What wrong with UK pond?

[Handsome]

Hi guys around 1 month ago UK Pond rate In Pakistan was 140

its mean 1 pond = 140 Pakistani Rs
But day by day it is decreasing now it is:
1 Pond = 110 Rs of pakistan

let me know any forcosting about it so i can investin UK currency


Thanks in advance

 

[Enivid]

Hi guys around 1 month ago UK Pond rate In Pakistan was 140

its mean 1 pond = 140 Pakistani Rs
But day by day it is decreasing now it is:
1 Pond = 110 Rs of pakistan

let me know any forcosting about it so i can investin UK currency


Thanks in advance

I don't know anything about the Pakistani rupee, but the U.K. pound is experiencing very harsh times. It's not a good time to invest in it right now.

 

[Pinalli]

Hi there,

My friend the British pound was one of the worst performing currencies in 2008. It fell to a 6 year low against the US dollar and record low against the Euro in addition to selling off against every other G10 currency. The overwhelming weakness in the currency is a direct reflection of the impact that the credit crisis had on the UK economy. In the month of December, many currencies recovered against the US dollar, but unfortunately the British pound was not one of them. Although the pound could continue to weaken in the first quarter, the government’s aggressive fiscal and monetary stimulus should help the country recover towards the end of 2009.

GBP a month ago when it was at Rs.117 against the Pak rupee but now it is declined to Rs.108.

Regards

 

[FXexpert]

The UK is in a serious recession, possibly more serious than that of the United States. The pound will continue to decline as a result unless the economic situation of the country can be turned around.

 

[orange2009]

yea poor recession

 

[FXexpert]

The recession contributed to the pounds decline but there are many more factors.

 

[Pinalli]

Anyway, the pending G20 conference, just 2 days away, is turning out to be a pivotal moment in the lefe of this economic crisis. Growing dissent over the British and American calls for increased spending along with an enormous rally in London is already making things interesting. Lets take for instance the German Chancellor, Angela Merkel, who is on the record over the weekend as saying that a global new deal is not possible if those behind it do not have their own house in order. This is a nice way of saying “fix your own problems before you dictate to me how to fix mine.”

 

[FXexpert]

I still have a lot of hope for the pound in the long run.

 

[Pinalli]

I still have a lot of hope for the pound in the long run.

And right now i am focusing on USD and Yen... most promising currencies today.

 

[andy003]

The Pound (GBP/USD) fell down 60 pips in the Sunday open, as the currency market was again obsessed by risk-aversion. Furthermore, the pair already broke under Friday’s low, but now is leading towards an older 4h support area. The GBP’s calendar is full with top-row release this week.

 

[olatomiwa.forex]

Prior to February 15th 1971 the British currency system was known as pounds, shillings and pence. In the system used at that time 12 pennies was equal to one shilling and 20 shillings was equal to one pound.

 

[JEAN]

UK's trade balance

UK's trade balance better than expected:
Current: -6.589 million Pounds
Previous: -7.315 million Pounds
Previous revised: -6.834 million Pounds.
Consensus: -7.200 million Pounds.

 

[Pinalli]

Hi all,

Today GBP/USD's rised to as high as 1.5352 in early US session, just inch below mentioned 1.5371 target. At this point, there is no clear sign of topping yet but upside momentum does diminish. Break below 1.5063 will flip intraday bias back to the downside for outer channel support at 1.4619. Note that further break of 1.4395 will indicate that whole rise from 1.3654 has completed. On the upside, however, sustained break of 1.5371 will indicate that stronger rise is underway towards 1.5722 resistance next.

 

[JEAN]

Sterling's perspectives

I am waiting for the BoE's quarterly inflation report. Depending on the results, we could watch some profit taking in the GbpUsd. Despite that, if the pair breaks the 1.5377 resistance, it could stay in the 1.5500 and 1.5800 range

 

[Enivid]

I am waiting for the BoE's quarterly inflation report. Depending on the results, we could watch some profit taking in the GbpUsd. Despite that, if the pair breaks the 1.5377 resistance, it could stay in the 1.5500 and 1.5800 range

Huh? BoE's quarterly inflation report was released almost 12 hours ago. And you are still waiting for it?

 

[JEAN]

No, I already have it
I had problems with my internet connection yesterday when posting

 

[Pinalli]

lol....

Anyways what was there in BOE report? Does anyone analysed it? I got the update that the Bank of England announced that they expect a slower recovery than originally predicted. The BOE revealed that inflation remains below the target level and that suggests that the loose monetary policy of the BOE will remain in effect for now. The figures showed a 4.5% decrease in economic activity for the second quarter and predict an early 2010 recovery. UK interest rates remain at a record low .5% and the British government recently expanded their asset purchasing program to 125 Billion Pounds, however Mervyn King, the BOE Governor said that the recovery will be slow and uncertain, highlighting this by declaring "We may get a recovery that will prove to be sustained and then again we might not."