end.



posted on Dec, 24 2007 @ 02:57 PM
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reply to post by makeitso
 


I don't think so.

I have noticed that the Dollar has gained something against the Euro in this last week while the Pound was loosing, so there must be a local reason for this.

But I was worthless at economy (and the state of my personal economies are proof of that
), so I may be terribly wrong.



posted on Dec, 24 2007 @ 04:46 PM
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Just a funny realisation... Went home for x-mas and was wondering why I got so little of my home currency for the pounds I brought. I guess my pondering is answered.
Hope it stays down till I get back



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