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Foreign Exchange

Outlooks

I received too many outlooks and predictions for 2008 to be able to mention them all here, but I’d like to thank everyone who has sent them in. Glancing through them, there’s a general theme of continuing dollar weakness, at least for the first half, and a belief that sterling is going to underperform. Among the more interesting predictions are...

... Standard Chartered’s view that the Chinese yuan is going to appreciate by 9% steadily against the dollar over the year. As for sterling, my old mate HSBC-mucker Paul Day, who is now at the small Swiss-based MIG Investments, reckons that it could plunge towards parity against the euro. This looks a little extreme – it quotes to a level of 1.9600 in old GBP/DEM, but Paul’s calls (or should that be puts) have been quite good over the past couple of months. Hopefully if the move does take place, it will happen after I’ve got my house in France redecorated. 

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