POUND IN FREEFALL?
Oct 7th, 2016, 06:22 AM
#1
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POUND IN FREEFALL?
Hard to believe. Pound fell through $1.20 during yesterday's trading and has recovered somewhat to $1.24. This may be the time for Americans to prebook travel to London; personally although I am not an expert, I cannot see it falling much further.
Oct 7th, 2016, 06:40 AM
#2
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I can see it falling much further. Then higher. Then lower. Then higher.
http://www.cnbc.com/2016/10/06/briti...ecade-low.html
But to your point we are transferring money to a pound account today for a trip in late November.
http://www.cnbc.com/2016/10/06/briti...ecade-low.html
But to your point we are transferring money to a pound account today for a trip in late November.
Oct 7th, 2016, 06:45 AM
#3
"This may be the time for Americans to prebook travel to London;..."
Or Europe (Euro 1.11) or India (INR 66). Are other currencies losing ground or the dollar stronger, and does it matter? Yes, book travel but prepay as much as possible, considering the approaching election.
Or Europe (Euro 1.11) or India (INR 66). Are other currencies losing ground or the dollar stronger, and does it matter? Yes, book travel but prepay as much as possible, considering the approaching election.
Oct 7th, 2016, 06:47 AM
#4
Generally with uncertainty over UK plans for the next 2 or 3 years and gov interest rates at 0.25% who in their right mind will want sterling. It is going to be a roller coaster while all this gets sorted out. I moved most of my money to global accounts before and after the vote. Trouble is all I earn is more pesky £.
For visitors; come and bring anything but £. We have loads of them.
For visitors; come and bring anything but £. We have loads of them.
. I see belt tightening in my future.
Oct 7th, 2016, 08:46 AM
#8
yeh, Brexit was such a good idea.
We're off to France for a few days next week. We should have bought some more euros while we were in Italy. Fortunately we've booked transport and accommodation through Brittany Ferries and have paid in £ so it's just spending money we have to worry about.
Tant pis.
We're off to France for a few days next week. We should have bought some more euros while we were in Italy. Fortunately we've booked transport and accommodation through Brittany Ferries and have paid in £ so it's just spending money we have to worry about.
Tant pis.
Oct 7th, 2016, 09:13 AM
#10
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>>I suppose currecny there is linked to Pound (didn't check and never been yet). <<
No. Euros there.
I heard on the radio news that there is speculation that our old friend automated algorithms were reacting to news reports about the government's approach to Brexit. The thought that someone can automate analysis of party conference speeches....... robots on the platform, robots in the press room, robots in the banks?
No. Euros there.
I heard on the radio news that there is speculation that our old friend automated algorithms were reacting to news reports about the government's approach to Brexit. The thought that someone can automate analysis of party conference speeches....... robots on the platform, robots in the press room, robots in the banks?
Oct 7th, 2016, 09:34 AM
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I enjoy converting my Swiss franc salary to pounds. I'm rich! ;-)
When we moved here, there were almost 2 francs to the pound...now, not so much.
Threads like this make me miss logos999 who was constantly and gleefully predicting the imminent collapse of the dollar...
When we moved here, there were almost 2 francs to the pound...now, not so much.
Threads like this make me miss logos999 who was constantly and gleefully predicting the imminent collapse of the dollar...
Oct 7th, 2016, 12:21 PM
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Apparently at Heathrow's currency exchange 1GBP will buy you €1.
cold - yes it could well mean cutting down of food, and heat and travel. The pension is not a lot and when half of it hasn't gone up with inflation (the Dutch half) and the other half is going down due to currency problems it isn't looking good for us.
I hope some will be able to take advantage of the cheap pound, but bear in mind that they import a lot of stuff and all of that will go up in price as a result, so it may not be such a bargain.
cold - yes it could well mean cutting down of food, and heat and travel. The pension is not a lot and when half of it hasn't gone up with inflation (the Dutch half) and the other half is going down due to currency problems it isn't looking good for us.
I hope some will be able to take advantage of the cheap pound, but bear in mind that they import a lot of stuff and all of that will go up in price as a result, so it may not be such a bargain.
Oct 7th, 2016, 01:53 PM
#18
>>neither did the vast majority of my friends and acquaintances.<<
Some of those may be closet Brexit-ers and just aren't admitting it since Cornwall went 57%-43% to leave.
I think it may be a bit like Trump in the States. Everyone says 'Oh no - no one I know can tolerate The Donald' . . . yet the polls say otherwise.
Some of those may be closet Brexit-ers and just aren't admitting it since Cornwall went 57%-43% to leave.
I think it may be a bit like Trump in the States. Everyone says 'Oh no - no one I know can tolerate The Donald' . . . yet the polls say otherwise.
Oct 7th, 2016, 02:02 PM
#19
Some of those may be closet Brexit-ers and just aren't admitting it since Cornwall went 57%-43% to leave.>>
definitely not, JJ, trust me. These are people who are in despair at the effect on the country, whether it be economic, cultural, political or social.
It probably reflects the sort of people I mix with!
definitely not, JJ, trust me. These are people who are in despair at the effect on the country, whether it be economic, cultural, political or social.
It probably reflects the sort of people I mix with!
Oct 7th, 2016, 10:44 PM
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"Some of those may be closet Brexit-ers"
There really aren't many. Lots of people don't shout how they voted from the rafters, but very few people disguise how they voted three months ago. The Remainian myth about people being too shy to tell the truth all come from Remainians in denial: there's not a shred of opinion poll or canvassing evidence for it.
What IS depressingly clear, though, is how many people now live in almost hermetically sealed bubbles where they simply don't meet (or at any rate talk to) people in the "other" camp on Brexit. And, on both sides, carry a belief in their side's moral superiority.
In my street (likeliest out-turn: 67% Remain), it's understandable why the Remainians are convinced everyone voted remain: windows were awash with In posters. But an extraordinary proportion of the street's Brexiteers still flatly deny the constituency overall voted to stay in: they socialise almost entirely with other Brexiteers.
Lots of explanations for this. One contributing factor is cleaners. Usually, England's geography is socially mixed: even in the poshest areas, there's lots of low-income housing within easy walking distance, so the most isolated toff used to get an idea of the rest of the world by chatting to the cleaners or the chap who did the garden.
With the desperate labour shortage in the richest areas (unemployment in my constituency in 0.7%, and no-one's managed to find any of them), the comfortably-off can't find those nice ladies round the corner any more. So they use agencies, who drive teams of intensively-managed Croats and Romanians round to clean in an hour what Tracey used to take a morning for. The migrants can't vote in national elections - and they've neither the time nor the fluency to talk politics.
And, with the local shop closed, you don't get any insight from checkout staff at the Waitrose five miles away either.
There really aren't many. Lots of people don't shout how they voted from the rafters, but very few people disguise how they voted three months ago. The Remainian myth about people being too shy to tell the truth all come from Remainians in denial: there's not a shred of opinion poll or canvassing evidence for it.
What IS depressingly clear, though, is how many people now live in almost hermetically sealed bubbles where they simply don't meet (or at any rate talk to) people in the "other" camp on Brexit. And, on both sides, carry a belief in their side's moral superiority.
In my street (likeliest out-turn: 67% Remain), it's understandable why the Remainians are convinced everyone voted remain: windows were awash with In posters. But an extraordinary proportion of the street's Brexiteers still flatly deny the constituency overall voted to stay in: they socialise almost entirely with other Brexiteers.
Lots of explanations for this. One contributing factor is cleaners. Usually, England's geography is socially mixed: even in the poshest areas, there's lots of low-income housing within easy walking distance, so the most isolated toff used to get an idea of the rest of the world by chatting to the cleaners or the chap who did the garden.
With the desperate labour shortage in the richest areas (unemployment in my constituency in 0.7%, and no-one's managed to find any of them), the comfortably-off can't find those nice ladies round the corner any more. So they use agencies, who drive teams of intensively-managed Croats and Romanians round to clean in an hour what Tracey used to take a morning for. The migrants can't vote in national elections - and they've neither the time nor the fluency to talk politics.
And, with the local shop closed, you don't get any insight from checkout staff at the Waitrose five miles away either.
