Pound continues to slide against the Euro.

Rather sadly I have been comentating and indeed watching the pound against the dollar, which, whilst it has during the last week hit another 52 week low, is trading between $1.44 to $1.50 to the pound. On the other hand the trend against the Euro is relentlessly down, reaching new depths on a regular basis. In fact it has hit as low as 1.14 Euros to the pound.

The reasons for this are simple. Gordon Brown wants to borrow hideous amounts of money to buy his way out of a recession and it appears that if that does not work he will try printing his way out. Similar ideas seem to abound in the US whereas Germany contrary to Labour and Gordon Brown's spin think this policy is nothing other than nuts.

You can see the rate against the Euro here (current £1 buys €1.15 Euros as opposed to a year ago when it brought €1.40). On the other hand it buys $1.48 dollars against a 52 week high of $2.05. Current price is here.