Currencies - What the hell is going on?

[Guest]

Not being of a financial mind, I have watched the Euro rise here in the last week, and at the same time sterling continue its slide, but was not sure why.

Saw this piece on the FT.com site, makes it a bit clearer for me at least.

“The market is so heavily negative [on] sterling at the moment and every bit of news that indicates a worsening UK economy is driving investors to the euro,”

Just noticed this morning the £ is 49.77 in Siam city bank, € 48.83, mixed blessings indeed.  

The British guys will have to show restraint on the amount of times they can open their zips I guess, a time for quality over quantity

[Drift Spunk]

U.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt as of 30 Dec 2008 at 05:27:03 AM GMT is:


Thats over 10 trillion, the highest in the world. over 580 billion of that is to Japan, interest statements will be delivered to the white house soon... A strong Yen means a strong AUD   Euro and pound is doomed in 09, the THB will fall with the USD as it's linked in a way.

[robbo]

now that the £ has gone below 50 baht and continues to slide,next stop is 40 baht...............ouch! oh boy the uk is fucked,as much as i like LOS my sights are now getting set on south america.

[terryw]

Currencies historically tend to move up and down in cycles. Despite having an incompetent and economic illiterate government the pound will probably gradually recover during 2009.

If I was holding alot of euros I would start worrying. The situation in the eurozone is unsustainable and it is likely that the euro will be the next target of the money speculators.

[Tomcat]

Dont plan on it getting better soon. In fact the band of probabilities is the widest i have known....it really is like throwing darts blindfolded.

It is not inconcievable that the UK pound could go to parity with the US Dollar and so a holiday in LOS would be very expensive as the baht seems to be un officially tagged/pegged to the US dollar to some degree as far as sterling is concerned.
Every time the $ moves the baht moves ( against sterling)

I have never known it to be as volatile as it is know and for anyone importing goods into the UK it is a nightmare. one has to fear the very worst is yet to come, in the UK anyway.

There is no good news

[robbo]

you are very right here im saddened to admit,thats my opinion anyhow,while currencies are very volatile the uk and most other major players are begining to feel the tip of the economic storm ,forecast for the year ahead are bad (and that comes from over optimistic, lying, politicians and bankers) so expect that it to be worse than that, the only glimmer of good to come so far is that prices in the uk have come down a little even so rip off britain is still just that.As for prices in such places as LOS , in real terms to me they are approaching a 50% increase to those of 2/3 years ago, so yes TOMCAT a holiday in LOS becomes an expensive bit of fun,if 3 years ago i spent £2000 on my trip this january ill have to find £3000/3500 anybody here like to tell me thats a bargain for a few weeks break. unlike many other places with the option of just making a shorter trip because of increased cost not a very credible one, going to LOS can now set me back a good £1000 flights,uk travel cost, hotels etc all just for 1 week,as much as i yearn to tread thai soil again im not yearning that much.