jpinx

since I started that XE.com point I'll explain why -- it is for the purpose of watching the trends .. not for use by Joe Blogs who wants to transfer his pension to Siam Krung Bank. That rate he can find on their website.

Tin Martin to be minister for pubs and real ale!

I want to be a fly on the wall when Boris meets Putin I see the French are gunning for him already -- this is going to be great fun!!

long-term and short-term -- explanations not needed for anyone with any experience of graphs

Though an understanding of the impact of exchange rates on foreign currency asset values might help.

Seriously??? Maybe some references as to how FTSE and the market works will illuminate the readers here who wish to pursue the discussion...

https://en.wikipedia.org/wiki/FTSE_100_Index

".......FTSE, or, informally, the "Footsie" /ˈfʊtsi/, is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalization. It is seen as a gauge of prosperity for businesses regulated by UK company law. The index is maintained by the FTSE Group, a subsidiary of the London Stock Exchange Group............"

http://www.ftse.com/products/indices/uk

"...... FTSE 100 Index (UKX) - comprises the 100 most highly capitalised blue chip companies listed on London Stock Exchange....."

http://www.londonstockexchange.com/prices-and-markets/markets/prices.htm

... for the current market.

This has nothing to do with any currency fluctuations. Ask any qualified broker.... I'm done with researching for folks in here -- do your own leg-work and prove your postings with valid references

...

Siemens and other stalwarts of EU business have said they will increase investments in UK specifically because UK is leaving EU.

...

Can you put up a link where Siemens have said they are increasing investment in the UK BECAUSE the UK is leaving the EU.

I've capitalised the 'Because' since I want to make sure you don't miss it in your response. ('Despite of' does not mean 'Because of').

You are quoting reporters words -- not the bosses words....

“The UK matters with or without being a member of the EU. The Brexit vote will not diminish our commitment to your country. Siemens will not leave the next generation behind, ” Kaeser said.

Now I'm quoting your words, your claim that - "Seimens and other stalwarts of EU business have said they will increase investment in the UK specifically because UK is leaving the EU"

With the words you have kindly provided from Kaeser.

Your 'avin' a larf

More about the Seimens position -- from the telegraph and others ....

Mr Kaeser said the company had been misunderstood in the heat of the Brexit campaign when it was widely seen as a cheer-leader for Remain. Corporate damage-control is underway at the highest level.

“We never said the UK is in bad shape if it leaves the EU: we said the EU would miss a massive opportunity. Without the UK, the EU may never be able to stand up against superpowers like China and the US,” he told the Daily Telegraph and three other UK newspapers.....

not single sourcing information from obscure reports that suit a contrary viewpoint -- as some people do

http://www.bournemouthecho.co.uk/business/news/14615237.Siemens_WILL_invest_in_UK_despite_Brexit_warnings/

The bournemouth echo??? now who's having a laugh

The FTSE is now higher than at any time back to about September 2015 --

https://chart.finance.yahoo.com/z?s=%5eFTSE&t=1y&q=&l=&z=l&a=v&p=s〈=en-GB&region=GB

and higher now than at any time 2008 to 2014

http://charts.moneyam.com/Chart.aspx?Provider=EOD&Code=UKX&Size=603&Skin=GreenRed&Type=2&Scale=0&Span=YEAR10&MA=&OVER=&IND=&COMP=&XCycle=&XFormat=&Layout=Default;HisDate&SV=0&LP=0&LVT=0

Its a little more complicated than that, and far too soon to draw any real conclusions:

Over to the rightwing press for a better outline of what to look out for and when it will be available. http://www.telegraph.co.uk/business/2016/07/05/when-will-we-know-if-the-uk-economy-has-been-hit-by-brexit-and-w/

To be lead by what a journalist thinks and writes is a road to destruction. Since when did any journalist make an accurate predicition? If they did - they'd all be millionaires.

As for the "Its a little more complicated than that...." -- bullshit -- it is what it is and the trend is clear.

Once again, I am pleased to see your unequivocal statements that we can come back to at a later date.

long-term and short-term -- explanations not needed for anyone with any experience of graphs

download.jpg

The £ has just went above 47 Baht.

Catch that sky.

Alleluia, we are all saved.

Opps!

http://www.fxstreet.com/rates-charts/gbpusd/chart

GBP/THB interbank rate 46.69

estimated TT rate Thai banks tomorrow 46.63

Let's stick to XE.com for the sake of a political argument -- it's a median rate and reflects the movements and trends quite well. A discussion about bank rates will be never-ending because of the number of different rates you can get. Every tried buying US$ in Cambodia with Thai baht?

.... Pound / euro

The FTSE is now higher than at any time back to about September 2015 --

https://chart.finance.yahoo.com/z?s=%5eFTSE&t=1y&q=&l=&z=l&a=v&p=s〈=en-GB&region=GB

and higher now than at any time 2008 to 2014

http://charts.moneyam.com/Chart.aspx?Provider=EOD&Code=UKX&Size=603&Skin=GreenRed&Type=2&Scale=0&Span=YEAR10&MA=&OVER=&IND=&COMP=&XCycle=&XFormat=&Layout=Default;HisDate&SV=0&LP=0&LVT=0

Its a little more complicated than that, and far too soon to draw any real conclusions:

Over to the rightwing press for a better outline of what to look out for and when it will be available. http://www.telegraph.co.uk/business/2016/07/05/when-will-we-know-if-the-uk-economy-has-been-hit-by-brexit-and-w/

To be lead by what a journalist thinks and writes is a road to destruction. Since when did any journalist make an accurate predicition? If they did - they'd all be millionaires.

As for the "Its a little more complicated than that...." -- bullshit -- it is what it is and the trend is clear.

.....It has not been made easier by the Remain groups constantly talking the UK down should there have been an exit, during the campaign, they now who they are and when you look at how your pension has been affected or your funds to support your life here just remeber that they have made your position more difficult than it needed to be and caused the markets to over react.

Ah so its all the fault of the people who voted against Brexit and continue to exercise their democratic rights to protest, lobby or express opinions against a referendum in which their view was narrowly defeated, the leaders of the Brexit campaign have departed, the promises made by the (lately departed leaders) were lies, there was not forward plan and nobody has any idea how or on what basis the UK is going to negotiate any deal with the EU.

Yep classic Brexteering - Blame other people.

Attempts to "blame" are coming thick and fast from Remainers who don't have the vision to see an independent UK.

When was this veto last used? Point me to a vote that was overturned by the alleged veto.

All I can find is "Cameron gives up veto" stories.

When the veto was last used, or indeed if it was ever used, is an irrelevance.

EU laws are only passed after a period of consultation between member states in the EU parliament and after ratification by the national parliaments of the individual states - holding veto rights ensures that all parties understand that if a law or regulation does not meet the agreement of the veto holding state, then that state can simply block the law/regulation.

The last time it should have been used, but was not, was on the occasion of the enlargement of the EU to include former Eastern European states - Tony Blair's Nu-Labour government signed to agree the enlargement of Europe without asking for any concessions on behalf of the UK.

Stories regarding Cameron giving up the veto are nonsense - Cameron did not give up the veto. The UK still has its veto, though leaving the EU will end it.

UK will not have a veto, not have any EU laws, not have any quotas imposed on fishing or agriculture by Brussels, not have to bail out Greece or Italy or whoever fails next, not have to abide by any immigration quotas imposed by Brussels... what not to like? Trade will be sorted out as we progress down the exit-lane, and financial markets are already recovering from the drop caused by imbecilic traders who can't see past the profit of ten minutes.....

Siemens and other stalwarts of EU business have said they will increase investments in UK specifically because UK is leaving EU. Remainers really need to show their patriotic characters and get behind the new team at westminster and support the sane and orderly progress to Brexit instead of continuing their claims of doom and gloom and their wanton obstruction of UK's next phase. You might not like it - but that does not give you the right to fabricate nonsense to de-rail it.......

Appart from your retreat to the age old nationalist trope of wrapping yourself in the flag and suggesting that anyone who does not get on side (your side) is not a patriot, I'm rather pleased with the unequivocal statements you've made above (highlighted in red), we can come back to these at a later date.

Can you put up a link where Siemens have said they are increasing investment in the UK BECAUSE the UK is leaving the EU.

I've capitalised the 'Because' since I want to make sure you don't miss it in your response. ('Despite of' does not mean 'Because of').

You are quoting reporters words -- not the bosses words....

“The UK matters with or without being a member of the EU. The Brexit vote will not diminish our commitment to your country. Siemens will not leave the next generation behind, ” Kaeser said.

The FTSE is now higher than at any time back to about September 2015 --

https://chart.finance.yahoo.com/z?s=%5eFTSE&t=1y&q=&l=&z=l&a=v&p=s〈=en-GB&region=GB

and higher now than at any time 2008 to 2014

http://charts.moneyam.com/Chart.aspx?Provider=EOD&Code=UKX&Size=603&Skin=GreenRed&Type=2&Scale=0&Span=YEAR10&MA=&OVER=&IND=&COMP=&XCycle=&XFormat=&Layout=Default;HisDate&SV=0&LP=0&LVT=0

When was this veto last used? Point me to a vote that was overturned by the alleged veto.

All I can find is "Cameron gives up veto" stories.

When the veto was last used, or indeed if it was ever used, is an irrelevance.

EU laws are only passed after a period of consultation between member states in the EU parliament and after ratification by the national parliaments of the individual states - holding veto rights ensures that all parties understand that if a law or regulation does not meet the agreement of the veto holding state, then that state can simply block the law/regulation.

The last time it should have been used, but was not, was on the occasion of the enlargement of the EU to include former Eastern European states - Tony Blair's Nu-Labour government signed to agree the enlargement of Europe without asking for any concessions on behalf of the UK.

Stories regarding Cameron giving up the veto are nonsense - Cameron did not give up the veto. The UK still has its veto, though leaving the EU will end it.

UK will not have a veto, not have any EU laws, not have any quotas imposed on fishing or agriculture by Brussels, not have to bail out Greece or Italy or whoever fails next, not have to abide by any immigration quotas imposed by Brussels... what's not to like? Trade will be sorted out as we progress down the exit-lane, and financial markets are already recovering from the drop caused by imbecilic traders who can't see past the profit of ten minutes.....

Siemens and other stalwarts of EU business have said they will increase investments in UK specifically because UK is leaving EU. Remainers really need to show their patriotic characters and get behind the new team at westminster and support the sane and orderly progress to Brexit instead of continuing their claims of doom and gloom and their wanton obstruction of UK's next phase. You might not like it - but that does not give you the right to fabricate nonsense to de-rail it.......

I almost forgot to ask, what does Brexit actually mean, how will we know when it's started, happened and when it's finished, what are the key milestones or indicators?

The end would be no longer having MEPs in EuroParl, and no longer paying money to support the EU.

The first will happen, the second may never happen.

Don't go there MJM.

Please do MJM !! we need more humour and nonsense in here to counter-act the rubbish.

Comparative FX rates for the last ten years -- for the provision of fact over speculation

FX-10years.png

Interesting that you set the baseline time frame at ten years.

That's as far as xe.com go back. feel free to make it 20 years for interest's sake .

Comparative FX rates for the last ten years -- for the provision of fact over speculation

It's all lies, smoke and mirrors ! Even the IMF have said that the EU is not able to live within it's means, but there's no sign of anyone in Brussels actually doing anything about that -- apart from asking members for bigger contributions.

except for your IMF reference i fully agree with you. but what do you expect that the parasites in Brussels do? cut themselves off from the honey pot?

cleaning out that Augias stable could have been done by a concerted action by the governments of Germany, Britain, France and a fistful other countries with reasonable politicians. but reality is that the top politicians of these countries won't do anything which could endanger their reelection

Take your pick of the reports

............. but reality is that the top politicians of these countries won't do anything which could endanger their reelection

......and there's the nub of it

I think the Remain side basically said that things would stay the same but with some tinkering with immigration rules etc.

Brexit promised to Take Back Control - I was never clear on the What, How, Who of this. £350m extra a week was supposed to be going into the NHS and VAT removed from fuel. Not much chance of any of that happening, I suspect.

I think Brexit was promoted almost like some form of religion, with different interpretations according to the various denominations. Thus we had the 'moderates' who followed Boris, through to the more hard-line 'fundamentalists' who followed Farage. Its been more about 'faith' than 'facts'.

for starters... the

£350m extra a week

was a blatant lie in addition to a bunch of semi-truths. leavers had the chance to inform themselves, but they didn't. and those who were in charge of the remain movement missed the chance. a major reason for losing the referendum.

It's all lies, smoke and mirrors ! Even the IMF have said that the EU is not able to live within it's means, but there's no sign of anyone in Brussels actually doing anything about that -- apart from asking members for bigger contributions.

Your insults do you no favours. Please refrain from personalised baiting and stick to the topic in accordance with the forum rules.

Forgive me jpinx, it seems my post did not come across as intended.

I do not believe it possible to insult someone by referring to honest work or business they do/have done.

I am also aware of the forum rules.

But you introduced your 40 years in business into the discussion, stating " having been in business for 40 years" you would "pull the plug today"

You have expressed an opinuon based on your personal business experience, it makes sense to question what that business was.

If your business was in aerospace trading across multiple borders, with the EU and tge rest of the world then your experience would be very different than,say, a jobbing plumber who lost trade to immigrant plumbers.

It is you who introduced references to your business. I've asked for clarification, the logic of which is explained above.

All of the businesses I have mentioned are honest and honorable ways to make a living, I hope you will accept I intended no insult to you or anyone working in those trades or businesses.

Indeed - and I apologise for my part in our mutual mis-understanding. Suffice to say that you hit the nail squarely on the head with your posit of an international business.

Well yes but, with the drop in value those pounds are worth a lot less in global purchasing value.

Sterling has become an unstable currency with a dramatic drop in such a short period of time with no clear sign that the underlying political issues are going to be resolved any time soon. That instability has been immediately reflected in the stock markets but has yet to filter down into real world issues for people in the uk which is the effect on jobs and inflation.

Measured in sterling my net worth has gone up 6.9% in the first six months of the year which, as a Brit, I would normally be quite chuffed about, however, I don't buy anything here in pounds so a more realistic figure would be the 5.9% drop in value measured in baht or the longer term view I prefer of 3.8% down in USD terms.

==================

Okay -- so what is the standard by which we should be measuring the value of a currency? the US$ ? gold? A basket of other currencies? It's all opinion and basically fiction. The ONLY standard is *confidence*, and that is what the UK politicians are robbing from Sterling with every day that passes without a clear vision of the future. The vote was to Leave -- please do it NOW! ....and watch sterling rebound

Why not tell us what you think a sensible time frame is for Brexit, perhaps start with, "select a PM" and take us through the key/major steps which takes us to final having severed all ties with those nasty Europeans, if indeed that's your end point?

Having been in business for 40 years - I would pull the plug today

There's a reason why the Treaty allocates 2 years for this process and it's got nothing to do with stalling tactics, but it has a lot to do with the scale and complexity of the tasks involved.

Fine - -I don't entirely agree - but the issue is it must start TODAY -- actually it should have started the day after the referendum result was confirmed. This further highlights the total recklessness of the politicians in allowing the uncertainty to continue.. Right or Wrong - the UK is leaving. Now roll up your collective sleeves and make it happen. Every day in limbo reduces confidence and devalues *both* currencies - obviously sterling moreso. I had a low opinion of politicians before this referendum result, but now I would line them all up and shoot them as traitors, for not acting decisively according to the result.

Where is Maggie Thatcher when you need her?????

I think the Remain side basically said that things would stay the same but with some tinkering with immigration rules etc.

Brexit promised to Take Back Control - I was never clear on the What, How, Who of this. £350m extra a week was supposed to be going into the NHS and VAT removed from fuel. Not much chance of any of that happening, I suspect.

I think Brexit was promoted almost like some form of religion, with different interpretations according to the various denominations. Thus we had the 'moderates' who followed Boris, through to the more hard-line 'fundamentalists' who followed Farage. Its been more about 'faith' than 'facts'.

When I was young we were not allowed to talk about religion, football or politics at the dinner table. Poor little Portugal have seen off the rest of the EU very nicely - there is a silver lining! Nationalism is often a "religion" -- but so European-ism. It's a vision based on ideals, not facts. So many UK people have been uncomfortable with being in the EU it was only a question of time before nationalism rebounded. Now the question is -- are the politicians patriotic enough to fulfill the wishes of the majority of the UK people?

Having been in business for 40 years - I would pull the plug today

Out of curiousity, what business ?

Sorry - I should not have responded to the personalised question before.

Obviously not a business in international markets or you'd have been climbing over yourself to tell us of your personal experience of regulations, taxes, tarrifs and trade deals.

As it is you leave us to conclude you have no experience of international trade, business, projects, contracts or work from the blatently missing veracity of anything you have to say on the matter.

I'll guess plumber, window fitter or builder.

;-)

Your insults do you no favours. Please refrain from personalised baiting and stick to the topic in accordance with the forum rules.

Having been in business for 40 years - I would pull the plug today

Out of curiousity, what business ?

Sorry - I should not have responded to the personalised question before.

The issue is not "what would *you* do?" The issue is that the politicians are doing *nothing*

I suspect they are doing more than you imagine.

Not so. No politician did *anything* without crowing about it....

The issue is not "what would *you* do?" The issue is that the politicians are doing *nothing*

Well yes but, with the drop in value those pounds are worth a lot less in global purchasing value.

Sterling has become an unstable currency with a dramatic drop in such a short period of time with no clear sign that the underlying political issues are going to be resolved any time soon. That instability has been immediately reflected in the stock markets but has yet to filter down into real world issues for people in the uk which is the effect on jobs and inflation.

Measured in sterling my net worth has gone up 6.9% in the first six months of the year which, as a Brit, I would normally be quite chuffed about, however, I don't buy anything here in pounds so a more realistic figure would be the 5.9% drop in value measured in baht or the longer term view I prefer of 3.8% down in USD terms.

==================

Okay -- so what is the standard by which we should be measuring the value of a currency? the US$ ? gold? A basket of other currencies? It's all opinion and basically fiction. The ONLY standard is *confidence*, and that is what the UK politicians are robbing from Sterling with every day that passes without a clear vision of the future. The vote was to Leave -- please do it NOW! ....and watch sterling rebound

Why not tell us what you think a sensible time frame is for Brexit, perhaps start with, "select a PM" and take us through the key/major steps which takes us to final having severed all ties with those nasty Europeans, if indeed that's your end point?

Having been in business for 40 years - I would pull the plug today