at a rate of 3.65. This means that when the dollar weakens vesrus the pound you lose out. Also, UK interest rates have just risen. This makes the pound more attractive to foreign investors as they get a higher interest rate, this in turn makes the pound stronger.
Will it improve? This is anybody's guess. On economic terms, the dollar should be close to worthless as the US is the world's largest debtor nation and has huge current account and balance of trade deficits. The pound is probably higher than it should be (as UK is also a lrage debtor nation) but as long as the dollar remains weak and the interest rates are relatively high in the UK, you will lose out.
In 2010, the GCC is planning to move to a single currency linked to the Euro but there are doubts that this will happen on time, if at all.
at a rate of 3.65. This means that when the dollar weakens vesrus the pound you lose out. Also, UK interest rates have just risen. This makes the pound more attractive to foreign investors as they get a higher interest rate, this in turn makes the pound stronger.
Will it improve? This is anybody's guess. On economic terms, the dollar should be close to worthless as the US is the world's largest debtor nation and has huge current account and balance of trade deficits. The pound is probably higher than it should be (as UK is also a lrage debtor nation) but as long as the dollar remains weak and the interest rates are relatively high in the UK, you will lose out.
In 2010, the GCC is planning to move to a single currency linked to the Euro but there are doubts that this will happen on time, if at all.