Today it’s showing 71php for a £. I wish it was that much last month when I was in Philippines. So what have changed so far that the uk pound is doing good in the market? What I can see is that UK unemployment has gone done and average wages are going up. Our Current Inflation is now at 0.1% last month it was -0.1% So George Osborne said yesterday that his plan is working. Is it?
America got poorer, it's basically all triangulated through the dollar, so pounds buy more dollars. But in recent years there has been a pattern where the rate goes to pot at Christmas because vast amounts of foreign currency are flooding into the Phils at that time and then gradually gets better for us over the next few months. Like you I wish it had been better in April, it is up 6% since then which is a significant change, 71 php vs 67 php in mid April.
Was just reading this : http://www.thisismoney.co.uk/money/...h-retail-sales-beat-economists-forecasts.html
Yeah but if all the news in the US was really good too then the pound would be lower against the dollar, it's all about sentiment and speculation these days. And about interest rates, if the UK increased the base rate first, then money would pour back into the pound increasing its value, but it will probably be the US that raises rates first which will have the opposite effect.
I agree but we all know BOE will not increase the rate this year or the next. As that Canadian guy is working for the government
