Jump to content
Login with your Gmail HERE and start posting in seconds! ×
Don't just read! Be part of the Community! Join the conversation ×
Our Newsletter now includes a Sunday edition! Stay updated 7 days a week!

Pound drops to lowest level since 1985 

webfact

By webfact
in World News

 Share

Recommended Posts

SheungWan Gold Member

SheungWan

Posted
Posted
5 hours ago, chiang mai said:

Oh deary me!

 

The head line for this article is, "Pound sterling now seen as an emerging market currency by traders".

 

http://www.independent.co.uk/news/business/news/pound-sterling-behaves-like-emerging-market-currency-traders-mexican-peso-a7356231.html

 

2 hours ago, garywim said:

When do we pensioners expect some good news about the Exchange rate?

My pension has dropped by nearly 4.000 baht per month.

Anyone else?

 

2 hours ago, Iforbach said:

Years ago I spit my savings uk pounds @ US dollars so I sit on fence ,,right or wrong ,,not sure but it works for me 

 

The message from the markets is that for now the UK appears to have trashed sterling as a safe haven currency. Waiting for good news other than an occasional bounce may not be too productive other than using bounces to convert out of sterling and create a hedge.

Link to comment
Share on other sites
  • Replies 1.8k
  • Created
  • Last Reply

Top Posters In This Topic

Popular Days

Top Posters In This Topic

Popular Days

Posted Images

chiang mai Star Member

chiang mai

Posted
Posted
2 hours ago, garywim said:

When do we pensioners expect some good news about the Exchange rate?

My pension has dropped by nearly 4.000 baht per month.

Anyone else?

 

Every Brit who has income that arises in the UK in Pounds has seen the same effect, you are not at all alone in this. Good news for you could possible come by way of very bad news for others, although that's the way currency markets work, best not to ask questions to try and clarify what these are since the law forbids complete answers. Alternatively, a long wait may be ahead, surprises will no doubt cause ups and downs, false dawns/premature deliveries etc. Recommend that if life is painful given a 4k drop, perhaps examine and update your Plan B, of which currency hedging must be the number one choice, if funds and intestinal fortitude allow.

 

 

Link to comment
Share on other sites
SheungWan Gold Member

SheungWan

Posted
Posted
1 hour ago, Prbkk said:

While I haven't looked closely at the cross rates, it would seem that the Baht is sinking even faster , and with more of that to be expected the purchasing power using the GBP in Thailand should not be too greatly affected. 

It would be nice to expect to be able to pick up some nice Red Leicester more cheaply in Baht but that isn't going to happen.

 

If we use 50 as the marker, then sterling is 12% down. Its a significant dent, more significant for some than others, but a dent nonetheless. Sorry to hear about the Red Leicester. For some reason Danish Blue always seems to be not so expensive.

Link to comment
Share on other sites
NanLaew Star Member

NanLaew

Posted
Posted
6 hours ago, RuamRudy said:

 

Do you follow Scottish politics closely? The idea of a newly empowered Scottish Labour is risible at the moment. If Dugdale sees out the year as leader it will be a surprise to many. And the Tories, under Ruth Davidson, are capitalising on that dissaray; they are far from languishing on the fringes. They may have the ideological barriers to overcome among many left leaning voters but they are working hard to capture the unionist middle.

 

But all that is academic. When that 'infernal wee woman and her band of sycophantic acolytes' make up near half the population and rising, the chances of them withering away are slim. Independance (a much less loaded term than secessionism, don't you agree?) is looking increasingly likely, and the more people like you refer to nearly half the country as sycophantic acolytes, the better. Please keep up the good work / insults.

 

A lot more closely than you assume but probably with more historical context. The SNP have imploded before.

Link to comment
Share on other sites
metisdead Star Member

metisdead

Posted
Posted

A post in violation of fair use policy has been removed as well as the replies:

 

14) You will not post any copyrighted material except as fair use laws apply (as in the case of news articles). Please only post a link, the headline and the first three sentences.

Link to comment
Share on other sites
NanLaew Star Member

NanLaew

Posted
Posted
4 hours ago, Khun Han said:

 

Or: How to completely misunderstand Scottish politics and insult about half of Scotland in one hapless post.

Much, much more than half surely believed that Salmond's claim that 'Scotland's oil' would be the great enabler?

 

In good conscience I cannot accept your award of being hapless. You have been far more diligent in earning that moniker.

Link to comment
Share on other sites
soalbundy Diamond Member

soalbundy

Posted
Posted
6 minutes ago, The Dark Lord said:

There has been a slight rally on the £!

 

I know, one swallow does not make a summer but it is a rally all the same

 

hurrah!

Ah yes, as Wilson once said 'the pound in your pocket is still worth a pound', but that was before globalisation and the UK was able to make things that people wanted to buy. Makes me laugh when it's reported that the car production in Britain has climbed, none of them are British owned.

Link to comment
Share on other sites
Khun Han Senior Member

Khun Han

Posted
Posted
7 hours ago, Grouse said:

 

Yes, this is all correct IMHO.

 

Mrs May putting the Con Party conference before the country is very telling. I note that some Tory leavers are now expressing concern.

 

There is, or at least was, an entirely reasonable way forward. Is TM just stupid or is she cynical?

 

You see, my view was that on BALANCE it was better to remain and FORCE change from within.

 

Clearly UK total immigration rate was too high. Discounting my anti Muslim views, adjustments could have been negotiated (limiting annual total, total per country, job offers in advance) and living wage enforced.

 

EU waste is appalling. This could have been negotiated including the balmy Strasbourg / Brussels arrangement and FORCING proper audits.

 

I don't think the budget contribution unreasonable

 

Fishing quotas seem illogical. Clearly we need sensible regulations to preserve stocks. We've seen what happens when fishermen are left to manage the situation

 

EU employment and environmental regs were also good for the average man.

 

I do think there was scope to increase democracy within the EU but it is no where near as bad as many think.

 

But overall, and on BALANCE, I still feel the EU is a benign influence.

 

Throwing everything away to get some benefit that will not materialise is just foolish. 

 

It's not over yet by a long way. How much is a litre of 98 octane? How much by year end do you think?

 

BTW, Gravy, I thought your Yorkshireman piece was spot on!?

 

The problem is, it became clear that the EU is not going to reform for the better until it is absolutely forced to do so through some catastrophic event. Hell, look at how it treated Cameron when he went to it looking for a bit of help in winning over the British population to his remain campaign! It was quite dismissive, and treated him almost with disdain, when any sort of half-decent compromise would probably have given him enough to win over the referendum 'undecideds' and win the day. Look how that's all ended up: People talk about racism, stupidity and lies winning the vote, but it was this one single piece of intransigence by the EU, making Cameron return from Brussels looking like a dog that's lost it's bone, that sealed the referendum's fate. But, the EU is on a mission, and no individual member state is going to be allowed to interfere with that mission, as explained by Juncker in his state of the union speech.

Link to comment
Share on other sites
Khun Han Senior Member

Khun Han

Posted
Posted
24 minutes ago, NanLaew said:

Much, much more than half surely believed that Salmond's claim that 'Scotland's oil' would be the great enabler?

 

In good conscience I cannot accept your award of being hapless. You have been far more diligent in earning that moniker.

 

"In good conscience I cannot accept your award of being hapless. You have been far more diligent in earning that moniker. "

 

Maybe, maybe not. But I at least try to read peoples's posts properly before replying to them, instead of getting their meaning completely ar$e-about-t1t and going on to make smart-ar$e replies that fail spectacularly :biggrin:.

Link to comment
Share on other sites
jadee Advanced Member

jadee

Posted
Posted

Good post Khun Han, the EU could have made further concessions. However, I would argue that the deal struck by Cameron would simply have been watered down by the European Parliament following the referendum. Britain couldn't have curbed migration or migrant benefits as MEPs have the power to veto anything that discriminates between EU citizens. Cameron's claim that the deal was legally binding simply wasn't true. 

Link to comment
Share on other sites
rockingrobin Senior Member

rockingrobin

Posted
Posted
1 hour ago, Khun Han said:

 

The problem is, it became clear that the EU is not going to reform for the better until it is absolutely forced to do so through some catastrophic event. Hell, look at how it treated Cameron when he went to it looking for a bit of help in winning over the British population to his remain campaign! It was quite dismissive, and treated him almost with disdain, when any sort of half-decent compromise would probably have given him enough to win over the referendum 'undecideds' and win the day. Look how that's all ended up: People talk about racism, stupidity and lies winning the vote, but it was this one single piece of intransigence by the EU, making Cameron return from Brussels looking like a dog that's lost it's bone, that sealed the referendum's fate. But, the EU is on a mission, and no individual member state is going to be allowed to interfere with that mission, as explained by Juncker in his state of the union speech.

There are provisions in the treatys for an emergency break in the freedom of movement, and if Cameron and asked he would of got, however we are led to believe that he could not cabinet backing.

I suspect after all the posturing and political bluster we will leave the EU, maintain single market access paying the mutual agreeable fee and place a temporary restriction on freedom of movement.

Link to comment
Share on other sites
RuamRudy Platinum Member

RuamRudy

Posted
Posted
2 hours ago, NanLaew said:

Much, much more than half surely believed that Salmond's claim that 'Scotland's oil' would be the great enabler?

 

 

Unfortunately, when oil was truly an enabler, Thatcher was in power and squandered it by giving tax breaks the the middle classes.

Link to comment
Share on other sites
RuamRudy Platinum Member

RuamRudy

Posted
Posted
2 hours ago, NanLaew said:

A lot more closely than you assume but probably with more historical context. The SNP have imploded before.

 

You should look at the contemporary state of affairs - it is fascinating, if a bit tragic in the way that SLab is flailing about like a mortally wounded walrus that refuses to die. Maybe a metaphor for the union? I think best to put them both out of their misery.

Link to comment
Share on other sites
SheungWan Gold Member

SheungWan

Posted
Posted
Just now, RuamRudy said:

 

You should look at the contemporary state of affairs - it is fascinating, if a bit tragic in the way that SLab is flailing about like a mortally wounded walrus that refuses to die. Maybe a metaphor for the union? I think best to put them both out of their misery.

 

I must admit I cannot see much point in specific discussion of Scotland in terms of this thread except for one factor which is to ask whether the downward spiral of sterling makes the adoption of the Euro more acceptable to Scottish voters. If the answer is significantly yes, then does that up the pressure for another referendum on Scottish independence? I am not asking for opinion as to whether a good or bad thing, only whether the risk of Scottish independence will now rise and also what time frame might be on the cards.

Link to comment
Share on other sites
Guest
This topic is now closed to further replies.
 Share
Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.






ASEANNOW

ASEANNOW (formally ThaiVisa) is Thailand's oldest and most popular expat and foriegner forum. Sign up today and have your say!

MORE INFO

POPULAR AREAS

CONTACT US

219/59 Asoke Towers, 15th Floor, Soi Sukhumvit 21, Watthana, Bangkok 10110
(+66) 99 196 1100
[email protected]

×
×
  • Create New...