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Federal Government Girls College Owerri • View topic - UK pound goes through $2 barrier

UK pound goes through $2 barrier

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UK pound goes through $2 barrier

Postby chizor » Tue Apr 17, 2007 1:55 pm

The pound has moved through the $2 mark for the first time since 1992, as investors bet interest rates would have to rise to slow inflation.
Consumer prices rose by 3.1% in March, the Office for National Statistics said. The ONS also said that its retail price inflation rate rose to 4.8%.

Many economists consider an interest rate rise in May to be a certainty.

By late afternoon on Tuesday, one pound was worth $2.005, having been solidly above the $2 mark since late morning.

The stronger pound has been good news for British visitors to the US, but has made life more difficult for exporters.

Moving up

The last time the $2-level was breached was just before sterling dropped out of the Exchange Rate Mechanism in September 1992


more info:http://news.bbc.co.uk/2/hi/business/6562743.stm
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Postby weruche » Tue Apr 17, 2007 2:58 pm

Not surprised. It was real close.

Well good for you, chizor and the rest of you from the Uk, holidaying here. At least, you won't be fazed by the prices of baffs, at the mall when you come.
hey :smt102, what can I say...
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Postby blackie » Tue Jan 13, 2009 8:38 am

GBP goes through the $2 barrier...and comes crashing down again like the proverbial humpty dumpty (at $1.45). Still, Weruch, I hope that means you guys are coming shopping this way then, right? :lol:
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Postby horizon » Tue Jan 13, 2009 9:56 am

heyy.wait a minute, i just checked the net and its £1 to $1.46......no dey spread rumor
e don happen
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Postby blackie » Tue Jan 13, 2009 10:38 am

horizon wrote:heyy.wait a minute, i just checked the net and its £1 to $1.46......no dey spread rumor


Oi! I don't need to tell you that the markets move by the second , do I? :lol:
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