Posted by Allison on 14 June 2011, 14:24
There certainly never seems to be, does there? After all it’s definitely the case that the pound has been dragging its heels for a long time now. We can remember a time when it was performing strongly against all manner of different currencies; what we can’t remember is exactly when that was.
Of course it is the situation after the economic crisis that has been responsible for much of the lacklustre performance by the currency. But wouldn’t it be nice to know when we can expect the pound to pick up its steps a bit and move on to start achieving something better and more exciting?
The most depressing thing about the situation is that the Euro and the US dollar aren’t doing particularly well at the moment either. They’re ticking along but the Euro has been depressingly low for a while as well, and yet the pound can’t even make a dent in that already dented armour. So where will we go from here? Can we expect the pound to carry on bumping along the bottom for months on end, or will something happen to trigger off a better rate for a while?
We can remember when the pound was way below $1.50 against the US dollar. Back then it seemed like the currency was either dropping like a stone or bouncing back up again – at least to a certain extent. But now it is just sitting there, not doing much of anything. Week after week we hope to have some better news, but even when there is some better news we know it won’t last for long. It is always followed by a depressing news story the following week, telling us how the pound has dropped back once again.
It seems as if we should just get used to this state of affairs for a while. Once we are used to it we can accept it for what it is, even though this in itself is a disappointment. Who knows, perhaps one day we’ll be able to report good news two or three weeks in a row again.