From: George Sherwood 

On Wed, 18 Apr 2007 19:26:50 +0100, Adam wrote:

> http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=c1572b4d-
fc43-409f-aa02-461c2f6f962e
>
> "The dollar extended its slide against other major currencies on
> Wednesday, hitting a 26-year low against the British pound and
> approaching an all-time low against the euro, after recent U.S.
> inflation numbers damped expectations that the Federal Reserve would
> increase interest rates.
>
> The pound climbed as high as $2.0133, its highest level since 1981,
> after the minutes of the latest Bank of England meeting showed its
> Monetary Policy Committee voted 7 to 2 in favor of holding interest
> rates at 5.25% in April. The two dissenters favored hiking rates.
>
> "'They don't like the U.S. dollar anywhere and it is unanimously so,"
> said Dennis Gartman of the Gartman Letter. "Simply put, the market is
> now convinced that the future of the U.S. economy is one of relative
> weakness, while that of Europe is one of strength."
>
> In New York trading, the euro stood at $1.3579, compared with $1.3565
> late Tuesday. It reached a high of $1.3614 earlier in the session, the
> loftiest level since January 2005. The dollar is within striking
> distance of its all-time low against the euro, $1.3666, reached in
> December 2004.
>
> The British pound traded at $2.0054 vs. $2.0051, after earlier touching
> $2.0133, the highest level since 1981.
>
> The dollar changed hands at 1.2051 Swiss francs, compared with 1.2088
> francs.
>
> The dollar was last quoted at 118.24 yen, compared with 118.95 yen. The
> euro fetched 160.55 yen, compared with 161.35 yen. "

But you think this is a good thing?

http://www.bloomberg.com/apps/news?pid=20601102&sid=anSEHWa.K2FU&refer=uk

Britain's goods trade deficit widened more than expected in February as the
value of exports shrank to the lowest in a year and a half.

The gap was 6.8 billion pounds ($13.4 billion), up from a revised 6.4
billion pounds in January, the Office for National Statistics said today in
London. Economists expected 6.4 billion pounds, the median of 18 estimates
in a Bloomberg News survey showed. Exports fell 0.5 percent and imports
rose 1.2 percent.

George

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