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[icon] Dollar - Patti
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Subject:Dollar
Time:10:44 pm
I was just poking around online, looking for hotels in London for thanksgiving this year. Everything seemed cheaper than I thought it should be. And then I checked the exchange rate and got a pleasant surprise. Rather than two bucks to a quid, it's now like a buck seventy-five. I haven't heard much about the dollar getting stronger, though admittedly I haven't been paying attention... what happened?

No wonder gas prices have dropped.
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mangosteen
Link:(Link)
Time:2008-09-09 05:58 am (UTC)
No wonder gas prices have dropped.

It was kind of the other way around.

So, the oil bubble burst due to at least one speculator going under (SemGroup, $2.7bn in bad bets), genuine structural changes in oil consumption in the US, and an early end to the summer driving season.

Combine that with Gustav doing a lot less damage than originally suspected, and an oil price that didn't recover even when all of the oil rigs local to the Gulf of Mexico shut down, and suddenly, all the people who bought oil futures contracts (denominated in USD) as a hedge against inflation, now want to sell. This both drops the price of oil, and raises the demand for dollars.

Combine that with a UK economy that is just as screwed as the US (if not more so), and you get cheaper London hotel rates. :)
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jellymillion
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Time:2008-09-09 01:49 pm (UTC)
The dollar's still sick, the pound's just climbed into the bed next to it.
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onthegojo
Subject:London Hotels
Link:(Link)
Time:2008-09-09 06:53 pm (UTC)
SFGate had an article about "cheap" hotels in London for under 100 pounds (too lazy to find the right character)...

http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2008/09/07/TR0011FU62.DTL

Simon has stayed at the Hoxton Hotel and found it quite nice. He was a bit bummed when it was mentioned in the article. His secret is out! We used to stay at MyHotel, but their rates have gone up...
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whipartist
Subject:Re: London Hotels
Link:(Link)
Time:2008-09-09 07:35 pm (UTC)
Thanks!

I'm actually very picky about hotels in London. The primary requirement is that it be no more than a five-minute walk from Leicester Square. The first thing I do every morning is fall out of bed and walk over to get my theater tickets for the day.

My favorite place was Manzi's. It was right on Leicester Square, cheap, funky, and they knew me by name. Whenever I sent email for reservations, Samantha would respond that she was looking forward to seeing me again. Sadly, they closed a couple of years ago.
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[icon] Dollar - Patti
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