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Banking/Financial Crisis [Will LCY-JFK service happen?]

Banking/Financial Crisis [Will LCY-JFK service happen?]

Old Oct 31, 08, 7:27 am
  #31  
 
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Originally Posted by Globaliser View Post
This effect of a weaker pound is one of the reasons why I believe that the combined Brown/Darling/King "recession is nigh" roadshow that has done such a good job of collapsing the pound may well have been coordinated and deliberate.

There are some service industries on which this will have a similar effect. I have in mind, for example, legal services provided by London to commercial clients all over the world regardless of where the commerce is actually taking place.
Interesting, I'd never thought of it in quite that way before.

So you suggest that the Brown/Darling/King doom-and-gloom predictions were actually part of a concerted effort to deliberately drive down the value of the pound in order to boost Britain's export market?

Interesting indeed. Many have suggested that this was the strategy of the Bush administration from 2003-2007.

But how do you explain the fall in the euro and other currencies alongside the pound?
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Old Oct 31, 08, 7:55 am
  #32  
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Originally Posted by ajax View Post
But how do you explain the fall in the euro and other currencies alongside the pound?
There has been a flight to the dollar, sure. But the pound did significantly worse than the Euro, though I see it's since stabilised.
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Old Oct 31, 08, 8:08 am
  #33  
 
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Originally Posted by Globaliser View Post
There has been a flight to the dollar, sure. But the pound did significantly worse than the Euro, though I see it's since stabilised.
Well, not really. Aside from a flirtation just over 0.81 to the at the beginning of September, the / rate has hovered around 0.78-0.80 since April.

It could be that the euro is just getting dragged down with the pound, something which wouldn't be terribly surprising.
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