Could this possibly be seen as a hint of good news?

[Jim B]

Hudswell
For you the exchange rate is 1.12, for 99% of people changing money it's 1.07 so what's the exchange rate. For you it's 1.12, for my sister it's 1.07; who is right?

You are in the fortunate position of being able to use a currency transfer company, most people are not


Jim

[Jimgward]

1.1185 in Revolut at 11am GMT. So it’s easy for joe bloggs to get decent rates.
However, I’d question people thinking that a cent move shows resilience or growth. When it moves above 1:15 I’ll accept confidence. I think it’s more likely to fall to 1 in October with the shambolic no deal scenario.

[Jim B]

Hudswell
We are arguing the same point. I do exactly the same as you using Transferwise, unfortunately the exchange rate given to the vast majority at currency exchanges bears no relation to the rate provided on TV . It's the rate you get at the point of exchange that matters, not what's shown on TV..
Jim

[Jim B]

Hudswell
I'm not talking about me; I get a reasonable exchange rate with Transferwise and will get around the rate quoted on TV but like you I'm in a very small minority.
The vast majority of people exchanging money will get around 1.07 so the figure quoted 1.12 is irrelevant to them.
Jim

[Dominic]

Regarding exchange rates, people on this forum normally quote the published figure, which they can verify online, as opposed to whatever price you can get down at the harbour. So Hudswell is doing nothing devious by doing this. He is just sticking to what has become the accepted norm.

[Jim B]

Dominic
I'm not suggesting otherwise, we were disagreeing (as usual) what the actual exchange rate is.

Jim

[June]

Dominic
I'm not suggesting otherwise, we were disagreeing (as usual) what the actual exchange rate is.

Jim

Jim you live here, I'm not quite sure where but you have been a member on here long enough to know from other members' postings that the best exchange for tourists is down by the harbour. Why on earth did you not advise your sister to bring sterling and exchange here? The Post Office rate is rubbish comparatively and I only use it to buy say...100 euros to see me thru the first day. Thereafter I take my £'s to the Pink House where I get 1/2 cents below the market rate..

[Jim B]

June
You are right.
It only came up in conversation on Monday; I should have mentioned it earlier.
Jim

[kingfisher]

Some solid and well researched statistics on the current state of the City of London. Good graphics. On the Reuters UK site.
There is also an edited version on Yahoo UK Finance. More info, easier to read.
https://graphics.reuters.com/BRITAIN-EU ... index.html
https://uk.finance.yahoo.com/news/brexi ... ector.html

[Jimgward]

Kingfisher. Very good stats

The most worrying is the decline in jobs in London financial. That won’t change until brexit deal is done. Hopefully it will pickup. We are overly reliant on London and the financial services in the uk, making us overly susceptible to sharp declines. Property prices have been based too much on purchases from China and Russia at the higher end.

The eu doesn’t like this open financial sector that is open to abuse. Under brexit we would have to question whether we should continue to be the place where dirty money has a home.

[kingfisher]

Jim- A total jobs loss of 600 out of a workforce of 282,000 in the City alone doesn’t worry me one little bit. [0.02%]
The bottom line is that forex trading volumes have increased by 23% in the year ended April, to 2.1 TRILLION POUNDS PER DAY- more than double the figure in N.Y.

Jon.

[ApusApus]

I must admit the figures & graphs make interesting reading, better than the speculative tabloids trying to increase their circulation!


Shane

[June]

Lloyd,,,what usual scams?
I've been exchanging money at the Pink House 3/4 times a year for the last 5 years and never had a problem.
Would you care to PM me where you had this unfortunate experience please?

[Jimgward]

Jim- A total jobs loss of 600 out of a workforce of 282,000 in the City alone doesn’t worry me one little bit. [0.02%]
The bottom line is that forex trading volumes have increased by 23% in the year ended April, to 2.1 TRILLION POUNDS PER DAY- more than double the figure in N.Y.

Jon.

I agree it's minuscule, but the reverse is a trend and we don't want that continuing..... but as I also said, we also don't want financial business at any cost. We are almost the money laundering capital of the world as well...!

[Jim B]

For every argument there is a counter argument and the below article from Forbes provides some statistics
The 600 job losses in the city doesn't worry you one little bit Jon, but it's not your job is it? Have you ever been made redundant; I have and it's not a nice situation to find yourself in especially when there's no rhyme nor reason for it.
Jim

https://www.forbes.com/sites/investor/2 ... b092513605

[Dominic]

Nobody likes being made redundant, but in the context of "the whole country", 600 jobs is neither here nor there.

[Jim B]

It is if it's your job and there was no need for it.

Jim

[Firefly]

Jim

As it happens I have been made redundant, and it was before we joined the EU, so you get up and find another job, as I did.

[Jim B]

That's OK if there's jobs available though seeing that they are mainly being lost in the financial sector other jobs in that sector will be hard to find.
I wonder how much in benefits will have to be paid out for 600 workers and families ( where applicable)until they find other jobs, if they can of course. Another price of Brexit..

Jim

[Firefly]

No I don't agree, there are jobs out there if you really need, or indeed want to work, but you also have to be flexible and maybe travel, but there are those who will not.

Jobs were hard to come by when I let school, being a baby boomer, (not caused by Brexit), but I and my fiends all found one, 'seek and ye shall find'.

Jackie