| UK Pound 16:21 - May 28 with 3199 views | Brightonhoop |
Not a political thread, nor an argument thread.
Pound is slowly but surely falling through the floor 1.14 on live rates, 1.19 2 weeks ago. Anyone know the current reasons, election aside, for the current slide and where the bottom is likely to be?
Nearly a year on from the EU out vote it's beginning to bite for those of us earning in Sterling and living in the EU euro zone.
Rates were around 1.10 when I first came over 4 years ago, peaked last summer at close to 1.40 and a return to those very tough times 4 years back is looking increasingly likely. What's the current panic on the pound folks? |  | | |  |
| UK Pound on 16:28 - May 28 with 3183 views | Watford_Ranger |
Assuming the Tories win it should bounce back. If it's been in decline in the last two weeks I don't think that's a coincidence given May's poor recent form and the reduction in the Tory lead in the polls.
Obviously other factors too but that's the main one given such a short time period, I think. |  | | |
| UK Pound on 16:31 - May 28 with 3179 views | essextaxiboy |
This is just cut and paste from a stockbrokers website market news . Not political at all
Seems the markets dont like the prospect of Mr Corbyn .
(ShareCast News) - Stocks in London got an unexpected shove higher on Friday as a new election poll revealed a narrowing Tory lead over Labour, causing sterling to sour and helping the FTSE advance.
The latest polls from YouGov showed that Theresa May's Tories had only a five-point lead over Jeremy Corbyn's Labour.
"The precipitate fall in the pound is undoubtedly helping, with the currency taking a rather dramatic tumble below $1.28 as the script for the general election is torn up," said IG's Chris Beauchamp. |  | | |
| UK Pound on 16:44 - May 28 with 3138 views | Brightonhoop |
Cheers fellas, I suspected it was uncertainty during the election period. I hope it bounces back whoever wins. And sooner the better... | | | |
| UK Pound on 18:05 - May 28 with 3034 views | danehoop |
Except the initial steep devaluation came straight after the Brexit vote and has gently tracked downward ever since. The short term political uncertainty over the election has put a short term ripple, not so much because of fear of Corbin, more the manifesto promises of both sides which look increasingly desperate and Ill considered/costed. |  |
| Never knowingly understood |
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| UK Pound on 18:21 - May 28 with 2993 views | FredManRave |
Presumably the fall in the value of the pound affects the value of QPR cash as well?! |  |
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| UK Pound on 18:41 - May 28 with 2950 views | Brightonhoop |
| UK Pound on 18:21 - May 28 by FredManRave |
Presumably the fall in the value of the pound affects the value of QPR cash as well?! |
Only if you can find it, and then align to your online shopping basket.....  | | | |
| UK Pound on 18:47 - May 28 with 2936 views | eastside_r |
| UK Pound on 18:41 - May 28 by Brightonhoop |
Only if you can find it, and then align to your online shopping basket..... |
Oi!
 |  | | |
| UK Pound on 19:28 - May 28 with 2880 views | Brightonhoop |
haha couldn't resist it. | | | |
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| UK Pound on 19:47 - May 28 with 2855 views | CroydonCaptJack |
It went down after Brexit partly as European governments sold it down to try and make a point. |  | | |
| UK Pound on 20:35 - May 28 with 2765 views | Brightonhoop |
| UK Pound on 19:47 - May 28 by CroydonCaptJack |
It went down after Brexit partly as European governments sold it down to try and make a point. |
Maybe. it mostly went down because Interntional markets thought the UK was beeping crazy to leave the EU. And has not recovered since. And is back on the slide. Not good.  | | | |
| UK Pound on 20:41 - May 28 with 2752 views | CroydonCaptJack |
| UK Pound on 20:35 - May 28 by Brightonhoop |
Maybe. it mostly went down because Interntional markets thought the UK was beeping crazy to leave the EU. And has not recovered since. And is back on the slide. Not good. |
Well let's see where it goes long term. | | | |
| UK Pound on 20:47 - May 28 with 2739 views | Brightonhoop |
| UK Pound on 20:41 - May 28 by CroydonCaptJack |
Well let's see where it goes long term. |
Year on already grrr and now at risk of starting arguing on a non-argument thread. So aye, lets see.  | | | |
| UK Pound on 22:28 - May 28 with 2660 views | GaryT |
The 1 year tab shows that since July 4th, it's been a bit up and down but averages out at around 1.15 to 1.16 so where it was a couple of days ago. I have a feeling the rate will rise after the GE whatever the outcome but I won't bore you with my random thought processes. Looking on the bright side, it's still better than Dec 08 (1.02 - 1.05)
https://uk.finance.yahoo.com/quote/GBPEUR=X?p=GBPEUR=X |  | | |
| UK Pound on 22:34 - May 28 with 2639 views | colinallcars |
"This will not, of course, affect the pound in your pocket" Harold Wilson 1967 |  | | |
| UK Pound on 23:04 - May 28 with 2600 views | LythamR |
The increased uncertainty in terms of election result will be part of it but I think its also related to the increasing awareness that we in for tough braxit negotiations and the likely terms are looking less favourable now than they where a month ago, I imagine the French election result will also have stiffened the Euro |  | | |
| UK Pound on 05:22 - May 29 with 2494 views | jonno |
The closer the prospect of a Labour government the more the pound drops; that has always been the case and is no different now. |  | | |
| UK Pound on 06:51 - May 30 with 2213 views | essextaxiboy |
| UK Pound on 05:22 - May 29 by jonno |
The closer the prospect of a Labour government the more the pound drops; that has always been the case and is no different now. |
Poll averages over the weekend give Tories av 10 point lead ( 81seat maj) and the pound starts to recover .... If you think Corbyn is going to make it , take it now if you can ... | | | |
| UK Pound on 08:08 - May 30 with 2150 views | derbyhoop |
I'm with Brighton on this one, earning in sterling and spending in Euros.
The day before the referendum the £/€ exchange rate was 1.31. In the immediate aftermath it fell to about 1.20, then drifted down some more, bottoming out at about 1.10. Over the last 6-9 months it's tended to drift between 1.14 and 1.18.
So what, I hear people say. But it is the major factor in rising inflation in the UK. Coupled with falling "real" wages then most people are going to be worse off in 2017 than 2016. That downward drift may well continue over the next 10 years.
Depending what happens if/when Brexit negotiations start, and I wouldn't hold out hopes for any of them, I could see the rate falling below 1.10 |  |
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| UK Pound on 08:56 - May 30 with 2085 views | essextaxiboy |
| UK Pound on 08:08 - May 30 by derbyhoop |
I'm with Brighton on this one, earning in sterling and spending in Euros.
The day before the referendum the £/€ exchange rate was 1.31. In the immediate aftermath it fell to about 1.20, then drifted down some more, bottoming out at about 1.10. Over the last 6-9 months it's tended to drift between 1.14 and 1.18.
So what, I hear people say. But it is the major factor in rising inflation in the UK. Coupled with falling "real" wages then most people are going to be worse off in 2017 than 2016. That downward drift may well continue over the next 10 years.
Depending what happens if/when Brexit negotiations start, and I wouldn't hold out hopes for any of them, I could see the rate falling below 1.10 |
I understand that it is a problem for you and Brighton , but if you Google "pound overvalued " you will find plenty of the experts that you quoted during the Brexit debate saying exactly that 2 years before the referendum .
The steep rise the days before the referendum was simply speculators and day traders buying it up and selling it down .
Labour are 7/2 to be the next Government , you could place a hedge bet to cover any potential loss of income . If you used 1.10 over the next 6 months , that would give you your stake amount ... | | | |
| UK Pound on 16:33 - May 30 with 1909 views | londonscottish |
It's nothing to do with Corbyn, it's May.
In order to grab as many votes as possible she's combining the worst ideas of both Corbyn and Farage at the same time.
She's disbanded the Business Advisory Group or whatever it's called so the CBI's now totally in the dark as to just how she thinks things will actually work. Then she's making matters worse by talking about all sorts of new legislation and here dislike of free markets. Shot in both feet already.
On the other hand she's pandering to the anti-immigration brigade by threatening to reduce immigration to 100,000 with out any detail as to how. The health secretary doesn't want to lose any nurses, the construction industry need 60,000 in London and the SE right now, the Fin Tech boys are crying out for skills, the hospitality industry is bricking it etc etc. More shots in both feet.
Add in all her random U turns and dumb policy announcements and it's turning into a right car crash.
And the alternatives are Corbyn's SWP or an invisible born-again gay-hating anti-abortionist. Or the Greens.
I'm amazed the pounds so high........ |  |
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| UK Pound on 18:03 - May 30 with 1830 views | hopphoops |
| UK Pound on 16:33 - May 30 by londonscottish |
It's nothing to do with Corbyn, it's May.
In order to grab as many votes as possible she's combining the worst ideas of both Corbyn and Farage at the same time.
She's disbanded the Business Advisory Group or whatever it's called so the CBI's now totally in the dark as to just how she thinks things will actually work. Then she's making matters worse by talking about all sorts of new legislation and here dislike of free markets. Shot in both feet already.
On the other hand she's pandering to the anti-immigration brigade by threatening to reduce immigration to 100,000 with out any detail as to how. The health secretary doesn't want to lose any nurses, the construction industry need 60,000 in London and the SE right now, the Fin Tech boys are crying out for skills, the hospitality industry is bricking it etc etc. More shots in both feet.
Add in all her random U turns and dumb policy announcements and it's turning into a right car crash.
And the alternatives are Corbyn's SWP or an invisible born-again gay-hating anti-abortionist. Or the Greens.
I'm amazed the pounds so high........ |
Without wanting to be a right smart arse, the pound is exactly half the value in Swiss Francs it was when i moved here 10 years ago. That's more about the Swissie than the pound admittedly, but I don't see the trend changing. |  |
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| UK Pound on 21:51 - May 30 with 1742 views | londonscottish |
| UK Pound on 18:03 - May 30 by hopphoops |
Without wanting to be a right smart arse, the pound is exactly half the value in Swiss Francs it was when i moved here 10 years ago. That's more about the Swissie than the pound admittedly, but I don't see the trend changing. |
Well the Swiss franc has been going into it's own orbit.
But our underlying economy isn't too clever, really, and when you look how sterling is stacked up against the USD and the Euro you can see what the markets think - and it's probably at roughly the right level TBH.
But throw in Breixt and then look at what the three idiots out there are campaigning for in terms all sorts of impossible-to-deliver policies (well the Tories and Labour + teh born again one...) and it's hardly enhancing us on the world stage........ | |
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