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Shahla
Money Managing Guru
Joined: 13 Nov 2004
Posts: 3324
Cash Points ££ 126163.28
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 Posted: Fri Jan 18, 2008 3:47 am Post subject: Currency Forecasts 2008 - Protracted Selling of the British |
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By: Ashraf_Laidi
A likely major FX theme of 2008 is already being playing out; Protracted selling in the British Pound, broad strength in the Australian dollar and continued rally in gold. We had described the British pound as the likely "dollar of 2008" and so far it hasn't disappointed. GBP drops to new all time lows against the euro, 8-month lows against the dollar, and 10-year lows against the Australian dollar. The latest catalyst to sterling's gloom is a decline in consumer confidence a 13-month low, decline in job placements to a 54-month low, and 2.2% decline in like for like Christmas sales from major retailer Marks & Spencer.
http://www.marketoracle.co.uk/Article3328.html |
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