Why is the English Pound the strongest currency, twice the $USD ?

Question

It amazes me how strong the Pound is compared to $USD ! Why is this when oil & Gold are measured in $USD ? Also the Australian $AUD has gained substantial ground on the $USD, have they been weakened by the War ?

The Australian $ ($AUD) is perhaps the strongest we have been at $0.87USD, seven years ago we were at $0.58USD, has the $USD weakened that much ? How does it affect US lifestyles ?

Answer 1

Non-fixed currencies move based on many factors, including government interest rates, economic prospects, short term international monetary trading, and balance of trade. While the UK Pound and Euro are "stronger" than the USD, they aren't the most valuable currencies-Some of the Dinars in the Arab world are worth more dollars and if the PRC currency was allowed to truly float it would likely appreciate quickly compared to dollars.

Gold and oil and other commodoties are still demoninated in dollars due to America formerly on a gold standard and being a financial powerhouse. There has been some talk of switching to Euros.

Answer 2

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Answer 3

The British keeps their currency artificially high so they can make purchases of whatever goods they want to buy internationally. A second reason: The opposite of a weak Chinese yuan vs U.S. Dollar scenario, which causes jobs in the U.S.A, the people with British pounds don't want to work period.

On third thought, I'm not sure if these are the real reason behind currency and job markets. could be just a lame economist asnwers to what's wrong with currency 101

Answer 4

Uh, it used to be 10 times the $US. While it has been strong lately (because the U.S. dollar is weak - a byproduct of our having to carry the majority of the cost of fighting world wide terrorism, although Britain has been a big help too!), over the last century the pound has virtually collapsed against the dollar.

Best wishes.

Answer 5

The dollar was strong under President Clinton because the US had a balanced budget and it wasn't hopelessly in debt from borrowing in order to give tax breaks to billionaires who never needed it and to finance a needless war.

Answer 6

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Answer 7

U.S.=1.4
pound ,7=21,1=3.