Why's the pound on a run?

[Puggit]

Up 3 cents on the dollar today and steadily climbing over the past month.

Modest gains over the Euro for the past week too.

Any ideas why?

[cs02rm0]

It needs to have somewhere to crash from again when this government are kicked out and the money belt get tightened.

[HRG]

Noel's not gonna be happy

[Merc fan]

Thought I saw somewhere today a headline which said that the IMF had said that the worst is behind us? That might be why.

[PhillipM]

It's been steadily climbing for about 2-3months...

[pies]

Because a few months back it was undervalued

[loafer123]

Because we're stuffed, but they're more stuffed than we are.

HTH

[V8A*ndy]

pies said:

Because a few months back it was undervalued

Purposely undervalued, by a gov that publicly denounces protectionism.

[unrepentant]

It's moved against the dollar because the feeling is that the worst of the global recession may be behind us and people previously dived into the dollar as a safe haven. The latest feeling is that it may continue upwards to the 1.60 - 1.70 mark in the short term. The euro is expected to continue to fall against both pound and dollar.

• This is just my opinion and what I have read. I am not a currency trader but I am moving to the USA this winter so I take a very keen interest in the exchange rate as every extra cent is worth quite a lot to me. I'm interested to know what any experts think as I'm wondering whether I should bite the bullet and buy a quantity of dollars now.

[Asterix]

I'm pissed off as I'm about to drop a deposit on a house and I get paid in US$

[NoelWatson]

HRG said:

Noel's not gonna be happy

Are you sure?

[Fittster]

Pound sterling’s 200-day moving average is 1.5554; the current level of pound sterling is 1.5480… Within spittin’ distance!

[NoelWatson]

Puggit said:

Any ideas why?

because people weren't expecting the S&P news

[Puggit]

And yet again, after a long series of gentle gains:



Now what?!

[NoelWatson]

Puggit said:

And yet again, after a long series of gentle gains:



Now what?!

See above

[Puggit]

NoelWatson said:

Puggit said:

Any ideas why?

because people weren't expecting the S&P news

Translation?

[hornetrider]

If the pound is climbing against the dollar, how come I'm paying a quid a litre at the pumps?

[unrepentant]

NoelWatson said:

Puggit said:

And yet again, after a long series of gentle gains:



Now what?!

See above

Everythings down this am. Profit taking after a bull run?

[unrepentant]

hornetrider said:

If the pound is climbing against the dollar, how come I'm paying a quid a litre at the pumps?

It's very noticeable living in the US that the price of gas at the pump fluctuates much more than in the UK. I guess the difference is that in the UK such a huge chunk is Tax and not subject to fluctuation. So whilst the pump price in the US rises and falls with the market in the UK the majority of the price is actually tax so movements in the market (or the value of the £) have less impact.

[NoelWatson]

Puggit said:

NoelWatson said:

Puggit said:

Any ideas why?

because people weren't expecting the S&P news

Translation?

http://www.reuters.com/article/marketsNews/idUSLL18030120090521