Coronavirus: British Pound plunges to its lowest level in over 30 years

[luckyluke]

4 minutes ago, sanemax said:

Its quite a complex issue .

Money men have been ditching the Pound in favour of U.S $

The Baht also weakened which made your money rise .

I suppose it is also a complex issue why "Money men" are ditching the Pound in favor of the U.S.$ only, and not the Euro too. 

 

 

[Logosone]

The underlying problems of the UK economy are exposed for all to see.

 

All countries suffer from coronavirus, the UK is not even the worst affected by corona.

 

But the Pound is the weakest currency now and took the biggest fall.

 

This is due to the large debt of the UK and other issues it creates for the economy.

[vogie]

39 minutes ago, CNXexpat said:

I wrote not about the number of cases. They can increase very quick as you can see in Thailand right now with plus 60. I look at the case-deaths ratio, what is really bad in the UK. By example South Korea and Germany have much more cases than the UK but also much less deaths. 

Whichever way you wish to parade the facts, 3000 deaths in Italy is much worse than the UKs 103, unless by twisting facts you are trying to pull the UK down, but we all know you would never do such a thing now don't we.????

[URMySunshine]

Letter to NHS trusts on getting ready. Expecting a lockdown tomorrow here near London so going on a last shopping trip before that happens. Getting very real now sadly and this sad video from Italy shows why. This is not the flu or a 'lark' for those that still harbour such nonsense. 

 

https://www.england.nhs.uk/coronavirus/wp-content/uploads/sites/52/2020/03/urgent-next-steps-on-nhs-response-to-covid-19-letter-simon-stevens.pdf

 

 

Edited March 19, 2020 by URMySunshine

[Opl]

15 minutes ago, vogie said:

Whichever way you wish to parade the facts, 3000 deaths in Italy is much worse than the UKs 103, unless by twisting facts you are trying to pull the UK down, but we all know you would never do such a thing now don't we.????

The facts are that Italians and other nationals can't fight the virus by being just " more British", sad.

When Italy and others  shared their equipments with China mid-february, there were "only" 33 deaths in Europe, sad again.  

And you know that "herd immunity" takes its fair share of our loved ones, too sad

Edited March 19, 2020 by Opl

[RubbaJohnny]

9 hours ago, saengd said:

In 1957 the Pound was worth $2.86, things change.

For those of us ancient enough over 4 hence the 2/6 two shillings and six pence (or 1/8) of the pound sterling was known in London as 'arf a dollar

 

We can see that British currency has jus a quarter of the value since Imperial times, the above states things change

 

Parity with the $ is not the floor .Exchange rates are a longer term reflection of relative economies, with Brexit and Corona those who depend on sterling are going to take a haircut. Brexit variously estimated 3-8% cut in economy Corona 7% so 10-14% in one year, Iimagine few young Uk backpackers, cruiser or boozers for old stuck on fixed pensions thin gruel and sanuk rationed.

[URMySunshine]

1 minute ago, RubbaJohnny said:

For those of us ancient enough over 4 hence the 2/6 two shillings and six pence (or 1/8) of the pound sterling was known in London as 'arf a dollar

 

We can see that British currency has jus a quarter of the value since Imperial times, the above states things change

 

Parity with the $ is not the floor .Exchange rates are a longer term reflection of relative economies, with Brexit and Corona those who depend on sterling are going to take a haircut. Brexit variously estimated 3-8% cut in economy Corona 7% so 10-14% in one year, Iimagine few young Uk backpackers, cruiser or boozers for old stuck on fixed pensions thin gruel and sanuk rationed.

We will count the cost when the crisis has passed but now it's war against the virus and we will win. 

[vogie]

16 minutes ago, Opl said:

The facts are that Italians and other nationals can't fight the virus by being just " more British", sad.

When Italy and others  shared their equipments with China mid-february, there were "only" 33 deaths in Europe, sad again.  

And you know that "herd immunity" takes its fair share of our loved ones, too sad

What this has to do with my post is anyones guess, a poster was being disingenuous with his post by not showing all the facts, I just asked for clarification and when I received it, it proved that there was certain information to be found that altered the context of his post.

 

Edited March 19, 2020 by vogie

[CNXexpat]

26 minutes ago, vogie said:

Whichever way you wish to parade the facts, 3000 deaths in Italy is much worse than the UKs 103, unless by twisting facts you are trying to pull the UK down, but we all know you would never do such a thing now don't we.????

Wow, you found the only country what have a worse case-deaths ratio on the list. It means you prefer to compare the UK with the countries of the bottom on the list. Congrats. ????

[vogie]

1 minute ago, CNXexpat said:

Wow, you found the only country what have a worse case-deaths ratio on the list. It means you prefer to compare the UK with the countries of the bottom on the list. Congrats. ????

This is not the time to be scoring cheap political points by pulling other countries down, maybe this is a time to forget about all your Brexit woes and start pulling together and become more humane and forget about this 'us and them' attitude then maybe we can get over this terrible virus.

[CNXexpat]

2 minutes ago, vogie said:

This is not the time to be scoring cheap political points by pulling other countries down, maybe this is a time to forget about all your Brexit woes and start pulling together and become more humane and forget about this 'us and them' attitude then maybe we can get over this terrible virus.

Sure, but that´s not the point in this thread. The GBP is down because the UK is the 2nd worse country in the world at the case-deaths ratio and only has a small number of cases. Everybody is afraid what will happen if the number of cases is increasing. 
And yes, the EU can help the UK. But first it will help the members of the EU family. The UK decided to leave the family. 

[bristolboy]

Just now, CNXexpat said:

Sure, but that´s not the point in this thread. The GBP is down because the UK is the 2nd worse country in the world at the case-deaths ratio and only has a small number of cases. Everybody is afraid what will happen if the number of cases is increasing. 
And yes, the EU can help the UK. But first it will help the members of the EU family. The UK decided to leave the family. 

Given the EU's response to Italy, I don't think much help can be forthcoming. They're all facing the same threat with limited resources to combat it. Some are doing a lot better with those resources but it's not like there's a sure surplus of materiel.

[evadgib]

8 minutes ago, vogie said:

This is not the time to be scoring cheap political points by pulling other countries down, maybe this is a time to forget about all your Brexit woes and start pulling together and become more humane and forget about this 'us and them' attitude then maybe we can get over this terrible virus.

A significant number of rejoiners and/or ponti's have nothing better to do all day ????

[bristolboy]

2 minutes ago, evadgib said:

A significant number of rejoiners and/or ponti's have nothing better to do all day ????

So you're posting here because you do have something better to do elsewhere?

[adammike]

12 minutes ago, vogie said:

This is not the time to be scoring cheap political points by pulling other countries down, maybe this is a time to forget about all your Brexit woes and start pulling together and become more humane and forget about this 'us and them' attitude then maybe we can get over this terrible virus.

You must be joking ever hear of schadenfreude.

[vogie]

3 minutes ago, adammike said:

You must be joking ever hear of schadenfreude.

You get pleasure from seeing other people suffering, that is sick.

[bristolboy]

48 minutes ago, luckyluke said:

We know that the British Pound plunge because of the Coronavirus.

 

I make monthly transfers from Belgium(Euro) to Thailand using Transferwise.

In January I got 33.69 net

In February 34.13

Now 34.92

 

Is this also because of the Coronavirus?

Or is it the Coronavirus only when a currency go down?

The Thai Baht is not a good way to measure the strength of a major currency. How the Euro is doing against the dollar compared to the pound is a lot more informative.

[CNXexpat]

2 minutes ago, vogie said:

You get pleasure from seeing other people suffering, that is sick.

The UK is suffering from the self chosen Brexit what, as the Brexiteers said, will make the UK great again. Now when the first problems arrive, the Brexiteers are crying and see that there are also negative sides of the Brexit (what everybody else saw before). Yes, that´s a kind of funny. 

[vogie]

1 minute ago, CNXexpat said:

The UK is suffering from the self chosen Brexit what, as the Brexiteers said, will make the UK great again. Now when the first problems arrive, the Brexiteers are crying and see that there are also negative sides of the Brexit (what everybody else saw before). Yes, that´s a kind of funny. 

If you want to pull the UK down there are still many Brexit threads to do so, this thread is not about Brexit. Why do you need reminding so often.

[Jip99]

3 minutes ago, CNXexpat said:

The UK is suffering from the self chosen Brexit what, as the Brexiteers said, will make the UK great again. Now when the first problems arrive, the Brexiteers are crying and see that there are also negative sides of the Brexit (what everybody else saw before). Yes, that´s a kind of funny. 

 

 

Cheap shot, Inaccurate - but predictable. This situation is NOTHING to do with Brexit. 

[vogie]

Just now, Jip99 said:

 

 

Cheap shot, Inaccurate - but predictable. This situation is NOTHING to do with Brexit. 

Snap.????

[bristolboy]

1 minute ago, vogie said:

If you want to pull the UK down there are still many Brexit threads to do so, this thread is not about Brexit. Why do you need reminding so often.

But it is about the sharp fall in the value of the pound. Ya think Brexit is irrelevant to that?

[Jip99]

2 minutes ago, vogie said:

Snap.????

 

 

These creeps have been quiet for a while. 

 

 

They will crawl out of the woodwork and whine for a couple of weeks.......................... they must have been missing that.

[riclag]

1 hour ago, URMySunshine said:

Sadly for the UK folk are clamouring for dollars and there is a wall of money looking for the relative safety of the baht whether real or imagined. The absolutely huge amounts of money we throw at the problem will lead to further currency depreciation whereas Thailand will spend as little as possible because in Thailand life is cheap in the UK thankfully not. I have considerable savings here and I expect moving forward to lose a great deal of them when we try to patch the economy up after the 'war'. Which is only right and fair in the end. Bank runs will be the next thing to happen. 

Bank runs! How safe is the mandatory 400k marriage  or 800k retirement in a BKK account?

Edited March 19, 2020 by riclag

[saengd]

4 minutes ago, riclag said:

Bank runs! How safe is the mandatory 400k marriage  or 800k retirement in a BKK account?

OH please, Thai bank credit ratings are higher than many western banks, the tier 2 capital adequacy ratio is also higher. And deposits in Thai banks are insured, beyond June this year, up to 1 million per account.

Edited March 19, 2020 by saengd

[riclag]

2 minutes ago, saengd said:

OH please, Thai bank credit ratings are higher than many western banks, the tier 2 capital adequacy ratio is also higher.

I just asked the poster his opinion I wasn't making a statement! (Bank Runs)

Edited March 19, 2020 by riclag

[Dumbastheycome]

6 hours ago, sanemax said:

No, there will be no difference at all 

The NHS was never "partnered" with European NHS's whilst we were in the EU , so, no difference at all 

But it was/is partnered to the EU unit on  epidemiological monitoring systems. The UK has already declined an EU suggestion it remains !

[bristolboy]

1 minute ago, Dumbastheycome said:

But it was/is partnered to the EU unit on  epidemiological monitoring systems. The UK has already declined an EU suggestion it remains !

He originally claimed it wasn't partnered with the EU then he said it is. But that refusal does show how Brexit extremism can lead to self-defeating bloodymindedness. Analagous to Trump's attitude toward the CDC.

[URMySunshine]

40 minutes ago, riclag said:

Bank runs! How safe is the mandatory 400k marriage  or 800k retirement in a BKK account?

Everybody needs to make their own call about potential systemic failure to the system - very  hard to defend wealth under these extreme circumstances and gold is falling as a lot sell to get fiat. I imagine thousands of bar girls are cashing in their jewellery now. After the dust settles I could see farang bank accounts being a low hanging fruit as the junta wishes to try save their own skins and bail out a bankrupt poor. 

 

https://www.wsj.com/articles/some-bank-branches-run-low-on-cash-as-customers-make-big-withdrawals-11584568519

Edited March 19, 2020 by URMySunshine

[Rookiescot]

The thing is this is just the initial short term pain that the Brexiteers told us might, possibly, probably wouldn't happen.

Yes the economy is contracting at an alarming rate never seen before even in wartime.

Yes the pound is in a tailspin and heading for parity with the Zimbabwean Dollar but lets not take our eyes off the prize guys.

Blue passports!

Actually they might have been black because no-one seems to be sure what colour they were but that's not important right now.

 

Yes blue passports. When we all have these all we need do is hold them forth and say "By the power of the blue passport I command all economic woes to be gone and descend into the abyss."

"The power of Boris compels you!"

 

Then we will be fine. Its only because some of you guys dont believe in the purity of Brexit that we are having this problem.