Pound is second-worst performing currency in the world

[BritManToo]

4 minutes ago, JamJar said:

Let's see an analysis of what life would be like for the average Brit. Not just wishful comment that everything is going to be great.

Ten years back my life in the Uk was shit, so I left.

Nothing to do with Brexit then, it's just the way the western world is moving.

 

Blade runner/1984/Hunger games here we come.

[madmen]

2 hours ago, stillhereandlovinit said:

Keep it dropping, great for us that only use the pound when going to visit family and friends.

Its a race to the bottom with The OZ dollar making a late run down the straight. Great news for those who have loads of baht and wish to repatriate or holiday or just cash their chips in and wait for the reversal but the bottom could be years away yet.

Edited July 31, 2019 by madmen

[soalbundy]

2 hours ago, Pib said:

 

https://www.thelondoneconomic.com/news/pound-sterling-second-worst-performing-currency-in-the-world-today-pipped-only-by-the-madagascan-ariary/29/07/

 

beaten by Madagascar for last place, come on UK you can do it, try a little harder.

[nauseus]

16 minutes ago, CNXexpat said:

But a few years after the Brexit the UK´s economy and the GBP will rise to new records, same as the economy. Right now all other countries are waiting to make very good trade contracts - very good for GB, not for them - with the UK, the industry will come back and the whole country will become a paradise. That´s what the Brexiteers think. The reality will become opposite.

Wotalotta cods.

[pegman]

So Boris has accomplished all this in just a week. Just think how things will be after 6 months with him in charge. Mark Carney was Gov of the Bank of Canada when the world financial crisis hit. We had no bank failures and people didn't lose there homes. When the English ignored his warnings and went with charlatans like Boris and the tabloids you just knew a train wreck was on its way. The worst is yet to come too. 

[iainiain101]

Prior to the Brexit vote, two of the top performing currencies in the world since 2010 were GBP and the Thai Baht.

 

GBP was performing well mainly because of the 'austerity' measures and the strong UK economy. I cannot really comment on the strength in the Thai Baht over that period.

 

Since the Brexit vote, GBP has lost around 20% against the USD. The Thai Baht has however remained one of the strongest currencies in the world and has gained approximately 10% against the USD.

 

So in rather simplistic terms, if GBP was worth 50 Baht before the Brexit vote, it has lost 10% against the Baht in the same way as the USD, so 45 Baht to GBP.  But GBP has also lost 20% against the USD over the same period, so 20% off of 45 Baht gives the current exchange rate of around 36 Baht per GBP.

 

 

 

 

Edited July 31, 2019 by iainiain101
spell

[CNXexpat]

8 minutes ago, soalbundy said:

beaten by Madagascar for last place, come on UK you can do it, try a little harder.

Wait for a couple of months. At the end of the year UK will be number one.

[nauseus]

1 minute ago, pegman said:

So Boris has accomplished all this in just a week. Just think how things will be after 6 months with him in charge. Mark Carney was Gov of the Bank of Canada when the world financial crisis hit. We had no bank failures and people didn't lose there homes. When the English ignored his warnings and went with charlatans like Boris and the tabloids you just knew a train wreck was on its way. The worst is yet to come too. 

Aha. We! 

[4MyEgo]

Last night at my local waterhole, got talking to a retired Pom who was quietly drinking his beer, and I asked, how you going to cope if the pound drops any further, he finished his beer and fell to the floor ????

 

Suck it in lads, when times get tough, you can always drink Sarsaparilla till things look on the up, that or ask for a yearly tab with the bar owner ????

 

 

[ThomasThBKK]

27 minutes ago, iainiain101 said:

Prior to the Brexit vote, two of the top performing currencies in the world since 2010 were GBP and the Thai Baht.

 

GBP was performing well mainly because of the 'austerity' measures and the strong UK economy. I cannot really comment on the strength in the Thai Baht over that period.

 

Since the Brexit vote, GBP has lost around 20% against the USD. The Thai Baht has however remained one of the strongest currencies in the world and has gained approximately 10% against the USD.

 

So in rather simplistic terms, if GBP was worth 50 Baht before the Brexit vote, it has lost 10% against the Baht in the same way as the USD, so 45 Baht to GBP.  But GBP has also lost 20% against the USD over the same period, so 20% off of 45 Baht gives the current exchange rate of around 36 Baht per GBP.

 

 

 

 

You have to use a bigger timeframe for the thai baht.

The last 10 years it's basically recovering from the financial crisis in asia where it got hit badly.

It's after all not so surprisingly it's doing so good the last year as it started from the bottom.

[Chomper Higgot]

Brexiteer head burying has got to the point where 'Not as bad as Venezuela' is the best retort to ever worsening news on Sterling. 

[madmen]

10 minutes ago, ThomasThBKK said:

You have to use a bigger timeframe for the thai baht.

The last 10 years it's basically recovering from the financial crisis in asia where it got hit badly.

It's after all not so surprisingly it's doing so good the last year as it started from the bottom.

what financial crisis was that 10 years ago?

[Laughing Gravy]

1 hour ago, Isaanbiker said:

Here's the solution. The Euro for the whole UK and all is solved. Almost all. 

As we are talking absolute nonsense, why not Including Thailand for that too as there is as much likely hood that the Euro will replace the Baht as the Euro, replacing the Pound. Have you been on them exotic cigarettes.

Edited July 31, 2019 by Laughing Gravy

[youreavinalaff]

1 hour ago, bannork said:

It was only 76 for a short time after the Tom Yang Kung crisis in 1997. When I first came to Thailand in 1987 the currency was tied to the dollar and fluctuated between 35-40 baht a pound.

I remember 76 (maybe high 75) and over 70 for a long time in 2004/5

[nauseus]

19 minutes ago, Chomper Higgot said:

Brexiteer head burying has got to the point where 'Not as bad as Venezuela' is the best retort to ever worsening news on Sterling. 

Who said that then?

[Chomper Higgot]

Just now, nauseus said:

Who said that then?

Read the thread. 

[nauseus]

Just now, Chomper Higgot said:

Read the thread. 

There is no string. Just your post.

[iainiain101]

1 hour ago, ThomasThBKK said:

You have to use a bigger timeframe for the thai baht.

The last 10 years it's basically recovering from the financial crisis in asia where it got hit badly.

It's after all not so surprisingly it's doing so good the last year as it started from the bottom.

 

Very true, prior to the Tiger crisis of 1997, one GBP got you just under 40 Baht.

 

 

[bannork]

1 hour ago, Chomper Higgot said:

Brexiteer head burying has got to the point where 'Not as bad as Venezuela' is the best retort to ever worsening news on Sterling. 

Another one is the EU will cave in, they need our market. Now it's talk of, 'They'll come back in 2 years begging for a deal. It's not only Asians that don't like to lose face.'

[bristolboy]

Just now, bannork said:

Another one is the EU will cave in, they need our market. Now it's talk of, 'They'll come back in 2 years begging for a deal. It's not only Asians that don't like to lose face.'

Ya think the EU needs the UK more or even as much as the UK needs the EU? Got the math to back up that assertion?

 

[Chomper Higgot]

1 minute ago, bristolboy said:

Ya think the EU needs the UK more or even as much as the UK needs the EU? Got the math to back up that assertion?

 

I think he was being facetious. 

 

[JulesMad]

5 hours ago, Basil B said:

3 words: Shot, Foot & Brexit

[puipuitom]

5 hours ago, ballpoint said:

But, but, the pound is weak only because the BOT keeps the Baht strong.  Nothing to do with Brexit.  It must be true, I read it on this very forum!

Again a Brexiteer, who does not look further as his nose length.

See GBP compared with its main tradign parties: €uro and US$-countries,.  sink, sank, sunk, up towards the British pound is one ounce..

In 1970 I hitch hiked from Dover to inverness… Then a £ was worth Hfl 10,64 or DM 11,82 ( /2 = € 5,91) Beginning 2016: € 1,43 and today; € 1,09 .

Is this the real reason, why the British envy the Germans so much ?

[puipuitom]

3 hours ago, canopus1969 said:

Not all gloom, from todays Telegraph :

 

The pound is 7pc higher than it was at the nadir of the global financial crisis in 2008, when the illusion briefly persisted that Europe was insulated from the effects of a bursting global debt bubble.

A weaker sterling risks inflation in normal times but the calculus is different in today’s weird global circumstances. Most developed countries are trying to drive down their currencies to steal a sliver of deficient world demand and stave off deflationary forces. The irony is that the UK alone - by political accident - has managed to pull off a structural devaluation and shift its interest rate regime onto a healthier “forward curve”.

https://www.statista.com/statistics/412806/euro-to-gbp-average-annual-exchange-rate/  

[marcusarelus]

1 hour ago, Chomper Higgot said:

Read the thread. 

No body said it.

[puipuitom]

3 hours ago, CNXexpat said:

But a few years after the Brexit the UK´s economy and the GBP will rise to new records, same as the economy. Right now all other countries are waiting to make very good trade contracts - very good for GB, not for them - with the UK, the industry will come back and the whole country will become a paradise. That´s what the Brexiteers think. The reality will become opposite.

Get better deals as now as EU member state ? With whom ? The Suza Islands ? 

Who thinks, the EU will not INSIST a better deal with 450 mln consumers as a small Island with only 67 mln consumers ?

Be happy when the Indians of Tata do not close "British" Steel or Jaguar Land Rover ( finished with 290.000 cars/yr production)

[puipuitom]

1 hour ago, bannork said:

Another one is the EU will cave in, they need our market. Now it's talk of, 'They'll come back in 2 years begging for a deal. It's not only Asians that don't like to lose face.'

Yes with : no preferences, accept Schengen + 2 £ per € , and right lane traffic. Oh.. and pay the amount you run away for + for the future, pay in advance your contribution...

[Peasandmash]

gotta hold on. Once Brexit is implemented there will be recovery ... as for the euro without the UK backing.. there will be blood in the streets.

[Mel52]

Which is the worst?

Well if the British pound really is the second worst in the world I’d guess that the Australian Dollar is probably by far the worst in the world but I haven’t researched it yet. Local information sources definitely can’t be trusted it’s like college you have to find reliable sources for information that can be trusted. Probably the only thing I really learned in college that I didn’t already know. For example Wikipedia is not an acceptable source of information.

[dimitriv]

3 hours ago, CNXexpat said:

But a few years after the Brexit the UK´s economy and the GBP will rise to new records, same as the economy. Right now all other countries are waiting to make very good trade contracts - very good for GB, not for them - with the UK

 

Even in the US they are looking forward to this.

 

We'll block trade deal if Brexit imperils open Irish border, say US politicians

https://www.theguardian.com/politics/2019/jul/31/brexit-mess-with-good-friday-and-well-block-uk-trade-deal-us-politicians-warn