POUND DOING WELL

[Poppy]

And still "soaring" at 1.145 as I write
Ps OK I won't keep on and will just let you check the "good" news for yourselves!!

[Jimgward]

1.1471 now - which means it is getting better, rather than doing well..... Still only a 1% increase on weeks ago.... I’d classify “doing well” as 5 - 10% to recognise significance in it....

[PaphosAL]

Hope it's back to 1.25 by the time I come back in mid Feb!

[Firefly]

1.15 today, maybe even better to come after Wiggy's speech

Jackie

[Jimgward]

1.1448 now.... so only really slight fluctuations over the past week, 1% gain

[ApusApus]

Read a report recently that said the £ will jump on a Brexit conclusion whether it be a hard or soft one! So what else is happening in the World that will affect our exchange rate other than


Shane

[Dominic]

Imagine you are a market trader. When it is sunny, you sell sun hats, and make €5 profit per sale. When it is rainy, you sell umbrellas, and make €4 profit. Obviously, you want it to be sunny all the time, however, if you know in advance that it is going to rain, you can plan ahead and still make a profit. If you have no idea whether it is going to rain or be sunny, you can either gamble everything, and risk losing it all, or you can take 50% umbrellas and 50% sunhats. If you do that, you will break even or make a little profit, but not much. So when you know what the weather is going to do, you will make more money, whether it is wet or dry.

[Dominic]

It's currently 1.13.7

[Jimgward]

Indeed, we are only doing well against this weak dollar.... we also have a weak pound....

[Dominic]

Nonsense. The UK is behaving like a partner who wants to see other people because they need more space, but still expects three square meals a day and a back rub whenever they want.

[Dominic]

This is the Politics for Moderates section, so please tone down the rhetoric. And if you have to resort to the Daily Express for your sources you've kind of lost the argument already.

[ApusApus]

Nonsense. The UK is behaving like a partner who wants to see other people because they need more space, but still expects three square meals a day and a back rub whenever they want.

Sorry Dominic but from where I stand it's the other way round, the EU has been far more unreasonable in their approach to these "negotations" purely because they have so much to lose & can't afford for the UK to leave on favourable terms lest others follow suit!


Shane

[Dominic]

They aren't being unreasonable. The UK are the ones who want to leave. The UK just want to cherry pick the best bits. If everybody did the same there would be no EU. Either the UK are in or they are out. Expecting special conditions for stuff like financial services is just trying to have your cake and eat it.

[Dominic]

Not really, no. People know what c**p means. 'Nonsense' would have been better.

You don't need to suffer from broadsheet snobbery to recognise how bad the Daily Express is these days. Back in the days of Peter Tory it was a much better paper. These days it is just awful.

[exodus]

As I said Dominic, it was a Pertinent article. And yes it is the UK that wants to leave the UK, and whilst you may think it is "Cherry Picking" I think it is trying to negotiate a trade deal that is benificial to both parties...whilst it seems the EU is willing to "cut off its nose to spite its face". The UK will be out....and hopefully on good terms..dispite the threats. And in regard to financial services, perhaps London, as the SME's, is the best place for them...

I think you mean "..it is the UK that wants to leave the EU,"
Bearing in mind the EU sells much much more in value goods to the UK than does the UK to the EU, why does UK mess about so?
Just get on with it!
Nearly everyone outside of the UK wants to trade with UK separately from the EU, including most of the Middle and Far East, China, India, the Commonwealth (the clue is in the name!), and may I say my Country - Israel. The "Americas" also.
In the EU the UK cannot, for example, do a special deal on something with Israel - we are tied to EU rules, and we are not in the EU!
Everybody knows the EU might fall apart after UK leaves, plus they will be short of money.
It is not rocket science, a majority of the British voters can see that and voted accordingly. Outside of the UK and EU
other countries want to know what UK will be able to offer them, what good deals to give both them and UK growth.
Amos.

[JimX]

If the vote to leave the EU was now I am sure it would be to stay, this exit vote is a disaster in the making, the pound is worth almost a third less since the vote went bad this certainly effects those who have UK funds including pensions, we were duped by politicians who had no idea what an exit vote would mean, they did not know then as we do not know now, god help us all.

Not obvious I did vote to remain and would still do so. I never read the side of buses!!

[exodus]

If the vote to leave the EU was now I am sure it would be to stay, this exit vote is a disaster in the making, the pound is worth almost a third less since the vote went bad this certainly effects those who have UK funds including pensions, we were duped by politicians who had no idea what an exit vote would mean, they did not know then as we do not know now, god help us all.

Not obvious I did vote to remain and would still do so. I never read the side of buses!!

Surely academic now.
Time for the bickering about this to stop, and now grasp the opportunity Brexit will bring.
Not just the UK will benefit by it, many other countries will also. The only losers will be the 27 EU States.
Amos.

[JimX]

Not necessarily so, this EU exit is going bad as many of us thought it would, we will be well out of it by the time the UK recovers, lets face it lot of folks voted to slow incoming UK immigration, well it has succeeded in doing that, by half, trouble is the jobs they would fill most Brits would never do them.

A gripe Amos why do you insist on quoting everyone's post? mine was above yours, totally unnecessary, is it just a habit?

Please read my last post again, many of us ex-pats only have UK pensions, we are already a third worse off, you may think this is OK but for sure we don't! as I said it is a disastrous vote.

[exodus]

Reply to Allesley:
I can understand about British Expat's pensions - my own is in US$, which has performed better of late than the GBP.
I am not saying that is OK, clearly for those affected it is not, but the GBP was on the way down before your referendum.
As I see it the good news for you is that once you have left the EU your pension should improve as the GBP improves and the Euro takes a dive.
(In my opinion)
Amos.

[trevnhil]

On the 23rd of June 2016, the exchange rate was 1.3039.. If some people think that pensions have gone down by a third since then... Think Again.. If it had reduced by a third.... then the exchange rate would be giving you 0.87 Euros for every pound of your pension...
The rate is not that low, it stands today at around 1.14 ..
So yes pensions have reduced from what they were when the brexit vote was taken, but not by the percentage rate mentioned above. It is more like a 12% reduction..