Just to answer to why London Olympics is not a good news for the Pound...
1) In the past we have seen over time and time again westernized countries with slower growth attempting to host the olympic games and yet failed to make a profit on it... Greece anyone?? only thing is CHina only managed not to make any loss because their economy was still growing as. olympic in china being in august.... happened prior to the US market collapse... (this point is probably irrelevant but worth the mention)
2) The UK economy is suffering in terms of budget as it is, we can see on the news day to day how their financing on public healthcare is being cut short just because of a scheme to build new stadiums... Strikes are also happening too...
prices on a Tube travel 1 way rose from 1.40 GBP to 2GBP per journey, just to cope with the increase in taxes.... ahem ahem VAT?? 15% to 17.5% maybe 20% soon...
3) UK economy cannot benefit in a strong Pound why?? well lets say Pound's strongest sector is banking, you've got Switzerland doing a better job at that now since Banks in UK are suffering big time, so big that banks have to be bailed out... only if Banks are doing good and that Foreign people demands UK banking services would the UK benefit from a Strong Pound... otherwise a strong pound is going to dent their exporting capabilities with... hmmm Mostly Europe and Europe's already Suffering so why add oil to fire?? why make Pound stronger when Europe is suffering??
1) In the past we have seen over time and time again westernized countries with slower growth attempting to host the olympic games and yet failed to make a profit on it... Greece anyone?? only thing is CHina only managed not to make any loss because their economy was still growing as. olympic in china being in august.... happened prior to the US market collapse... (this point is probably irrelevant but worth the mention)
2) The UK economy is suffering in terms of budget as it is, we can see on the news day to day how their financing on public healthcare is being cut short just because of a scheme to build new stadiums... Strikes are also happening too...
prices on a Tube travel 1 way rose from 1.40 GBP to 2GBP per journey, just to cope with the increase in taxes.... ahem ahem VAT?? 15% to 17.5% maybe 20% soon...
3) UK economy cannot benefit in a strong Pound why?? well lets say Pound's strongest sector is banking, you've got Switzerland doing a better job at that now since Banks in UK are suffering big time, so big that banks have to be bailed out... only if Banks are doing good and that Foreign people demands UK banking services would the UK benefit from a Strong Pound... otherwise a strong pound is going to dent their exporting capabilities with... hmmm Mostly Europe and Europe's already Suffering so why add oil to fire?? why make Pound stronger when Europe is suffering??
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return:
0.7%
Sorry. Wasn't aware this was a dead horse here @ FF. Sooo I'll keep it short. And yes I'm aware of the effort by the Chinese government to keep the value of its currency devalued for reasons related to exports. 