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Message: Pound May Slump to $1.05 on Budget Cuts, UBS Says

Pound May Slump to $1.05 on Budget Cuts, UBS Says

posted on Feb 24, 2010 11:15AM

Feb. 24 (Bloomberg) -- The British pound may fall below parity with the euro and drop to $1.05, the lowest level against the dollar since the mid-1980s, if the government tackles the country’s debt burden too early, UBS AG said.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aTO9L4xt4bf8&pos=3

Next crisis are looming! Pound is on the table. I think after that Yen and then again Dollar and story goes on and all Fiat currencies are sinking to abyss. Just look for next days Gold/Pound chart, it will be very good for Gold!

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