Dollar Drops to 26-Year Low Vs. Pound

uscitizen

uscitizen

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Dollar Drops to 26-Year Low Vs. Pound
Monday July 2, 6:53 pm ET
By Jackie Farwell, AP Business Writer
Dollar Falls to 26-Year Low Against British Pound Ahead of Central Bank Meeting

NEW YORK (AP) -- The dollar fell to a 26-year low against the British pound Monday ahead of an expected rate hike by the Bank of England later this week.

The pound rose to $2.0173 -- its highest level versus the dollar since June 1981 -- in New York trading before retreating to $2.0165. The dollar also dropped to within a cent of its all-time low versus the euro, as rising global interest rates made the currency less attractive to investors.

http://biz.yahoo.com/ap/070702/dollar.html?.v=12

Of course I am sure spinner will tell us how this is a good thing :)
 
Of course it is. The last time it was this high, Reagan was about to change the world.

Well, we don't have a Reagan now, but a cardboard cutout of him would surely beat the shit out of what we do have. So, consider yourself owned.
 
Yes we will enjoy paying more for oil.

Makes you wonder why the opec nations are swithching more and more to the euro instead of the dollar doesn't it.
 
uscitizen said:
Dollar Drops to 26-Year Low Vs. Pound
Monday July 2, 6:53 pm ET
By Jackie Farwell, AP Business Writer
Dollar Falls to 26-Year Low Against British Pound Ahead of Central Bank Meeting

NEW YORK (AP) -- The dollar fell to a 26-year low against the British pound Monday ahead of an expected rate hike by the Bank of England later this week.

The pound rose to $2.0173 -- its highest level versus the dollar since June 1981 -- in New York trading before retreating to $2.0165. The dollar also dropped to within a cent of its all-time low versus the euro, as rising global interest rates made the currency less attractive to investors.

http://biz.yahoo.com/ap/070702/dollar.html?.v=12

Of course I am sure spinner will tell us how this is a good thing :)
Click to expand...

Who cares? They've inflated less than us. It obviously hasn't done much effect. And haven't leftists always argued that inflation is good for the poor?
 
uscitizen said:
Yes we will enjoy paying more for oil.

Makes you wonder why the opec nations are swithching more and more to the euro instead of the dollar doesn't it.
Click to expand...

You do know how currency exchange works, don't you? This doesn't mean that Americans pay twice as much in actual worth for products as the British do.
 
What it does mean is that thousands of Brits are hopping on planes to buy suitcases full of iPods, games consoles and assorted tat at rock bottom prices.

Meanwhile, on the British street, locals are spared the apprehension of coach upon coach of, luminescent orange tinged, escapees from Florida's maximum security retirement homes, while simultaneously complaining our tourist industry has gone down the shitter.
 
It's not great obvviously, but I know my role and it's to teach you money averse fools how to make some.

As our currency goes down the rest of the world can more easily afford consumer products.
I'm buying international funds, have one that is Europe/Asia. Buying the Chineese market lite blue chips, and large American Blue chips that do plenty international business.
Ohh, and of course oil. Up over 70, booo yahhh it should be over $100 if we weren't raping the middle east.:clink:
 
the experts I have read all say the price of oil is getting a boost from Iraq. Not cheaper oil.
Yep buying Iphones with british and german chips in em :)
 
Topspin said:
"price of oil getting a boost from Iran, not cheap oil"
lets all say altzheimers
Click to expand...

talk about altzheimers, I typed Iraq not Iran spinner. You been sniffin the methelyne chloride again or something ?

Btw I just read that chavez is selling gas to Iran, and with US oul companies in bed with Chavez, where does that leave them ?
 
read a report where Exxon and Connoco may sue Chavez and take over his us Refineries for stealing their Venz assets. Now that would be sweet.
 
But what about their involvment in gas sold to Iran ?

but wouldn't that just be another form of nationalization that we are so pissed off about hugo doing ?

Nice diversion attempt there spinner.
 
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