Tuesday, December 02, 2008

Dollar update

OK, I was a little premature in my sterling rally forecast of a week ago.
It looks like the Bank of England is going to cut rates by 0.50% to 1.00%, maybe even another 1.50% are there are risks of a short term rout of sterling.
One commentator is forecasting $1.27.

No-one really knows for sure but the Bank of England seems to be happy to let sterling depreciate. My advice now is - let it ride!

1 comment:

Littleacornman said...

Thanks for your latest thoughts.Gonna let it ride for now...