UK expats for EU exit

dick dasterdly · July 15, 2016

It's XE for me because it's easily available.

You want to use something else, up to you. I'm sticking to XE.

When you do a forex transfer, do you get the XE rate or something different?

More to the point, if you tranfer funds from the UK to pay a bill, or demonstrate that you meet the tequirements of an extention to your retirement visa, what does your creditor/immigration officer want to see.

A screenshot from an fx website or Bhat in your hand/account?

As a Brit., immigration need to see a proof of income statement from the Brit. Embassy when it comes to relying on proof of income.

jpinx · July 15, 2016

since I started that XE.com point I'll explain why -- it is for the purpose of watching the trends .. not for use by Joe Blogs who wants to transfer his pension to Siam Krung Bank. That rate he can find on their website.

jpinx · July 15, 2016

Has Brexit Secretary David Davis given any idea how he's going to broker a deal with 27 EU nations, each of whom hold a veto on any deal he tries to get signed?

Read his statement. It lays out how he intends dealing with things following the brexit vote.

His statement says what his intention is, it gives no clue as to how he is going to get there.

It's the 'No Clue' bit he needs to get over.

His statement made sense to me - but we all have our own opinions, only some of us prefer to state our opinions as 'fact'.

His statement made a lot of sense to anyone with an open mind. He gives indicators of how things will be progressed and a timescale. What he does not address is what happens if some countries want to veto what the UK does -- but then that is not necessary since UK will no longer be subjected to that nonsense once article 50 is enacted

dick dasterdly · July 15, 2016

since I started that XE.com point I'll explain why -- it is for the purpose of watching the trends .. not for use by Joe Blogs who wants to transfer his pension to Siam Krung Bank. That rate he can find on their website.

Are you saying that those of us who have pension income and transfer it to Thailand are unimportant - just "Joe Blogs"?

jpinx · July 15, 2016

since I started that XE.com point I'll explain why -- it is for the purpose of watching the trends .. not for use by Joe Blogs who wants to transfer his pension to Siam Krung Bank. That rate he can find on their website.

Are you saying that those of us who have pension income and transfer it to Thailand are unimportant - just "Joe Blogs"?

Did I mention how important or not Joe Blogs's transfer was/is ?

dick dasterdly · July 15, 2016

since I started that XE.com point I'll explain why -- it is for the purpose of watching the trends .. not for use by Joe Blogs who wants to transfer his pension to Siam Krung Bank. That rate he can find on their website.

Are you saying that those of us who have pension income and transfer it to Thailand are unimportant - just "Joe Blogs"?

Did I mention how important or not Joe Blogs's transfer was/is ?

Referring to people as "Joe Bloggs" is pretty dismissive.

jpinx · July 15, 2016

since I started that XE.com point I'll explain why -- it is for the purpose of watching the trends .. not for use by Joe Blogs who wants to transfer his pension to Siam Krung Bank. That rate he can find on their website.

Are you saying that those of us who have pension income and transfer it to Thailand are unimportant - just "Joe Blogs"?

Did I mention how important or not Joe Blogs's transfer was/is ?

Referring to people as "Joe Bloggs" is pretty dismissive.

It is a common enough way of referring to any normal individual - nothing dismissive about it. Maybe English is strange for some people sometimes.

Joe Bloggs - Wikipedia, the free encyclopedia

https://en.wikipedia.org/wiki/Joe_Bloggs

The names "Joe Bloggs" and "Fred Bloggs" are commonly used as placeholder names in the United Kingdom, Australia and New Zealand, for teaching, programming, and other thinking and writing.

Edited July 15, 2016 by jpinx

jpinx · July 15, 2016

It's XE for me because it's easily available.

You want to use something else, up to you. I'm sticking to XE.

When you do a forex transfer, do you get the XE rate or something different?

More to the point, if you tranfer funds from the UK to pay a bill, or demonstrate that you meet the tequirements of an extention to your retirement visa, what does your creditor/immigration officer want to see.

A screenshot from an fx website or Bhat in your hand/account?

Your creditor will want to see the money in his bank. Why would an immigration officer want to see anything?

dick dasterdly · July 15, 2016

Are you saying that those of us who have pension income and transfer it to Thailand are unimportant - just "Joe Blogs"?

Did I mention how important or not Joe Blogs's transfer was/is ?

Referring to people as "Joe Bloggs" is pretty dismissive.

It is a common enough way of referring to any normal individual - nothing dismissive about it. Maybe English is strange for some people sometimes.
Joe Bloggs - Wikipedia, the free encyclopedia
https://en.wikipedia.org/wiki/Joe_Bloggs

The names "Joe Bloggs" and "Fred Bloggs" are commonly used as placeholder names in the United Kingdom, Australia and New Zealand, for teaching, programming, and other thinking and writing.

There's no need to quote the English definition to me - I'm English, and know that quoting Joe Bloggs in the context you used is dismissive.

jpinx · July 15, 2016

Did I mention how important or not Joe Blogs's transfer was/is ?

Referring to people as "Joe Bloggs" is pretty dismissive.

It is a common enough way of referring to any normal individual - nothing dismissive about it. Maybe English is strange for some people sometimes.
Joe Bloggs - Wikipedia, the free encyclopedia
https://en.wikipedia.org/wiki/Joe_Bloggs

The names "Joe Bloggs" and "Fred Bloggs" are commonly used as placeholder names in the United Kingdom, Australia and New Zealand, for teaching, programming, and other thinking and writing.

There's no need to quote the English definition to me - I'm English, and know that quoting Joe Bloggs in the context you used is dismissive.

Personal perceptions sometimes get in the way of reality -- as is the case with many people when dealing with Brexit

jpinx · July 15, 2016

In other news - -it's nice to see the the new-found stability in UK politics has allowed the pound to climb back a bit...

=== a trend that is mirrored by the Baht =====

Edited July 15, 2016 by jpinx

jpinx · July 15, 2016

long-term and short-term -- explanations not needed for anyone with any experience of graphs

Though an understanding of the impact of exchange rates on foreign currency asset values might help.

Seriously??? Maybe some references as to how FTSE and the market works will illuminate the readers here who wish to pursue the discussion...

https://en.wikipedia.org/wiki/FTSE_100_Index

".......FTSE, or, informally, the "Footsie" /ˈfʊtsi/, is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalization. It is seen as a gauge of prosperity for businesses regulated by UK company law. The index is maintained by the FTSE Group, a subsidiary of the London Stock Exchange Group............"

http://www.ftse.com/products/indices/uk

"...... FTSE 100 Index (UKX) - comprises the 100 most highly capitalised blue chip companies listed on London Stock Exchange....."

http://www.londonstockexchange.com/prices-and-markets/markets/prices.htm

... for the current market.

This has nothing to do with any currency fluctuations. Ask any qualified broker.... I'm done with researching for folks in here -- do your own leg-work and prove your postings with valid references

I'm not sure of whether it's a case that you don't understand or that you're simply and dogmatically fighting a corner in spite of fact but this matter is really quite simple:

"all companies listed on the LSE and eligible for the FTSE UK indices are ranked in order of their size, or market capitalisation (calculated by multiplying the number of issued shares of a company and the current share price)."

Where share or assets are issued in USD on the US markets, those assets must to revalued and marked to market to reflect their true value on the FTSE. So a company such as BAT for example is headquartered in the UK but has listings on the FTSE and on the SA and US exchanges, in local currencies, those foreign currencies are a part of BAT's balance sheet. If you want to see the impact of this first hand, look at the BAT web site which shows their share price on all three exchanges and see how their share value jumped significantly on the UK exchange but remained static on the US exchange. Why did that happen? Because a substantial part of BAT's income is generated in USD plus BAT shares on the US exchange, a part of BAT's balance sheet, are denominated in USD. None of those things had any impact on the US share price but had a huge impact on the UK price, because of the currencies involved.

http://www.bat.com/group/sites/UK__9D9KCY.nsf/vwPagesWebLive/DO52AJTV

Please apply your explanation to the plots of the last years movements of the FTSE and Sterling/US$ -- specifically the FTSE fall in Aug/Sep 2015 and the rise in Feb-Apr 2106 during which time the currencies had no such dramatic changes.

rwdrwdrwd · July 15, 2016

Come on.. just because there is a relationship does not mean it is a 1:1 relationship.

https://www.theguardian.com/business/2015/aug/28/share-prices-close-week-black-monday-china-oil-price

chiang mai · July 15, 2016

Though an understanding of the impact of exchange rates on foreign currency asset values might help.

Seriously??? Maybe some references as to how FTSE and the market works will illuminate the readers here who wish to pursue the discussion...

https://en.wikipedia.org/wiki/FTSE_100_Index

".......FTSE, or, informally, the "Footsie" /ˈfʊtsi/, is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalization. It is seen as a gauge of prosperity for businesses regulated by UK company law. The index is maintained by the FTSE Group, a subsidiary of the London Stock Exchange Group............"

http://www.ftse.com/products/indices/uk

"...... FTSE 100 Index (UKX) - comprises the 100 most highly capitalised blue chip companies listed on London Stock Exchange....."

http://www.londonstockexchange.com/prices-and-markets/markets/prices.htm

... for the current market.

This has nothing to do with any currency fluctuations. Ask any qualified broker.... I'm done with researching for folks in here -- do your own leg-work and prove your postings with valid references

I'm not sure of whether it's a case that you don't understand or that you're simply and dogmatically fighting a corner in spite of fact but this matter is really quite simple:

"all companies listed on the LSE and eligible for the FTSE UK indices are ranked in order of their size, or market capitalisation (calculated by multiplying the number of issued shares of a company and the current share price)."

Where share or assets are issued in USD on the US markets, those assets must to revalued and marked to market to reflect their true value on the FTSE. So a company such as BAT for example is headquartered in the UK but has listings on the FTSE and on the SA and US exchanges, in local currencies, those foreign currencies are a part of BAT's balance sheet. If you want to see the impact of this first hand, look at the BAT web site which shows their share price on all three exchanges and see how their share value jumped significantly on the UK exchange but remained static on the US exchange. Why did that happen? Because a substantial part of BAT's income is generated in USD plus BAT shares on the US exchange, a part of BAT's balance sheet, are denominated in USD. None of those things had any impact on the US share price but had a huge impact on the UK price, because of the currencies involved.

http://www.bat.com/group/sites/UK__9D9KCY.nsf/vwPagesWebLive/DO52AJTV

Please apply your explanation to the plots of the last years movements of the FTSE and Sterling/US$ -- specifically the FTSE fall in Aug/Sep 2015 and the rise in Feb-Apr 2106 during which time the currencies had no such dramatic changes.

Screenshot-99.png

You really don't get it do you! The FTSE rises and falls for reasons other than currency fluctuations and forex issues, just because there is a fall or rise in the FTSE does not mean there must be a corresponding rise or fall in the GBP/USD relationship. For example, a UK company(ies) may report better than expected earnings, mergers, acquisitions etc., ask yourself, why do shares rise and fall in the course of a normal week and you have your answer.

Edited July 15, 2016 by chiang mai

jpinx · July 15, 2016

Seriously??? Maybe some references as to how FTSE and the market works will illuminate the readers here who wish to pursue the discussion...

https://en.wikipedia.org/wiki/FTSE_100_Index

".......FTSE, or, informally, the "Footsie" /ˈfʊtsi/, is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalization. It is seen as a gauge of prosperity for businesses regulated by UK company law. The index is maintained by the FTSE Group, a subsidiary of the London Stock Exchange Group............"

http://www.ftse.com/products/indices/uk

"...... FTSE 100 Index (UKX) - comprises the 100 most highly capitalised blue chip companies listed on London Stock Exchange....."

http://www.londonstockexchange.com/prices-and-markets/markets/prices.htm

... for the current market.

This has nothing to do with any currency fluctuations. Ask any qualified broker.... I'm done with researching for folks in here -- do your own leg-work and prove your postings with valid references

I'm not sure of whether it's a case that you don't understand or that you're simply and dogmatically fighting a corner in spite of fact but this matter is really quite simple:

"all companies listed on the LSE and eligible for the FTSE UK indices are ranked in order of their size, or market capitalisation (calculated by multiplying the number of issued shares of a company and the current share price)."

Where share or assets are issued in USD on the US markets, those assets must to revalued and marked to market to reflect their true value on the FTSE. So a company such as BAT for example is headquartered in the UK but has listings on the FTSE and on the SA and US exchanges, in local currencies, those foreign currencies are a part of BAT's balance sheet. If you want to see the impact of this first hand, look at the BAT web site which shows their share price on all three exchanges and see how their share value jumped significantly on the UK exchange but remained static on the US exchange. Why did that happen? Because a substantial part of BAT's income is generated in USD plus BAT shares on the US exchange, a part of BAT's balance sheet, are denominated in USD. None of those things had any impact on the US share price but had a huge impact on the UK price, because of the currencies involved.

http://www.bat.com/group/sites/UK__9D9KCY.nsf/vwPagesWebLive/DO52AJTV

Please apply your explanation to the plots of the last years movements of the FTSE and Sterling/US$ -- specifically the FTSE fall in Aug/Sep 2015 and the rise in Feb-Apr 2106 during which time the currencies had no such dramatic changes.

Screenshot-99.png

You really don't get it do you! The FTSE rises and falls for reasons other than currency fluctuations and forex issues, just because there is a fall or rise in the FTSE does not mean there must be a corresponding rise or fall in the GBP/USD relationship. For example, a UK company(ies) may report better than expected earnings, mergers, acquisitions etc., ask yourself, why do shares rise and fall in the course of a normal week and you have your answer.

I was replying to someone who obviously does not "get it". I've been living off the benefits of these trends for years.

chiang mai · July 15, 2016

Please apply your explanation to the plots of the last years movements of the FTSE and Sterling/US$ -- specifically the FTSE fall in Aug/Sep 2015 and the rise in Feb-Apr 2106 during which time the currencies had no such dramatic changes.

Screenshot-99.png

You really don't get it do you! The FTSE rises and falls for reasons other than currency fluctuations and forex issues, just because there is a fall or rise in the FTSE does not mean there must be a corresponding rise or fall in the GBP/USD relationship. For example, a UK company(ies) may report better than expected earnings, mergers, acquisitions etc., ask yourself, why do shares rise and fall in the course of a normal week and you have your answer.

I was replying to someone who obviously does not "get it". I've been living off the benefits of these trends for years.

You asked for a further explanation based on two graphs you submitted, I've given you the answer, if you continue to disagree that currency fluctuations had a serious impact on FTSE valuations during the referendum, specifically the GBP/USD exchange rate, I can't help you any further because you're starting to look foolish here. OUT

jpinx · July 15, 2016

You asked for a further explanation based on two graphs you submitted, I've given you the answer, if you continue to disagree that currency fluctuations had a serious impact on FTSE valuations during the referendum, specifically the GBP/USD exchange rate, I can't help you any further because you're starting to look foolish here. OUT

I trust you have been following what Mr Soros and others have been actually doing -- usually the opposite of what they say, since their words are heavy in the market and can influence things,,,,,,

Is this cause or effect?

http://www.bbc.co.uk/news/business-36802646

Edited July 15, 2016 by jpinx

nong38 · July 15, 2016

In the meantime is the GBP still falling against the Baht?

I always look at the £ v $ as no matter what people say the Bhat does seem follows the $ like a shadow, since yesterday the £ has gained a couple of cents against the $. Yesterday on the Krungsri site £ stood at 45.40 today it is 46.23.

Meanwhile in other Brexit news, the Brtexit Secretary, David Davis has said that the article 50should be triggered by January and the UK is ex[ected to be out of the clutches of the EU by the end of 2018.

He also stated that the UK will not allow free movement of EU nationals into the UK, it is getting interesting!!

Donald Tusk is reported in the UK media as wanting to make the exit a painful one to disuade other potential defectors, rather spiteful nwords from one who apparently puts revenge before trade and the bebefit of the EU as a whole. We will see what develops as ever, he really does not seem to grasp that we are the 5th largest economy in the world and to be ignored at the EU's peril.

Has Brexit Secretary David Davis given any idea how he's going to broker a deal with 27 EU nations, each of whom hold a veto on any deal he tries to get signed?

He is now on his 2nd day in office, I doubt very much that he has decided on his strategy as yet, I will let you know as soon as he telephones.

Edited July 15, 2016 by nong38

GuestHouse · July 15, 2016

Has Brexit Secretary David Davis given any idea how he's going to broker a deal with 27 EU nations, each of whom hold a veto on any deal he tries to get signed?

He is now on his 2nd day in office, I doubt very much that he has decided on his strategy as yet, I will let you know as soon as he telephones.

Well he's doing a lot of talking about what he's going to achieve.

Perhaps he's hoping that sending the advance party of Farage and Johnson in is going to help. The first to insult the people he needs to negotiate a deal with, the second to act like an idiot and convince them the UK is run by buffoons.

nong38 · July 15, 2016

In the meantime is the GBP still falling against the Baht?

I always look at the £ v $ as no matter what people say the Bhat does seem follows the $ like a shadow, since yesterday the £ has gained a couple of cents against the $. Yesterday on the Krungsri site £ stood at 45.40 today it is 46.23.

Meanwhile in other Brexit news, the Brtexit Secretary, David Davis has said that the article 50should be triggered by January and the UK is ex[ected to be out of the clutches of the EU by the end of 2018.

He also stated that the UK will not allow free movement of EU nationals into the UK, it is getting interesting!!

Donald Tusk is reported in the UK media as wanting to make the exit a painful one to disuade other potential defectors, rather spiteful nwords from one who apparently puts revenge before trade and the bebefit of the EU as a whole. We will see what develops as ever, he really does not seem to grasp that we are the 5th largest economy in the world and to be ignored at the EU's peril.

what don't you read what Davis really said instead of presenting your incorrect and incoherent spin?

http://www.conservativehome.com/platform/2016/07/david-davis-trade-deals-tax-cuts-and-taking-time-before-triggering-article-50-a-brexit-economic-strategy-for-britain.html

There is nothing wrong with my comment that we will not accept free movement across our borders from the EU and he expects the deals to done within two years as I said.

chiang mai · July 15, 2016

You asked for a further explanation based on two graphs you submitted, I've given you the answer, if you continue to disagree that currency fluctuations had a serious impact on FTSE valuations during the referendum, specifically the GBP/USD exchange rate, I can't help you any further because you're starting to look foolish here. OUT

I trust you have been following what Mr Soros and others have been actually doing -- usually the opposite of what they say, since their words are heavy in the market and can influence things,,,,,,

Is this cause or effect?

http://www.bbc.co.uk/news/business-36802646

Sorry but there's no conspiracy theory to be had here, much as it might suit your views!

Your link provides no connection to the words of George Soros or others, nor to any economic event of note. If anything the link suggests that the Pound has steadied and equities have fallen slightly on the back of the BOE statement regarding interest rates, what else was to be expected, equities up, Pound down and vica versa has long been a standard guide. In fact equities (FTSE) is down slightly on the back of Nice and the impact on travel related companies.

KarenBravo · July 15, 2016

You asked for a further explanation based on two graphs you submitted, I've given you the answer, if you continue to disagree that currency fluctuations had a serious impact on FTSE valuations during the referendum, specifically the GBP/USD exchange rate, I can't help you any further because you're starting to look foolish here. OUT

I trust you have been following what Mr Soros and others have been actually doing -- usually the opposite of what they say, since their words are heavy in the market and can influence things,,,,,,

Is this cause or effect?

http://www.bbc.co.uk/news/business-36802646

Sorry but there's no conspiracy theory to be had here, much as it might suit your views!

Your link provides no connection to the words of George Soros or others, nor to any economic event of note. If anything the link suggests that the Pound has steadied and equities have fallen slightly on the back of the BOE statement regarding interest rates, what else was to be expected, equities up, Pound down and vica versa has long been a standard guide. In fact equities (FTSE) is down slightly on the back of Nice and the impact on travel related companies.

I wouldn't believe anything jpinx says.

Totally dodged the question from guesthouse which shows that this fella just makes things up to support his argument.

He obviously doesn't read his own links as after closer inspection, they don't actually prove his point.

Note to self:-

See jpinx........keep scrolling.

MissAndry · July 15, 2016

Pound always drops on Friday.

chiang mai · July 15, 2016

My error

Edited July 15, 2016 by chiang mai

nausea · July 16, 2016

Well, I admire you guys, voting for Brexit against your own interests (in the short term at least). I'm assuming you knew what you were doing and weren't fooled by all this talk about "immigration" and the "NHS". "Sovereignty" is the real issue here. Of course sovereignty means nothing if you're a Soi Dog.

Jip99 · July 16, 2016

Well, I admire you guys, voting for Brexit against your own interests (in the short term at least). I'm assuming you knew what you were doing and weren't fooled by all this talk about "immigration" and the "NHS". "Sovereignty" is the real issue here. Of course sovereignty means nothing if you're a Soi Dog.

Thank you for recognising that.

Many Brexiteers parked 'self-interest' in favour of the long-term betterment of the UK.

Naam · July 16, 2016

My error

it did drop! in fact it dropped like a stone.

brexiteer · July 16, 2016

My error

it did drop! in fact it dropped like a stone.

£ Friday.png

Do you have a similar timeline chart for EUR/USD ?

chiang mai · July 16, 2016

My error

it did drop! in fact it dropped like a stone.

£ Friday.png

Yes it did. But this is a cyclical debate that always originates from the same source, it did drop but it doesn't always drop, as has been shown to be true on numerous occasions in the past.

Naam · July 16, 2016

My error

it did drop! in fact it dropped like a stone.

£ Friday.png

Do you have a similar timeline chart for EUR/USD ?

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