Pound near 20-month low on Brexit setback, dollar steadies after surge

[lamyai3]

12 hours ago, webfact said:

Sterling crawled up 0.1 percent to $1.2574 (0.9879 pounds) <GBP=D4> after slumping 1.3 percent the previous day, when the currency brushed $1.2507, its lowest since April 2017.

As for the pound against the baht, today was the lowest rate of exchange since June 1997. 

[CharlieH]

Currently £1=40.+ !! Depressing.????

[Stargeezr]

Don't  worry Britain, Canada is 73 cents to the US dollar, and heck we are not trying to leave anybody. The Aussie dollar is likely similar.

Geezer

[joecoolfrog]

On 12/11/2018 at 11:44 AM, BritManToo said:

If you all know how the pound is going to move, why aren't you all multi-millionaires?

Too Easy ;

Sterling will react to the eventual Brexit conclusion , unfortunately we dont know what that will be. Anybody who did , or guesses correctly , could certainly make a great deal of money.

One doesn't need to be particularly bright to know which result will benefit Sterling and which result will further floor it.

[BritManToo]

2 minutes ago, joecoolfrog said:

One doesn't need to be particularly bright to know which result will benefit Sterling and which result will further floor it.

I have no idea what will happen to the pound either way.

Currently, Europe is a mess, and the UK is much more stable.

[joecoolfrog]

11 minutes ago, BritManToo said:

I have no idea what will happen to the pound either way.

Currently, Europe is a mess, and the UK is much more stable.

The money markets are weird , they exist in their own defined bubble and react sharply to current uncertainty.

Ask yourself why a tinpot currency like the baht is performing so well despite an economy dwarfed by the UKs and political problems that wont get better in our lifetime.

Its simply that the baht is regarded as stable , little to do with the overall future strength of its economy , strange really.

Edited December 12, 2018 by joecoolfrog

[lamyai3]

On 12/11/2018 at 6:49 PM, shadowofacloud said:

Strong and stable - stable (augean, most likely) being the key word.

Or perhaps stable as in "very stable genius". 

[SheungWan]

On 12/12/2018 at 9:21 PM, BritManToo said:

I have no idea what will happen to the pound either way.

Currently, Europe is a mess, and the UK is much more stable.

It appears you have no idea about GBPEUR looking backwards either.

See 5 year chart.

 

Edited December 14, 2018 by SheungWan

[SheungWan]

On 12/12/2018 at 9:32 PM, joecoolfrog said:

The money markets are weird , they exist in their own defined bubble and react sharply to current uncertainty.

Ask yourself why a tinpot currency like the baht is performing so well despite an economy dwarfed by the UKs and political problems that wont get better in our lifetime.

Its simply that the baht is regarded as stable , little to do with the overall future strength of its economy , strange really.

You mistake size for expected performance. ie large should perform better than small, but that's not necessarily true at all. And nor is the opposite. EUR performing better than GBP, which shouldn't happen according to Brexiteers. But then the crackpot Conspiracy Theories kick in.

[SheungWan]

On 12/12/2018 at 9:18 PM, joecoolfrog said:

Too Easy ;

Sterling will react to the eventual Brexit conclusion , unfortunately we dont know what that will be. Anybody who did , or guesses correctly , could certainly make a great deal of money.

One doesn't need to be particularly bright to know which result will benefit Sterling and which result will further floor it.

Not exactly rocket science. However, good luck with the Brexit Magical Mystery Tour speculation.

Edited December 14, 2018 by SheungWan

[SheungWan]

On 12/12/2018 at 12:22 AM, CharlieH said:

Currently £1=40.+ !! Depressing.????

Not if you are going to buy Sterling.

[SheungWan]

On 12/11/2018 at 6:44 PM, BritManToo said:

If you all know how the pound is going to move, why aren't you all multi-millionaires?

Some have been diversifying out. Some more than others. But maybe not the Brexiteer Grumpies reliant on sterling income. Just gritting teeth.

[malagateddy]

Some have been diversifying out. Some more than others. But maybe not the Brexiteer Grumpies reliant on sterling income. Just gritting teeth.

Imo..the Brexiteers who contribute bits n bobs on this forum knew quite well that sterling would " take the hit ".
However..like me..money is not their god..like me..they will all get on with their life and still have and enjoy a decent quality of life.
The " hit " will be more noticeable in certain UK cities with property prices tumbling.
However..surely that's good news for 1st time property purchasers??!!
Swings and roundabouts[emoji6]


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[SheungWan]

3 minutes ago, malagateddy said:

Imo..the Brexiteers who contribute bits n bobs on this forum knew quite well that sterling would " take the hit ".
However..like me..money is not their god..like me..they will all get on with their life and still have and enjoy a decent quality of life.
The " hit " will be more noticeable in certain UK cities with property prices tumbling.
However..surely that's good news for 1st time property purchasers??!!
Swings and roundabouts

Provincial Brexiteers' Economic Manifesto For Drowning.

Edited December 15, 2018 by SheungWan

[malagateddy]

Sadly..imo..you seem to be a very bitter remoaning loser..like some others on this forum

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[SheungWan]

 

9 minutes ago, malagateddy said:

Sadly..imo..you seem to be a very bitter remoaning loser..like some others on this forum

Not so much when I can buy cheap Pounds plus be entertained by the expat Brexiteer Grumpies shooting themselves in their Sterling feet.

[malagateddy]

Whatever turns you on

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[overherebc]

People making lots of money on this. Read a report yesterday that some exchange booths in Heathrow were changing pounds at $1.06

Good business.