Sterling falls to new low against the dollar in Asia trade

[MissAndry]

^.........might we see 30 baht to the euro?....(39 now)

I would bet the Euro reaches 30bht well before the Pound.

Assuming the Baht doesn't jump off the balcony first. (and that's a big assumption)

[Nasrullah]

There's an article here

http://www.businessinsider.com/deutsche-bank-pound-to-fall-by-the-end-of-2016-2016-7

about how low the pound will have to go to make the UK competitive. The point of the article is that to make the UK competitive, its value will have to fall enough to make buying stuff from or in the UK a bargain. Right now the value of the pound is still roughly at Purchasing Power Parity (PPP). PPP is sometimes called the Big Mac Index. i.e. how much a Big Mac costs in the UK vs. any other country. And before the literal-minded chime in, it's not just Big Macs but just about everything that can be purchased in the marketplace.

So for the UK to successfully compete in the marketplace, the value of the pound would have to fall enough so as to make it a bargain. Much in the same way that the Thai baht is still a bargain for expats. So for the pound to be a bargain and encourage exports, it would have to fall to a value of about 1 pound/1.15 dollars. But for the property market to be competitive and to encourage investment in the UK one pound would have to be worth less than 1 dollar. That's quite a fall.

Might we see 30 Baht to the Quid?

Might we see 30 baht to the euro? (39 now)

[MJP]

It's begun. Just had an email from one of my suppliers (photographic equipment). Prices rising 10% from Monday due to fall in £.

[Nasrullah]

^.........might we see 30 baht to the euro?....(39 now)

I would bet the Euro reaches 30bht well before the Pound.

Assuming the Baht doesn't jump off the balcony first. (and that's a big assumption)

I would take that bet as well!.......

The cracks are,and will continue to be present with the euro.....

I think it was Jim mellon(brexiteer) who said........"I would rather be in a life boat than on the titantic"

[ilostmypassword]

The point of the article is that to make the UK competitive, its value will have to fall enough to make buying stuff from or in the UK a bargain. Right now the value of the pound is still roughly at Purchasing Power Parity (PPP). PPP is sometimes called the Big Mac Index. i.e. how much a Big Mac costs in the UK vs. any other country. And before the literal-minded chime in, it's not just Big Macs but just about everything that can be purchased in the marketplace.

But pointless as the UK doesn't actually make anything any more.

I guess you're saying that because you don't have any teapots made in the UK. But if you go to google and do a search you would find something like this:

Despite the decline since the 1970s, whenmanufacturing contributed 25% of UK GDP, the UK is currently the 11th largest manufacturing nation in the world. Overall, the UK's industrial sector has increased by 1.4% a year since 1948, according to a recent report from the Office for National Statistics (ONS)

www.themanufacturer.com/uk-manufacturing-statistics/

Or this

The United Kingdom, where the Industrial Revolution began in the late 18th century, has a long history of manufacturing, which contributed to Britain's early economic growth. During the second half of the 20th century, there was a steady decline in the importance of manufacturing and the economy of the United Kingdom shifted toward services although manufacturing remains important for overseas trade and accounted for 44% of goods exports in 2014.^[1]

^{https://en.wikipedia.org/wiki/Manufacturing_in_the_United_Kingdom}

[ilostmypassword]

There's an article here

http://www.businessinsider.com/deutsche-bank-pound-to-fall-by-the-end-of-2016-2016-7

about how low the pound will have to go to make the UK competitive. The point of the article is that to make the UK competitive, its value will have to fall enough to make buying stuff from or in the UK a bargain. Right now the value of the pound is still roughly at Purchasing Power Parity (PPP). PPP is sometimes called the Big Mac Index. i.e. how much a Big Mac costs in the UK vs. any other country. And before the literal-minded chime in, it's not just Big Macs but just about everything that can be purchased in the marketplace.

So for the UK to successfully compete in the marketplace, the value of the pound would have to fall enough so as to make it a bargain. Much in the same way that the Thai baht is still a bargain for expats. So for the pound to be a bargain and encourage exports, it would have to fall to a value of about 1 pound/1.15 dollars. But for the property market to be competitive and to encourage investment in the UK one pound would have to be worth less than 1 dollar. That's quite a fall.

Might we see 30 Baht to the Quid?

Well, if that Deutsche bank projection of 90 p to the dollar turns out to be correct, it could happen. Depending, of course, on the value of the dollar vs. the baht.

[MJP]

There's an article here

http://www.businessinsider.com/deutsche-bank-pound-to-fall-by-the-end-of-2016-2016-7

about how low the pound will have to go to make the UK competitive. The point of the article is that to make the UK competitive, its value will have to fall enough to make buying stuff from or in the UK a bargain. Right now the value of the pound is still roughly at Purchasing Power Parity (PPP). PPP is sometimes called the Big Mac Index. i.e. how much a Big Mac costs in the UK vs. any other country. And before the literal-minded chime in, it's not just Big Macs but just about everything that can be purchased in the marketplace.

So for the UK to successfully compete in the marketplace, the value of the pound would have to fall enough so as to make it a bargain. Much in the same way that the Thai baht is still a bargain for expats. So for the pound to be a bargain and encourage exports, it would have to fall to a value of about 1 pound/1.15 dollars. But for the property market to be competitive and to encourage investment in the UK one pound would have to be worth less than 1 dollar. That's quite a fall.

Might we see 30 Baht to the Quid?

Well, if that Deutsche bank projection of 90 p to the dollar turns out to be correct, it could happen. Depending, of course, on the value of the dollar vs. the baht.

Oh good. The kids can buy the old man a house in Devon. Wonderful news.

[ilostmypassword]

There's an article here

http://www.businessinsider.com/deutsche-bank-pound-to-fall-by-the-end-of-2016-2016-7

about how low the pound will have to go to make the UK competitive. The point of the article is that to make the UK competitive, its value will have to fall enough to make buying stuff from or in the UK a bargain. Right now the value of the pound is still roughly at Purchasing Power Parity (PPP). PPP is sometimes called the Big Mac Index. i.e. how much a Big Mac costs in the UK vs. any other country. And before the literal-minded chime in, it's not just Big Macs but just about everything that can be purchased in the marketplace.

So for the UK to successfully compete in the marketplace, the value of the pound would have to fall enough so as to make it a bargain. Much in the same way that the Thai baht is still a bargain for expats. So for the pound to be a bargain and encourage exports, it would have to fall to a value of about 1 pound/1.15 dollars. But for the property market to be competitive and to encourage investment in the UK one pound would have to be worth less than 1 dollar. That's quite a fall.

Might we see 30 Baht to the Quid?

Well, if that Deutsche bank projection of 90 p to the dollar turns out to be correct, it could happen. Depending, of course, on the value of the dollar vs. the baht.

Oh good. The kids can buy the old man a house in Devon. Wonderful news.

I'm guessing that previous to the Brexit vote they could have bought you a mansion?

[MJP]

^^Nope. Not even a garden shed.

A mate is selling his house in KK having moved back to Blighty after 18 years of working in LOS. I hope he gets this right. A collapse in the £ and a house price crash should set him up lovely.

[i claudius]

Get ready for a Thailand Brexit

Don't you mean "Brexin"?

What about Taxin ?

[i claudius]

I'm ok with it being around 50 baht to the pound. I really can't see it going down much further than say 44 baht to the pound. To put that into perspective ,that's about 100 pounds sterling less on every thousand pound I spend every month. All that needs to be done is save 100 pounds per month. Bye bye fitness first for the Mrs ( not that she done anything else but take selfies anyway) that's 3000 baht right there. I will cut out the mon morning pi#s ups ,that's another 3000 baht. I'm already up. Simples.....

Everyone needs to stop panicking. And please stop talking about the great era of 70 baht or more to the pound, it really wasn't helping when it was in the 50s let alone now! ....

As I said stop panicking !!!!!!, ahhhhhhahhhhhhhhhahhhhh

Sure, and following that great bit of logic, no matter how far the pound drops to the baht, just stop more spending and start taking notes from those posters who claim they live very nicely on B20k/mo.

I live very nicely with less 20k. I live in a high rise building facing the sea, I don't need air conditioning and I take cold shower everyday. my last electric monthly bill was 200 baths. I eat fruits and chicken everyday directly from market, I ride a scooter, and I have still plenty of money to spend around if I want.

I spend probably less than 14k. just last month I spent 8k baths all included.

I told you to save money and live cheap.

you will realize than more you save, more you make money and more things you can get , it s just amazingly amazing.!

God created the universe from nothing, it s possible for you too.

I would call that surviving not living,but then whatever floats your boat

[theguyfromanotherforum]

^^Nope. Not even a garden shed.

A mate is selling his house in KK having moved back to Blighty after 18 years of working in LOS. I hope he gets this right. A collapse in the £ and a house price crash should set him up lovely.

A pound collapse will just push prices higher from foreign investors who love to purchase property in stable countries like UK.

When Canadian dollar fell 2 years ago from 31 baht to 25 baht (equal to US drop percentage) the housing in Canada got even hotter.

I love these currency dips because my condo in Toronto keeps going up.

Thanks China!

[MissAndry]

I live very nicely with less 20k. I live in a high rise building facing the sea, I don't need air conditioning and I take cold shower everyday. my last electric monthly bill was 200 baths. I eat fruits and chicken everyday directly from market, I ride a scooter, and I have still plenty of money to spend around if I want.

I spend probably less than 14k. just last month I spent 8k baths all included.

I told you to save money and live cheap.

you will realize than more you save, more you make money and more things you can get , it s just amazingly amazing.!

God created the universe from nothing, it s possible for you too.

I would call that surviving not living,but then whatever floats your boat

Standard of living on 20k would depend on where you live and how 'able' you are.

If you are happy with a 2 bedroom house, a nice little garden, and have the ability to cook almost everything yourself, and are able bodied enought to walk, cycle or ride a m/c, the standard would be quite high.

If on the other hand, you live in Bangkok, can't clean or cook for yourself, can't drive so use the taxi or chauffeur, and demand quality western food at every meal, then it would be low.

Edited July 8, 2016 by MissAndry

[i claudius]

I live very nicely with less 20k. I live in a high rise building facing the sea, I don't need air conditioning and I take cold shower everyday. my last electric monthly bill was 200 baths. I eat fruits and chicken everyday directly from market, I ride a scooter, and I have still plenty of money to spend around if I want.

I spend probably less than 14k. just last month I spent 8k baths all included.

I told you to save money and live cheap.

you will realize than more you save, more you make money and more things you can get , it s just amazingly amazing.!

God created the universe from nothing, it s possible for you too.

I would call that surviving not living,but then whatever floats your boat

Standard of living on 20k would depend on where you live and how 'able' you are.

If you are happy with a 2 bedroom house, a nice little garden, and have the ability to cook almost everything yourself, and are able bodied enought to walk, cycle or ride a m/c, the standard would be quite high.

If on the other hand, you live in Bangkok, can't clean or cook for yourself, can't drive so use the taxi or chauffeur, and demand quality western food at every meal, then it would be low.

That's nothing like me ,but what was originally quoted still sounds like surviving,sorry

[brexiteer]

I live very nicely with less 20k. I live in a high rise building facing the sea, I don't need air conditioning and I take cold shower everyday. my last electric monthly bill was 200 baths. I eat fruits and chicken everyday directly from market, I ride a scooter, and I have still plenty of money to spend around if I want.

I spend probably less than 14k. just last month I spent 8k baths all included.

I told you to save money and live cheap.

you will realize than more you save, more you make money and more things you can get , it s just amazingly amazing.!

God created the universe from nothing, it s possible for you too.

I would call that surviving not living,but then whatever floats your boat

Standard of living on 20k would depend on where you live and how 'able' you are.

If you are happy with a 2 bedroom house, a nice little garden, and have the ability to cook almost everything yourself, and are able bodied enought to walk, cycle or ride a m/c, the standard would be quite high.

If on the other hand, you live in Bangkok, can't clean or cook for yourself, can't drive so use the taxi or chauffeur, and demand quality western food at every meal, then it would be low.

That's nothing like me ,but what was originally quoted still sounds like surviving,sorry

To be fair, it sounds like contentment.

As you say, each to their own.

[SheungWan]

Bloomberg have just pointed out that the Pound has now surpassed the Argentine Peso as the worst currency performer of 31 major currencies against USD in 2016.

Edited July 9, 2016 by SheungWan

[SheungWan]

.

Edited July 9, 2016 by SheungWan

[MJP]

.the pound.png

Best performing doesn't necessarily mean best outcome . . .

Toyota shuts lifts down to save money because of strong yen

http://www.bbc.co.uk/news/business-36742652

[mommysboy]

There's an article here

http://www.businessinsider.com/deutsche-bank-pound-to-fall-by-the-end-of-2016-2016-7

about how low the pound will have to go to make the UK competitive. The point of the article is that to make the UK competitive, its value will have to fall enough to make buying stuff from or in the UK a bargain. Right now the value of the pound is still roughly at Purchasing Power Parity (PPP). PPP is sometimes called the Big Mac Index. i.e. how much a Big Mac costs in the UK vs. any other country. And before the literal-minded chime in, it's not just Big Macs but just about everything that can be purchased in the marketplace.

So for the UK to successfully compete in the marketplace, the value of the pound would have to fall enough so as to make it a bargain. Much in the same way that the Thai baht is still a bargain for expats. So for the pound to be a bargain and encourage exports, it would have to fall to a value of about 1 pound/1.15 dollars. But for the property market to be competitive and to encourage investment in the UK one pound would have to be worth less than 1 dollar. That's quite a fall.

Might we see 30 Baht to the Quid?

Well, if that Deutsche bank projection of 90 p to the dollar turns out to be correct, it could happen. Depending, of course, on the value of the dollar vs. the baht.

I think we now know why Deutsche Bank is in a cart load of trouble. Hope it hasn't bet too much on this prediction.

[mommysboy]

.the pound.png

Best performing doesn't necessarily mean best outcome . . .

Toyota shuts lifts down to save money because of strong yen

http://www.bbc.co.uk/news/business-36742652

Many people, perhaps most, can't grasp simple economic principles.

I'd be more worried for the UK if the pound hadn't fallen.

Now it is super competitive.

The City isn't really under threat, people don't know the difference between wholesale and retail markets, and finacial passporting even if not given can be circumvented by equivalence, or even just opening a back office in Dublin say.

All currencies reach a support level. The pound has already had a significant devaluation. It'll probably go through another wave or two. I can see $1.20 for sure.

Edited July 10, 2016 by mommysboy

[Nasrullah]

^^^.....LOL.........after all isn't devaluing one's currency been the name of the game since 2010........currency wars!!!

So you get to leave the EU and help exports at the same time.............Presto!!

[alanrchase]

.the pound.png

Best performing doesn't necessarily mean best outcome . . .

Toyota shuts lifts down to save money because of strong yen

http://www.bbc.co.uk/news/business-36742652

Many people, perhaps most, can't grasp simple economic principles.

I'd be more worried for the UK if the pound hadn't fallen.

Now it is super competitive.

Get your point but who knows anything about economic principles? It's a gambling den. Big players will generally benefit. At the end of the day someone has to pay.

[mommysboy]

.the pound.png

Best performing doesn't necessarily mean best outcome . . .

Toyota shuts lifts down to save money because of strong yen

http://www.bbc.co.uk/news/business-36742652

Many people, perhaps most, can't grasp simple economic principles.

I'd be more worried for the UK if the pound hadn't fallen.

Now it is super competitive.

Get your point but who knows anything about economic principles? It's a gambling den. Big players will generally benefit. At the end of the day someone has to pay.

Yes fair point. What we are seeing currently is a mixture of chagrin from the losers who bet on a 'remain' vote, and a strong push from shorters on the pound making the most of the hysteria.

Next month it will be the same when the Italian bank's crisis reaches a head, and then the next big fixture could be Deutsche Bank.

And yes, someone pays, taxpayers and investment funds usually.

[alanrchase]

.the pound.png

Best performing doesn't necessarily mean best outcome . . .

Toyota shuts lifts down to save money because of strong yen

http://www.bbc.co.uk/news/business-36742652

Many people, perhaps most, can't grasp simple economic principles.

I'd be more worried for the UK if the pound hadn't fallen.

Now it is super competitive.

Get your point but who knows anything about economic principles? It's a gambling den. Big players will generally benefit. At the end of the day someone has to pay.

Yes fair point. What we are seeing currently is a mixture of chagrin from the losers who bet on a 'remain' vote, and a strong push from shorters on the pound making the most of the hysteria.

Next month it will be the same when the Italian bank's crisis reaches a head, and then the next big fixture could be Deutsche Bank.

And yes, someone pays, taxpayers and investment funds usually.

Why do you need to harp on about "loosers"? Are all the people that voted remain loosers? Have no idea how things will work out. If it does not work out can we call the leavers loosers?

[mommysboy]

.the pound.png

Best performing doesn't necessarily mean best outcome . . .

Toyota shuts lifts down to save money because of strong yen

http://www.bbc.co.uk/news/business-36742652

Many people, perhaps most, can't grasp simple economic principles.

I'd be more worried for the UK if the pound hadn't fallen.

Now it is super competitive.

Get your point but who knows anything about economic principles? It's a gambling den. Big players will generally benefit. At the end of the day someone has to pay.

Yes fair point. What we are seeing currently is a mixture of chagrin from the losers who bet on a 'remain' vote, and a strong push from shorters on the pound making the most of the hysteria.

Next month it will be the same when the Italian bank's crisis reaches a head, and then the next big fixture could be Deutsche Bank.

And yes, someone pays, taxpayers and investment funds usually.

Why do you need to harp on about "loosers"? Are all the people that voted remain loosers? Have no idea how things will work out. If it does not work out can we call the leavers loosers?

I am not calling the people who voted 'remain' losers. I was referring to the people who gambled on a remain vote. They lost.

You misread surely. As a matter of fact I was a reluctant 'remainer' myself, but have since become a 'leaver'

[alanrchase]

.the pound.png

Best performing doesn't necessarily mean best outcome . . .

Toyota shuts lifts down to save money because of strong yen

http://www.bbc.co.uk/news/business-36742652

Many people, perhaps most, can't grasp simple economic principles.

I'd be more worried for the UK if the pound hadn't fallen.

Now it is super competitive.

Get your point but who knows anything about economic principles? It's a gambling den. Big players will generally benefit. At the end of the day someone has to pay.

Yes fair point. What we are seeing currently is a mixture of chagrin from the losers who bet on a 'remain' vote, and a strong push from shorters on the pound making the most of the hysteria.

Next month it will be the same when the Italian bank's crisis reaches a head, and then the next big fixture could be Deutsche Bank.

And yes, someone pays, taxpayers and investment funds usually.

Why do you need to harp on about "loosers"? Are all the people that voted remain loosers? Have no idea how things will work out. If it does not work out can we call the leavers loosers?

I am not calling the people who voted 'remain' losers. I was referring to the people who gambled on a remain vote. They lost.

You misread surely. As a matter of fact I was a reluctant 'remainer' myself, but have since become a 'leaver'

Your post did mention losers. I took it the wrong way. Apparently you were being nice.

[mommysboy]

Now the reality is upon us, this is why I favour no deal at all:

http://www.independent.co.uk/voices/brexit-eu-referendum-norway-single-market-could-the-norway-model-work-for-britain

The City of London is well protected. The WTO rules are as sufficient for us as they are for the many independent countries that trade with the EU. Personally, I would be surprised if anything other than the lowest possible tariff is applied, and even then with great fear from EU as UK will reciprocate.

Edited July 10, 2016 by mommysboy

[alanrchase]

Now the reality is upon us, this is why I favour no deal at all:

http://www.independent.co.uk/voices/brexit-eu-referendum-norway-single-market-could-the-norway-model-work-for-britain

The City of London is well protected. The WTO rules are as sufficient for us as they are for the many independent countries that trade with the EU. Personally, I would be surprised if anything other than the lowest possible tariff is applied, and even then with great fear from EU as UK will reciprocate.

Nice stuff. The empire died with Rhodesia didn't it,

[mommysboy]

Now the reality is upon us, this is why I favour no deal at all:

http://www.independent.co.uk/voices/brexit-eu-referendum-norway-single-market-could-the-norway-model-work-for-britain

The City of London is well protected. The WTO rules are as sufficient for us as they are for the many independent countries that trade with the EU. Personally, I would be surprised if anything other than the lowest possible tariff is applied, and even then with great fear from EU as UK will reciprocate.

Nice stuff. The empire died with Rhodesia didn't it,

I can't really answer your somewhat abstract postings.

UK doesn't have to do a deal. It is not necessary. All I am saying is that we can be a free 'normal' country doing what Canada, Australia, New Zealand, etc, do. People are rushing to the idea that we must be in a single market but this simply isn't true.

[alanrchase]

Now the reality is upon us, this is why I favour no deal at all:

http://www.independent.co.uk/voices/brexit-eu-referendum-norway-single-market-could-the-norway-model-work-for-britain

The City of London is well protected. The WTO rules are as sufficient for us as they are for the many independent countries that trade with the EU. Personally, I would be surprised if anything other than the lowest possible tariff is applied, and even then with great fear from EU as UK will reciprocate.

Nice stuff. The empire died with Rhodesia didn't it,

I can't really answer your somewhat abstract postings.

UK doesn't have to do a deal. It is not necessary. All I am saying is that we can be a free 'normal' country doing what Canada, Australia, New Zealand, etc, do. People are rushing to the idea that we must be in a single market but this simply isn't true.

Sorry, not old enough for the empire . Memories of Ian Smith doing something. Britain is not quite what it used to be. I seriously hope the farce will work out ok.I do find it a bit strange that the leave camp had no plan.