It keeps rising
Not the water, which now seems to be affecting Oxford, but the pound. A few weeks ago I noted that on current trends UK GDP per head measured in any currency in the world would be higher than that of the US, perhaps for the first time since 1880.The dollar then was trading at 2.03 and a bit to sterling, and today it is around 2.06. So there's no question now that UK GDP per head is higher than the level in the US. In fact, and I'll have to look this up, I think it must be in the top 5 or even 3 in the world.
Alistair Darling is truly a remarkable man.
I also think it can't go on much more. I have a US dollar bank account, which apparently does commission free transfers from sterling to dollars (the sting is if you then try to get it out in sterling I think, but haven't looked too closely) and I've decided to try my hand at currency speculation by depositing some money each week. We shall see - I tried this with all of £50 back in 2002, when it was 1.9 to a pound, and now have about £45 in there.
posted by Matthew @ 7/25/2007 07:24:00 AM
Comments: 4
