How low will the £ go?

[brewsterbudgen]

As I'm writing this (10.10 on 8 Sept, Thai time) the UK pound has slipped below 42 baht (41.9455).

 

Will it continue falling?  Should I transfer £ now, or wait?

 

Any expert advice?

[ivor bigun]

yes it could go up a little ,or down a lot ,seen it before almost immposible to know.

[theoldgit]

I think the GBP is only that value because the THB is also relatively weak, but it would seem not as weak as Sterling.

 

I think we’re in for a bumpy ride.

[peterfranks]

Tories, the gift that keeps giving. LOL

[Kwasaki]

Whatever the £ is at the moment its the lowest it's been against the $ for many years, the £ is still not the lowest it's been against the Baht. 

If I need money from UK I  just get what I need. 

[Cake Monster]

4 minutes ago, Kwasaki said:

Whatever the £ is at the moment its the lowest it's been against the $ for many years, the £ is still not the lowest it's been against the Baht. 

If I need money from UK I  just get what I need. 

Transfer just the amount you really need when the rate is poor, as it is now.

Good advice, and something that I have been doing for a while now due to poor rates.

I can feel the Pound sliding to about 41 within the next 4 weeks or so

[Rmac442]

Simple really ..if the $ is strong, which currently is very strong, so also will be the Thai BAHT .. £ currently down from ¢1.30 to $1.15 ..Euro even worst !!

[Mac Mickmanus]

Been on the U.K news that the Pound is likely to further against the U.S $ , think it was because of U.S interest rates 

[peterfranks]

5 minutes ago, Mac Mickmanus said:

Been on the U.K news that the Pound is likely to further against the U.S $ , think it was because of U.S interest rates 

Or maybe it's because of this?

 

[Chris.B]

"As I'm writing this (10.10 on 8 Sept, Thai time) the UK pound has slipped below 42 baht (41.9455).

Will it continue falling?  Should I transfer £ now, or wait?"

 

You should have done it yesterday,

 

[Henryford]

Liz is printing another 200 billion of monopoly money. She is just starting, expect it to drop below 40.

[Phnom Penh Trader]

You have to look at the fundamentals the UK and Eurozone are heading into recession due to the war in Ukraine,throw in the energy crisis and death of ‘The Queen’ and the picture is less than rosy for Cable/GBP in short don’t make any big transfers for the foreseeable future?

[Phnom Penh Trader]

Just now, Phnom Penh Trader said:

You have to look at the fundamentals the UK and Eurozone are heading into recession due to the war in Ukraine,throw in the energy crisis and death of ‘The Queen’ and the picture is less than rosy for Cable/GBP in short don’t make any big transfers for the foreseeable future?

Btw I’m a currency trader by trade so anyone wants to talk Elliott Waves,Bollinger Bands and Fibonaccci Retracements be my guest.

[Kwasaki]

2 hours ago, Henryford said:

Liz is printing another 200 billion of monopoly money. She is just starting, expect it to drop below 40.

The £ when up Friday. 

[sanuk711]

On 9/8/2022 at 10:10 AM, brewsterbudgen said:

Any expert advice?

Do you not read - webfact or the "Thai whiners incorporated" posts . brewsterburdgen?

 

Thailand's had it--the Baht collapsing --country is well on its way to bankruptcy--its no more then a day away from collapse ,

No one wants to come here-- It cant be long now, just hang onto your £ --its solid not like the dropping Baht.

 

The money people in the know here cant be wrong......

[shackleton]

Most money experts have predicted the pound will fall in the coming days / weeks ect

I have just done a transfer last Thursday  arrived here Friday 

To cover the next 3 months  bank rate here 41.12 baht

The bank in the UK wanted to transfer at 40.43 baht

I always transfer in Sterling no bank charges  here on arrival 

If you transfer in Baht the bank will charge 500 baht on arrival 

[KannikaP]

On 9/8/2022 at 10:51 AM, theoldgit said:

I think the GBP is only that value because the THB is also relatively weak, but it would seem not as weak as Sterling.

 

I think we’re in for a bumpy ride.

Surely if the GBP is down on the THB, it means the THB is STRONGER not weaker.

[bkk6060]

It will be lower then a US dollar soon just like the Euro.

The UK seems like a failed inflated country economically, no good news at all.  People in Thailand from the UK should be thankful how lucky they are to be here.  And, the UK government is are going to supplement everyone's energy bills?  Good luck, a huge disaster with much worse probably to come.

[Kwasaki]

1 hour ago, shackleton said:

Most money experts have predicted the pound will fall in the coming days / weeks ect

I have just done a transfer last Thursday  arrived here Friday 

To cover the next 3 months  bank rate here 41.12 baht

The bank in the UK wanted to transfer at 40.43 baht

I always transfer in Sterling no bank charges  here on arrival 

If you transfer in Baht the bank will charge 500 baht on arrival 

why don't you use "Wise".

[theoldgit]

5 hours ago, KannikaP said:

Surely if the GBP is down on the THB, it means the THB is STRONGER not weaker.

As I said, the THB is weaker against many currencies, but stronger against against Sterling.

[Chivas]

On 9/10/2022 at 4:23 AM, Phnom Penh Trader said:

You have to look at the fundamentals the UK and Eurozone are heading into recession due to the war in Ukraine,throw in the energy crisis and death of ‘The Queen’ and the picture is less than rosy for Cable/GBP in short don’t make any big transfers for the foreseeable future?

Not often we hear the term Cable these days !

For anyone who doesnt know what it means (which will be 99.9% lol) google up why Sterling/Dollar is known as Cable

The answer is surprisingly obvious !

[Chivas]

Returning to the OP its not the Baht thats the problem which is very weak currently compared to the last 5 years but quite simply Cable

 

Catastrophic Governance by the Tories are the sole issue

[Chivas]

On 9/10/2022 at 11:44 AM, theoldgit said:

As I said, the THB is weaker against many currencies, but stronger against against Sterling.

What are you talking about lol

 

The baht takes its "fix" 24/7 off the USD Dollar

 

Thats one side of the currency pairing....the other side is Sterling/Dollar which is where the problem 100% currently lays

 

If Dollar/Baht wasn't so weak (compared to the last 5 years) at 36.77 and was in fact bouncing around 32 Sterling/Baht would be at 36.8 rather than the 42.34 it is now in real time

 

The baht is WEAK currently reference the only currency that matters namely the USD

 

Cable is the sole problem for Brits

[KannikaP]

On 9/8/2022 at 12:00 PM, Cake Monster said:

Transfer just the amount you really need when the rate is poor, as it is now.

Good advice, and something that I have been doing for a while now due to poor rates.

I can feel the Pound sliding to about 41 within the next 4 weeks or so

Many guys really need just 65k per month.

[Bruno123]

On 9/10/2022 at 5:53 AM, shackleton said:

Most money experts have predicted the pound will fall in the coming days / weeks ect

I have just done a transfer last Thursday  arrived here Friday 

To cover the next 3 months  bank rate here 41.12 baht

The bank in the UK wanted to transfer at 40.43 baht

I always transfer in Sterling no bank charges  here on arrival 

If you transfer in Baht the bank will charge 500 baht on arrival 

This is nonsense.

Transfer in Sterling and you get the local bank's TT rate and a 0.25% charge up to 500 baht.

Transfer in baht and you get the U.K. bank's exchange rate. Whether there is another charge on arrival is unknown to me.

 

Better to use WISE; their rate today 42.4189. Transferring £1000, after fees, would net you an exchange rate of 42.14. So that's around a one baht loss for every £1 you exchanged.....or perhaps you would prefer one baht gained for every £1 you transfer using WISE.

[owl sees all]

On 9/8/2022 at 11:53 AM, Kwasaki said:

Whatever the £ is at the moment its the lowest it's been against the $ for many years, the £ is still not the lowest it's been against the Baht. 

If I need money from UK I  just get what I need. 

Get the lot over before the £ really goes down the tubes. Transfer it all and buy gold.

 

I think the Euro will suffer more. Down to 25 baht. As for the £. 35 is a'coming.

[owl sees all]

On 9/10/2022 at 4:23 AM, Phnom Penh Trader said:

You have to look at the fundamentals the UK and Eurozone are heading into recession due to the war in Ukraine,throw in the energy crisis and death of ‘The Queen’ and the picture is less than rosy for Cable/GBP in short don’t make any big transfers for the foreseeable future?

IMO, this is worth debate.

 

For a start off, the war in Ukraine is a conflict. If it does become a proper war - heavy stuff being fired into both Ukraine and Russia - then only gold and silver will be a haven for ordinary people. If the war then escalated to include NATO then most currencies will collapse. Including the $.

 

The UK started money printing big-time in the second quarter of 2020. But the £ has been under pressure since June 2016. The big problem being that the people decided to leave the Euro Club, and the establishment didn't like it.

 

The Queen has a replacement in Charles. He seems aligned with the WEF, and wants global warming action. Other stuff too; but beyond the scope of this post. Whether he will push through his beliefs - unlike his mother who used very soft persuasion - in a high-profile way, waits to be seen.

 

The way out of this downward spiral for the UK is growth and international trade. Can't see any prospect of either at the present, given its stance on quite a few things.

[ukrules]

On 9/8/2022 at 6:59 PM, Rmac442 said:

Simple really ..if the $ is strong, which currently is very strong, so also will be the Thai BAHT .. £ currently down from ¢1.30 to $1.15 ..Euro even worst !!

Yes, this is nothing to do with the pound itself, it's all about the dollar.

[Kwasaki]

42 minutes ago, owl sees all said:

Get the lot over before the £ really goes down the tubes. Transfer it all and buy gold.

 

I think the Euro will suffer more. Down to 25 baht. As for the £. 35 is a'coming.

My private pensions are monthly so can get money if I want monthly as for transfer it all those days of having saving in UK are long gone. ????

[Kwasaki]

1 hour ago, KannikaP said:

Many guys really need just 65k per month.

That's where the good value live here thread come in,  I only need 15k per month most the time. ????????

 

Edited September 15, 2022 by Kwasaki