UK Pound v Thai Baht and other currencies

[superal]

I have not read anywhere recently about the performance of the GBP against other currencies but most importantly for me , the Thai baht .   It seems that every day the pound is strengthening against the baht , today at 10 00 am 1 gbp = 42.25 baht and the months forecast is for a similar trend , also against the US dollar 1.48 $ to the £

Any TVF currency gurus know why ?

[fangless]

BREXIT and COVID Vaccinations!

[worgeordie]

It's slowly getting back to where it was before brexit,

some good news for a change.

regards worgeordie

[BritManToo]

32 minutes ago, fangless said:

BREXIT and COVID Vaccinations!

Yep, Brexit has allowed the UK to start vaccinating all it's citizens now, while Europe is still mired in red tape.

Project fear has failed.

Edited February 23, 2021 by BritManToo

[darksidedog]

It's all of the above mentioned, combined with the pound falling into very negative territory with the uncertainty of the deal/no deal exit. The uncertainty has gone, which combined with the vaccines and subsequent release from lockdown paints a rosy picture for the UK economy. For once.

I had been ooming and aahing over whether to send more money here, but I am waiting, as I don't really need it and I believe it will rise quite a bit more before I do.

[SooKee]

I just hope it doesn't go crashing back down again like it's done with every other recovery 'blip' over the last couple of years.  Up from 39 to 40 (great!) only to drop to 38 days later ????

[RichardColeman]

Whoop, whoop, whoop ! Go pound !!!

 

That said , it seems to go up 10-15% against the dollar and 1% against the baht !

[Golden Triangle]

I hope that all you guys enthusiasm doesn't put the mockers on it ???? £££££££££££££££

[Moonlover]

16 minutes ago, SooKee said:

I just hope it doesn't go crashing back down again like it's done with every other recovery 'blip' over the last couple of years.  Up from 39 to 40 (great!) only to drop to 38 days later ????

What you're describing are ripples, not trends.

 

The trend is definitely up now for the pound. I think the BREXIT jitters are beginning to fade.

 

https://www.xe.com/currencycharts/?from=GBP&to=THB

[SooKee]

2 minutes ago, Moonlover said:

What you're describing are ripples, not trends.

 

The trend is definitely up now for the pound. I think the BREXIT jitters are beginning to fade.

 

https://www.xe.com/currencycharts/?from=GBP&to=THB

 

Whatever description we choose to assign to it the pound has barely risen above 40 for a long time.  Only time will tell is this is a trend and not a longer lifespan ripple, maybe a 'tripple'.

[Moonlover]

5 minutes ago, SooKee said:

 

Whatever description we choose to assign to it the pound has barely risen above 40 for a long time.  Only time will tell is this is a trend and not a longer lifespan ripple, maybe a 'tripple'.

There's been a few hic-ups, but generally it's been rising for a year now. It's a good sign IMO.

[treetops]

1 hour ago, superal said:

also against the US dollar 1.48 $ to the £

 

That would be good, but a trifle optimistic for now I think.

[foreverlomsak]

12 minutes ago, treetops said:

 

That would be good, but a trifle optimistic for now I think.

Transferwise has a rate of 1.408 at the time of writing, it'll get there give it a chance.

[douglasspade]

When GBP/USD pushes through 1.435, I would call it a comeback. For now GBP/THB are edging on a major weekly resistance at 42.290-  held since 2018/11/12, that is 800 odd days. Pushing bullish and holding that price, it could push for the next major resistance of 45.200 - witch was the support of the 2016 selloff.

 

The Dollar is on the three-year low against the British Pound due to boosted risk sentiment, because of the current covid progress in the US (also fueled by change of Presidency). Although the Thai Baht is performing remarkably well 'in range' against the Dollar, it always perform in sequence with the Dollar against European markets. The Baht is not a US pegged market since 1997, but trade sentiment is such a dishonorable thing ????????????!

[superal]

1 hour ago, foreverlomsak said:

Transferwise has a rate of 1.408 at the time of writing, it'll get there give it a chance.

Sorry , I missed a 0 and it is now 1.408 ( not 1.48 )  and climbing , nice to see you are paying attention 

[scubascuba3]

2 hours ago, Moonlover said:

There's been a few hic-ups, but generally it's been rising for a year now. It's a good sign IMO.

Mainly the last 2-3 weeks, you can see it out performing Euro and USD easily 

[foreverlomsak]

49 minutes ago, superal said:

Sorry , I missed a 0 and it is now 1.408 ( not 1.48 )  and climbing , nice to see you are paying attention 

always, but don't necessarily respond

[Moonlover]

4 hours ago, treetops said:

5 hours ago, superal said:

also against the US dollar 1.48 $ to the £

 

4 hours ago, treetops said:

 

That would be good, but a trifle optimistic for now I think.

This might sound a bit over simplistic, but if a currency rises, it rises against all other currencies. The only exception would be a currency that happened to rise at the same time. 

 

If you look at the GBP-THB graph and then the GBP-USD graph on the XE site I posted above, you'll see they both roughly follow the same trend.

 

That's the way to check to see whether it's your currency that's moving up, or it's the Thai Baht that's moving down.

 

Edited February 23, 2021 by Moonlover

[anchadian]

And still rising this morning.

[jesimps]

15 hours ago, douglasspade said:

When GBP/USD pushes through 1.435, I would call it a comeback. For now GBP/THB are edging on a major weekly resistance at 42.290-  held since 2018/11/12, that is 800 odd days. Pushing bullish and holding that price, it could push for the next major resistance of 45.200 - witch was the support of the 2016 selloff.

 

The Dollar is on the three-year low against the British Pound due to boosted risk sentiment, because of the current covid progress in the US (also fueled by change of Presidency). Although the Thai Baht is performing remarkably well 'in range' against the Dollar, it always perform in sequence with the Dollar against European markets. The Baht is not a US pegged market since 1997, but trade sentiment is such a dishonorable thing ????????????!

I'm surprised the dollar hasn't dropped further in view of the ultra left-wing Democrats now holding power. Given time, it'll probably bomb.

[KarenBravo]

12 minutes ago, jesimps said:

I'm surprised the dollar hasn't dropped further in view of the ultra left-wing Democrats now holding power. Given time, it'll probably bomb.

 

This is something most US citizens don't know but, most Europeans do.

There is no left wing political party in the USA. You have a right-wing party that seems to be constantly moving further to the right and you have a centre-right party.

 

If you support the right-wing party and consider it mainstream, then I can see how you would make the assumption that the other party is extreme left-wing..........except it isn't.

[IvorBiggun2]

16 hours ago, foreverlomsak said:

Transferwise

Now renamed 'Wise'.

[rosst]

18 hours ago, treetops said:

 

That would be good, but a trifle optimistic for now I think.

My AUD is buying USD at a reasonable price

And Philippines Peso rate is 38 up from 35

[shackleton]

Yes good news if the pound can stay at about $1.40-45 range and the 

Baht 42-45 this year

Once the vaccination of all  the British people has been carried out plus people return to work

The sky is the limit on the Pound 

[Tapster]

I'm not an economist, but I have been watching the fundamentals underlying the UK and Thai economies lately. 

 

I don't understand the Thai economy as well as I do that of the UK, but it's fairly clear that neither economy has recently experienced anything that one could call an upturn. 

 

The UK economy has recently reported the worst performance in many years and Brexit is proving to be much more expensive than forecast, with greater barriers to trade than were promised. 

 

Thailand of course is suffering greatly through lack of tourist income, though I recently learned that the latter is only 10-15% of the country's income. 

 

In short, this is likely to be a blip, rather than a lasting trend. We've just sold our house in Phuket and I'm happy not to panic and transfer the money to the UK. 

 

We'll see! 

[Jonnapat]

21 hours ago, worgeordie said:

It's slowly getting back to where it was before brexit,

some good news for a change.

regards worgeordie

The week before Brexit it was around 54 baht, so it has a hell of a long way to go yet.

[scubascuba3]

6 minutes ago, Jonnapat said:

The week before Brexit it was around 54 baht, so it has a hell of a long way to go yet.

Someone had to put a negative spin on it. Up again today, out performing euro

[KannikaP]

3 hours ago, IvorBiggun2 said:

Now renamed 'Wise'.

So now you've no idea what business they are in or what they do. At least TRANSFERwise gave you a heads up.

[Kwasaki]

My pension is paid into my Thai bank this Thursday a little bonus for now is good. 

Want to get money over to but will see how it goes for another month. 

[Golden Triangle]

Isn't it strange how the passage of time changes people's perspectives, I remember how just after the Brexit vote the GBP tanked, and as it sank so did my heart, when it got down to about 38 I was more than a little concerned as to just how low it could go, nowadays I'm practically euphoric that it's at 42.50 ????

 

Fingers crossed ???????????????? that this is a gradual return to some sort of normality.