lamboguy
03-13-2008, 02:34 AM
The year 1922 was a strange year indeed.
The boom in the economy was again highly
influenced by favorable overseas investors.
The British pound had rallied from its drastic
decline of 1920. During 1921, the pound
had rallied during the first quarter, reaching
$3.95 in April but falling sharply back to
$3.56 in July, bottoming one month prior to
the turn in the Dow Jones Industrials. By
year end, the pound had staged a comeback,
closing December 1921 at $4.21. The
pound continued higher in 1922 but at a
slightly less aggressive pace, peaking during
May at $4.45 and consolidating into September
down to $4.38. But by year end, the
pound resumed its uptrend, closing December
1922 at $4.63.
The boom in the economy was again highly
influenced by favorable overseas investors.
The British pound had rallied from its drastic
decline of 1920. During 1921, the pound
had rallied during the first quarter, reaching
$3.95 in April but falling sharply back to
$3.56 in July, bottoming one month prior to
the turn in the Dow Jones Industrials. By
year end, the pound had staged a comeback,
closing December 1921 at $4.21. The
pound continued higher in 1922 but at a
slightly less aggressive pace, peaking during
May at $4.45 and consolidating into September
down to $4.38. But by year end, the
pound resumed its uptrend, closing December
1922 at $4.63.