The pound had fallen last week to about $1.60 but after Gordon Brown announced his bailout plan, it's risen to about $1.72. In fact Paypal have got it at $1.76, which is kind of annoying since I want to withdraw. (I get paid in dollars for my online work since my employer is based in the US.)
I've not been sure whether to wait a while and hope the dollar increases, or withdraw now in fear of the dollar collapsing completely. Nobody seems to know what's going to happen. Based on what Paulson said last week ("US warns of further bank failures") I'm going to withdraw now. I'm worried that more bad news from the states will cause the dollar to drop even more.
Monday 13 October 2008
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