Sterling Takes a Pounding
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January 20th, 2009 at 4:17 pm
Good headline. Almost as good as today’s WSJ story today “Madoff’s Ponzi Case Leaves PETA Cowed”.
January 20th, 2009 at 6:57 pm
If you’d asked me if Sterling would be below $1.50 in my lifetime last year I would have said no. Now I wonder if parity isn’t in the cards if the smelly wet stuff really hits the fan over there…
January 20th, 2009 at 7:20 pm
I suspect parity is in the cards, sterling has been way overvalued for a long time and the market usually doesn’t stop at fair value, it overshoots the other way, good thing for the u.k. btw, spain or ireland aren’t so lucky they are stuck in the inflexible euro and that’s where big troubles are brewing.
January 20th, 2009 at 9:37 pm
Jck – speak for yourself. I live in the uk and am very disappointed that sterling has gone down and would have much preferred to have most of my savings being held in an “inflexible” currency that would have least kept some of it’s value.