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Pound hits 26-year US dollar high Pound hits 26-year US dollar high
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Old 10-30-2007, 07:29 PM
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Default Pound hits 26-year US dollar high
The UK pound has hit its highest level against the US dollar in 26 years. The pound has gained on the perception that US interest rates will be cut this week and UK interest rates will be left unchanged next week.
When UK rates are higher than US rates, investors are encouraged to exchange dollars for pounds to benefit from better rates of return.



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Old 10-30-2007, 07:31 PM
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Wow, thats some news I never thought would happen! Great find!
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Old 10-31-2007, 04:41 PM
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Ah yes, i think i read an artical similar to that.
Its really smart that they do so.
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