Wednesday, January 21, 2009

False hopes

So much for the cut in the interest rate by the ECB making a difference to the exchange rate. The prospect of a cut seemed to have more effect than the cut itself.

I watched the rate creep up to 1.13 euros to the pound with eager anticipation only to see it slide back down to 1.06.

When the experts talk of a long term recovery just how long are they talking about? Will I live long enough to join in the celebrations?

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