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Update: the UK pound sterling is plunging towards parity with the US dollar


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12 minutes ago, Fizzzzle said:

Is this not pretty normal? I was in Europe 2 years ago and 1 USD= ~.95 euros at the time. A small enough difference that it didn't matter.

 

Historically the range has been more like $1.10-$1.25 to a euro.

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1 hour ago, Joe said:

Going to Portugal and Spain for a month in August so this is pretty cool. They’re getting wrecked harder than us right now.


Oh yeah, our passports just came in the mail. May still hit up your brother’s wedding 😂

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Probably a reflection of the fact that right now both the US  and the Euro area are recording higher than usual current account deficits at the same time, and both currencies are rebounding in tandem from a low in June.  If the balance of trade for one improves or deteriorates relative to the other due to factors like, say, the Ukraine craziness, we'll probably see a divergence again.

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10 hours ago, Keyser_Soze said:

So time to import lots of stuff?

No, that would make the trade deficit worse, and a trade deficit makes us 'losers', per His Majesty Trump.  Do you want to be a loser?

 

We need to debase the dollar to juice exports, put huge tariffs on all imports, and reduce all spending abroad to zero.  Maybe lose reserve currency status while we're at it.  Then we'd have a trade surplus, and we'd be 'winning'.:troll:

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  • Jason changed the title to Update: the US dollar and the euro are now at parity
  • 2 months later...
  • Commissar SFLUFAN changed the title to Update: the UK pound sterling is plunging towards parity with the US dollar

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