British pound vs USD - wow

[DaveC]

• 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.

 

[Kevin L]

Indeed it is hard to believe, will be interesting to see how this transpires and what happens in the rest of the world

 

[Trevor]

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.

 

[Ian Anderson]

To compare I went on holiday to Florida May 2008 and on one credit card transaction got $1.99 for a £

 

[Rick]

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.