Pound/Baht

[SheungWan]

The pound seems to be on the up ,will it last?

Seemingly we are going to be blessed with questions like these. Long may it 'er, last.

well ,answer us ,come on ,wakey wakey.

ps where is Naam when you need him?

I'm sure you will have noted that the pound is now 25% above the 44 level where a.n.other predicted Sterling's further demise. Me? I would take the 55 so that implies not much further in the way of uptick.

[RAZZELL]

a Pound will always be half a Kilogram. never a fart-thing more, never a fart-thing less. wishful thinkers are allowed the thought "one Pound = 500 grams" and the dreamers have my permission to salivate over "one Pound = 500,000 milligrams, UK rules down with the €U!" as this causes no harm.

Very sensible

55.6 at Superrich.

RAZZ

[chiang mai]

I just read this and had to smile, the headline is:

Strong services sector growth keeps economy 'firing on all cylinders' Employment growth at record high, suggesting UK economy on course to record another strong quarter of growth

The detail however was this:

"Although the Markit/CIPS headline services PMI eased (that means it fell) to 57.7 in June, from May's reading of 58.6 and against economists' expectations of 58.3, it was still well above the 50 level that divides growth from contraction".

From here:

http://www.telegraph.co.uk/finance/

An ever strengthening Pound, punters get their cheap(er) annual hols overseas so why not vote blue.

Election party campaigning and undue influence on press reporting via Levenson is rampant and well OTT,

Edited July 3, 2014 by chiang mai

[i claudius]

I just read this and had to smile, the headline is:

Strong services sector growth keeps economy 'firing on all cylinders' Employment growth at record high, suggesting UK economy on course to record another strong quarter of growth

The detail however was this:

"Although the Markit/CIPS headline services PMI eased (that means it fell) to 57.7 in June, from May's reading of 58.6 and against economists' expectations of 58.3, it was still well above the 50 level that divides growth from contraction".

From here:

http://www.telegraph.co.uk/finance/

An ever strengthening Pound, punters get their cheap(er) annual hols overseas so why not vote blue.

Election party campaigning and undue influence on press reporting via Levenson is rampant and well OTT,

I have to bring over a load more pounds soon ,so "frankly my dear,i don't give a damn" just as long as the pound rises ,who cares how?

[johnnybgood]

Ha ha ha ha .

Anybody else laughing today?

[Naam]

Ha ha ha ha .

Anybody else laughing today?

where's the joke?

[mccw]

5555

Hahahaha

[AnotherOneAmerican]

What happened today?

[SheungWan]

What happened today?

Both the pound and the baht were more stable than the Brazilian defence.

[chiang mai]

What happened today?

Weaker than expected UK manufacturing and industrial production figures combined with Fed minutes confirming the end of QE in October, the markets took the latter as a USD strength and the former as UK weakness.

[meatboy]

Ha ha ha ha .

Anybody else laughing today?

if it stays at 50 to oct.2014 I will be laughing for the next 12months.or 49.

[meatboy]

that looks like a news clip from the 70's.

[i claudius]

that looks like a news clip from the 70's.

If Labour get in ,it will be back to the 70's Red Ken will rule not Millipondlife.

[chiang mai]

The question is, GBP/THB is off its high, did people exchange (as SW hinted they might want to do so) or did they hold off in anticipation of an even better rate?

[meatboy]

The question is, GBP/THB is off its high, did people exchange (as SW hinted they might want to do so) or did they hold off in anticipation of an even better rate?

as I have always said set your stall out,dont be greedy and be happy for small mercies.LONG LIVE THE 50'S

[AnotherOneAmerican]

"""

Up to two million public sector workers may strike today, threatening major disruption to schools and other services, according to union leaders.

Teachers, refuse collectors, firefighters, home helps and librarians are all expected to walk out over pay, pensions and spending cuts, unions say.

Also expected to strike are dinner ladies, parks attendants, council road safety officers, caretakers and cleaners, as well as civil servants.

The walkout threatens major disruption at schools and other council buildings, including courts and leisure centres. Household bins may also remain unemptied.

According to the NUT, more than 200,000 teachers could take part in the action.

Cameron Wants Ballot Threshold

Picket lines will be mounted outside courts, council offices, Jobcentres, fire stations and Parliament in outpourings of anger over the coalition's public sector policies.

The TUC said public sector workers are £2,200 worse off under the Government, while half a million council employees earn less than the living wage.

But the strike has sparked another pledge by David Cameron to change employment laws after it emerged the NUT strike ballot saw just 27% of members taking part.

Senior Conservatives and business leaders have been pressing for a new law, setting out a 50% threshold in ballots.

While union leaders say up to two million workers could take part in the action, ministers say they believe most staff will go to work as usual.

""

Sky news app

The government should enforce the same rules for union ballots as electoral ballots.

If they want a ballot to reach 50% participation before it is effective, then so be it.

Local, district council, county council and parliamentary elections, 50% turn out required on each individual ballot, or no result.

How long do you think that would last?

Edited July 10, 2014 by AnotherOneAmerican

[chiang mai]

You're American, why would you care?

[i claudius]

You're American, why would you care?

Chiang Mai

as the glass always seems half empty to you ,why do you care?

[chiang mai]

I don't, I'm only interested in the DEBATE surrounding the economic factors of the SUBJECT, GBP/THB, neither of which you seem understand or want to learn about. Now go away before I call Naam to give you another hiding.

[mccw]

I think 50% is a good idea

[mccw]

Voting in general elections should be compulsory

[i claudius]

I don't, I'm only interested in the DEBATE surrounding the economic factors of the SUBJECT, GBP/THB, neither of which you seem understand or want to learn about. Now go away before I call Naam to give you another hiding.

Oh hear we go ,you and Naam should get married ,the pair of you are silly old boys who add nothing but can only snipe at people ,grow up and add something that is not your attempt at a put down

Edited July 10, 2014 by i claudius

[Naam]

I don't, I'm only interested in the DEBATE surrounding the economic factors of the SUBJECT, GBP/THB, neither of which you seem understand or want to learn about. Now go away before I call Naam to give you another hiding.

Oh hear we go ,you and Naam should get married ,the pair of you are silly old boys who add nothing but can only snipe at people ,grow up and add something that is not your attempt at a put down

Naam is married since nov 9, 1979 but neither made tons of black money in Thailand nor does he know where to hide it... unlike 65 year olds who pretend to be young emperors but are most interested how many Baht a Pound buys.

[AnotherOneAmerican]

You're American, why would you care?

Democracy is important all over the world.

Governments often try to overturn democracy by imposing rules on their electorate which they couldn't (or wouldn't) follow themselves.

If people don't think carefully about their government, they will lose their democracy.

[mccw]

You're American, why would you care?

Democracy is important all over the world.

Governments often try to overturn democracy by imposing rules on their electorate which they couldn't (or wouldn't) follow themselves.

If people don't think carefully about their government, they will lose their democracy.

You mean like America already lost it?

[chiang mai]

You're American, why would you care?

Democracy is important all over the world.

Governments often try to overturn democracy by imposing rules on their electorate which they couldn't (or wouldn't) follow themselves.

If people don't think carefully about their government, they will lose their democracy.

Democracy is not everything it's hyped up to be and it's certainly not suitable for everyone, but that's a different subject, can we get back to more directly related GBP/THB issues. please. You asked the question, what happened yesterday and I replied, my following question stands, which seems to be making at least one poster slightly agitated, perhaps it's the long words!

[Naam]

You're American, why would you care?

it all depends on ze zircumstantses. i am a Tcherman and kared a lot vhat ze Pound was doing vhen i held exklusifely GBP for more zan a dekade.

in zose times ze Pound made me verry happy

[chiang mai]

54.72 at Krungsri, ouch for those that waited, maybe next week will improve matters but I doubt it.

Edited July 11, 2014 by Tywais
Fixed oversize image

[chiang mai]

An interesting piece on GBP/USD over the years, with pictures too!

http://www.telegraph.co.uk/finance/currency/10962366/Pound-claws-back-half-of-its-losses-since-financial-crisis.html

[chiang mai]

This is a real quandary, market expectations are increasingly looking for UK interest rates to rise sooner rather than later, Invariably that means an even stronger Pound. The following chart shows how market predictions for a rate rise have changed over time:

But as the Pound strengthens so the Trade deficit widens, it unexpectedly grew to £2.4bn in May:

http://www.telegraph.co.uk/finance/economics/10959816/UK-trade-deficit-widens-in-May.html

..and UK companies and exports get hurt:

http://www.telegraph.co.uk/finance/currency/10960395/Strong-pound-is-hurting-British-companies.html

Remember, the current recovery is consumer led and governments stated objective is to shift away from consumer spending by doubling the value of exports, how do you do that I wonder! This man said this about it all:

"Looking forward, we doubt that the export picture will brighten significantly, at least in the near-term. The recovery in the eurozone economy, the UK's largest single export market, is running at only a very modest pace."And the continued appreciation of sterling, with the pound now at a near six-year high against the dollar, will damage UK exporters' cost competitiveness," he said. "Meanwhile, robust rates of growth in UK consumer spending and investment are likely to translate into a further pick-up in import growth. Overall, the UK economy's expansion looks set to remain a largely domestic affair."

http://www.theguardian.com/business/2014/jul/10/uk-trade-deficit-imports-exports

So what does all this mean and how is it relevant to GBP/THB. If the UK economic recovery is to be based on increased exports, the Pound remains too strong for that to be a workable strategy, And since interest rates are almost certainly going to rise that means that consumer spending will take a hit, the only sensible answer being that the Pound must be weakened. Or did I miss something?