Errr, I may be wrong about this, but does not the UK do more business with Europe than with the USA? Apart from dollar traded oil? But that is a big rip-off for us anyway...

Rod McLeod, Ostrava, Czech Republic

When everybody is bearish then there is onone way the price will go. Likewise when they are bullish.

Remember all that talk that oil was heading to $200 when it was at $140?

Lower rates will certainly hurt sterling in the short term but watch the bounce when the UK is first to recover a la '96

Alexis Pavlou, Bath, UK

I am a saver. But what andrea ceccanti from london said.

In addition, I feel that once we are through Q1 - 2 we will see recovery in the UK , ulike the US; it is the dollar thats in trouble.

Finally, it will be intersting to see how the Euro stands during the coarse of the next six months :

liam, bedford, UK

Cutting interest rates will do absolutely nothing to stem this tide of idiotic monetary policies.
The low interest model does not work and it is pointless to continue persisting with it.
Unless Britain wants to be equated with the Lira, devaluing to remain competitive, then drop the rates down.

Finn, Aberdeen,

All currencies will eventually fall against gold which is true money. Increase the supply of any item and the value will drop. The central bank printing presses are going full steam in the Western World just wait for the massive inflationary fall out. You can thank Brown and Greenspan.

Scott, Bangkok, Thailand

There is not a single reason for the Pound not to fall

Lec Neli, London, UK

This article is correct just from the headline. On the longer term timeframes, you're looking at a massive downswing.

John, London,

The avalanche of prophets of doom which I have seen in all the papers lately do little to encourage confidence in our banking system and currency.

Richard, Alicante, Spain

According to some boffins, this isn't just a bit of a slide; this is the beginning of a run on sterling. To be sure, the dollar, euro, or yen look like safer havens than the pound - which has been in decline since the war.

Nullius, London, UK

V. cooper, savings may be encouraged by a tax cut rather than an increase of the base rate. If banks want to push savings thay are free to increase their interest rate independently from the base rate.
The vast majority of world population has more debts that savings and only a rate cut can help.

andrea ceccanti, london,

there you go

alex, woking, uk

Discourage savers and encourage borrowers - No change

V. Cooper, Somerset, UK