Pound jumps vs broadly weaker dollar

IHT ^ | 3/23/09

[FromLori]

LONDON: Sterling climbed against the dollar on Monday, hitting a one-month high, as investors' risk appetite was boosted by hopes over a U.S. plan to help banks offload their soured loans, prompting broad dollar-selling.

European share prices rose more than 1 percent in early trade with financials the major gainers on the back of the U.S. Treasury's plan, following gains in Asian equity markets.

[FromLori]

Related

Yen, Dollar Weaken as Investors Seek Higher-Yielding Assets

http://www.bloomberg.com/apps/news?pid=20601087&sid=as5xWej84F_M&refer=home

[Fred]

So are you long or short on the dollar..euro??? I am trying to figure out if you are a pumper or a dumper...

[FromLori]

Neither my plan is the mattress and supplies lol

[autumnraine]

This confuses me. So the markets are confident in Geithner’s plan?

[FromLori]

It looks to me like they see the dollar being devalued because of Geithner’s plan.

[Zeddicus]

This confuses me. So the markets are confident in Geithner’s plan?

Of course they are. They are confident that Geithner's plan will take hundreds of billions of taxpayer dollars and use it to offload the product of poor business decisions, right onto the backs of said taxpayers. What's not to like?

[autumnraine]

That’s what I thought, but your link about the Yen said they were optimistic about his plan.

So if they are optimistic and all happy that the government is taking a dump of toxic assets, where do they think the government will get the money? Printing it will devalue it more.

I just think we are screwed either way.

[FromLori]

Yes I think your right.

[paulycy]

[FromLori]

Worth a thousand words and then some!

[bert]

.......to offload the product of poor business decisions......

I would revise that statement

.....to offload the product of government mandated business decisions.....

You should keep in mind that business is not business when forced to comply with laws handed down by the Democrat Criminal Enterprise