Wednesday, 15 April 2009


I know I usually claim that daily movements are misleading and that a weekly view is a better way of viewing markets. However, thresholds are thresholds, and I'm glad to see that the pound has surpassed $1.50 in trading today. In fact, the pound has risen today against EVERY currency that the BBC tracks. So bully to us.

To be clear, this won't help the British economy much. The weak currency was helping quite a lot. However, it is a strong signal that the markets generally have a lot of faith in the world economy (and by proxy the British one). This is the good news I'm celebrating.

The pound has been consistently rising in value against the Euro, too, which is a good sign (for me as a potential tourist, if nothing else). Currently it is approx €1.13 to the pound.

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