POUND DOING WELL

[Poppy]

Well the pound is steadily creeping up and this mornings' exchange rate is 1.14! There seems to be more optimism about re BREXIT and that surely can only be a good thing?

[Jimgym]

Sssshhhh!

[Dominic]

It's a sorry state of affairs when 1:14 is considered a good rate, but any increase is not to be sniffed at.

What is the optimism of which you speak? Is it optimism for a hard brexit, soft brexit, or any brexit?

[ApusApus]

Poppy could be referring to this article amongst others which appeared yesterday!

http://www.bbc.com/news/business-42769090


Shane

[Poppy]

Yes you are right Shane - similar article but in another publication!
And indeed although the pound has some way to go many feel that 1.20 would be the optimum rate and I do recall some predictions on here not so long ago that the pound would hit parity with the Euro by now . That certainly does not look the case.
Of course there are articles about still predicting doom and gloom but the tide seems to have changed and there are now more positive ones.

[Jimgward]

Any improvement in the pound suits most of us well..... and has to happen to allow the purchasing of raw materials by manufacturers.... otherwise their output will dip again...

I'm pleasantly surprised that the whole Clarillion fiasco didn't have a negative impact - as that has been a cluster-f*** of mistakes and we are now looking at debts of over £4bn and rising.... an estimate initially of 600m for a pension shortfall has tripled - apparently the company 'dipped' their pension pot....

[Dominic]

Had you moved over in 2012 the rate could have been e1.27.

Look at the historical value, since 1999:

https://www.poundsterlinglive.com/bank- ... GBP-to-EUR

[Poppy]

Dominic you are putting words into our mouths! No one has said that 1.14 is a good rate and in fact I said that I thought 1.20 was the optimum rate and I think if you have the time to average it out from the last 6 years or so or even 1999 you will find it probably averages out at about 1.20.

[trevnhil]

We moved over in the Winter of 2006/7 when the rate was 1-50

[Jimgward]

I think the real rate should be around 1.23 - 1.25

[Poppy]

Trevor it may well have been 1.50 but not in Cyprus as they did not join the eurozone until 2008. Jim I think you are probably right and 1.20 is a little low.

[ApusApus]

I agree with that but it's a gut feel only!


Shane

[trevnhil]

Trevor it may well have been 1.50 but not in Cyprus as they did not join the eurozone until 2008. Jim I think you are probably right and 1.20 is a little low.

Very true, but even in January 2008 it was 1.33

[Dominic]

Dominic you are putting words into our mouths! No one has said that 1.14 is a good rate and in fact I said that I thought 1.20 was the optimum rate and I think if you have the time to average it out from the last 6 years or so or even 1999 you will find it probably averages out at about 1.20.

This thread is titled "POUND DOING WELL". So what words did I put in your mouth?

[Poppy]

Don't be pedantic! Doing well means improving it does not mean good!

[Dominic]

Yes it does! Nothing pedantic about it at all. You said I was putting words into your mouth. I wasn't.

Had you said "POUND IMPROVING", my post would have been a bit different.

[Uncle D]

Well the pound is steadily creeping down and this mornings' exchange rate is 1.1392! There seems to be more pessimism about re BREXIT and that surely can only be a bad thing?

[Poppy]

Whoops!! And now back to 1.14 again as of now and of course doing incredibly well against the US Dollar and for the avoidance of any doubt, "doing well" in my speak means doing well - not necessarily good but better than it was.

[exodus]

Whoops!! And now back to 1.14 again as of now and of course doing incredibly well against the US Dollar and for the avoidance of any doubt, "doing well" in my speak means doing well - not necessarily good but better than it was.

We all know what you meant!
The Tax Dept advised that the £>€ rate for 2017 returns should be 1.123
That is not a daily thing, it is all year. Now at 1.13 - 1.14 ish; £ IS DOING WELL
I am personally more interested in the US$ - which is NOT doing so well of late.
Amos.

[Poppy]

Wow!! Now soaring at 1.142!!! HIC I am surprised that you did not wait to comment until daily trading re-commenced.