I'm supposed to be off to the US next year and nearly bought dollars when the rate was was 1.99 to 1. I've been watching sterling plummet to a 5 year low and I'm really beginning to regret the whole idea of even going now. Why is this country so honest and upfront with the rest of the world. The Bank of England's speech by King really shafted sterling today, not to mention the fooking media coverage. Meanwhile the Americans are keeping very quiet about the state of their economy and the only thing in the news is McCain vs fooking Obama. No wonder we have no industry left:-

 

http://uk.reuters.com/article/ukPoundRpt/idUKLM16366720081022

I think they've done it to stimulate exports...Holiday makers are shafted but exports become favorable for industry and boost GDP....Seeing as we're in the 5hit and financial markets are taking a battering, exports is the only thing left to bring in money and attempt to keep employment stable...

Yeah and I still have a shit load of stuff I need to buy for my rebuild to - damn recession :rofl:

And today's rate?

 

1 Pound = 1.496 Dollars from Travelex

 

FFS

Why is this country so honest and upfront with the rest of the world.

 

Maybe if the country had been more honest with itself and not been living the 'credit lie' for so long it wouldn't be in such shite now.

Dont we import more than we export though ?

 

sux :(

What this country has done financially has little to do with the current state of affairs, this is a global recession and the exchange/interest rate has been lowered to try and boost exports and lower the cost of lending to boost business/consumer spending!