British pound vs USD - wow

  • Sterling fell as much as 4.8% to trade below $1.04 in the early hours of Monday morning, extending losses from late last week.
  • The U.K. currency has since pared some of its losses, trading 1.5% lower at $1.0695, as analysts predict the Bank of England may need to raise interest rates more aggressively.

Hard to believe they are so close. Especially with the devaluation of the USD.
Indeed it is hard to believe, will be interesting to see how this transpires and what happens in the rest of the world
I was working in the US in 1985-87 when the Pound last reached near parity with the Greenback. As I was working for a UK firm at the time on a fixed UK Pound contract it was a painful experience. The exchange rate gyrations between the Pound and the USD at that time were really wild, along with wildly varying interest/inflation rates. The government's just announced 'non-budget' is just the latest in a string of bad economic decisions that have led the international markets to bail on Sterling.


Couldn't have happened at a better time for myself. I started the process of buying a specialty demolition excavator in early July from the UK. Since then I am at a 15% savings on a significant amount of money. I see a lot of inventory over there getting tagged as sold recently.