GBP slipping rapidly

[foxy lady 10]

Why did the FTSE go up? Ah yes, because it is chockful of foreign stocks, particularly those exploiting mineral resources. Confidence in that sector is going up, them being traded in a currency that is sliding is an extra bonus.

 

Don't believe me? Google it. You are great at bringing up nonsense stats out of context but it is pretty clear you have zero understanding of what you are arguing.

 

The fact that even the BBC news opened with the pound sliding due to Brexit stories doesn't seem to prevent you from defending the indefensible.

 

I suspect I do rather more dealings on the stock market than you do, which is why you perhaps you missed the FT ALL SHARE index also rose 44 points today, brim full of all those UK small businesses. But nice try all the same.

 

http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/indices/summary/summary-indices.html?index=ASX

Edited February 22, 2016 by foxy lady

[MLAR 10]

I suspect I do rather more dealings on the stock market than you do, which is why you perhaps you missed the FT ALL SHARE index also rose 44 points today, brim full of all those UK small businesses. But nice try all the same.

 

http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/indices/summary/summary-indices.html?index=ASX

 

In fairness, the Nikkei and Nasdaq were also strongly up today. That had nothing to do with Brexit, just like the FTSE gains.

 

That's just the way markets are. They tend to follow the herd.

[foxy lady 10]

In fairness, the Nikkei and Nasdaq were also strongly up today. That had nothing to do with Brexit, just like the FTSE gains.

 

That's just the way markets are. They tend to follow the herd.

 

What you mean is markets can go up or down. But then only the FTSE is a market of UK listed stock, which is why it didn't cave in when the Japanese market did a couple of decades ago.

 

https://upload.wikimedia.org/wikipedia/commons/8/8d/Nikkei_225%281970-%29.png

Edited February 23, 2016 by foxy lady

[MLAR 10]

What you mean is markets can go up or down.

 

I do.

 

I was also trying to point out the lack of intellectual basis behind your claim that a market going up for a day was anything that you could hang an argument on.

 

Ah well.

[foxy lady 10]

I do.

 

I was also trying to point out the lack of intellectual basis behind your claim that a market going up for a day was anything that you could hang an argument on.

 

Ah well.

 

A bit like a small fluctuation in the value of Sterling then.

[kidley 48]

The FTSE rising or falling is nothing to do with the value of the pound,

One reason the FTSE is rising is that, the big oil company's are increasing in value because oil is increasing in value, the same applies to other big companies in the FTSE. The pound is a totally different thing, the FTSE can be sky high and the pound very low the two are not reliant on each other.

[MobileB 10]

Oil prices rising. Pounds freefalling against the dollar. Watch the price of petrol.

[spilldig 188]

I think some people are only bothered about how many euros they will get for their holidays rather than boosting british manufacturing.You will find that many british manufacturers would like the value of the pound to reduce including the owner of JML.My heart lies with Britain not the Costa del Sol.And just to support my argument i will include this link.

 

http://www.purefx.co.uk/foreign-currency-exchange-advice/view/what-are-the-advantages-of-a-strong-and-weak-pound

 

Good grief. It's got nothing to do with holidays. Sterling should never be devalued because some manufactures want easy money and can't be bothered to sell their product properly. Make the pound worthless but never mind, we might export a bit. Brilliant.

[Blackbeard 10]

Good grief. It's got nothing to do with holidays. Sterling should never be devalued because some manufactures want easy money and can't be bothered to sell their product properly. Make the pound worthless but never mind, we might export a bit. Brilliant.

 

The Chinese have the right idea, maybe?

"The recent decline in China’s currency, the renminbi, which has fuelled turmoil in Chinese stock markets and drove the government to suspend trading twice last week, highlights a major challenge facing the country: how to balance its domestic and international economic obligations. The approach the authorities take will have a major impact on the wellbeing of the global economy."

http://www.theguardian.com/business/2016/jan/13/perils-of-china-currency-devaluation-yuan-renminbi

[ghost rider 10]

Good grief. It's got nothing to do with holidays. Sterling should never be devalued because some manufactures want easy money and can't be bothered to sell their product properly. Make the pound worthless but never mind, we might export a bit. Brilliant.

 

I assume you have a vested interest in the value of the pound,i do not.I do not spend my money abroad or have any global shares,i only care about this country and this is where i spend my money and all my investments.I lost a lot of money because of the global meltdown and i absolutely have no time for the global economy anymore.What happens to some other countries in the world does not bother me anymore.The devaluing of the pound will not bother me one iota but if it creates more jobs for british companies then i will be happy.I had to laugh at the business leaders of the big companies signing a letter to stay in the EU.They explained that they need access to the 500 million people jobs market in the EU to create jobs in britain.So what they are basically saying is that they want to bring cheap labour in from europe to do all those jobs that they are creating while providing no jobs for Brits but creating healthy profits for the big business fat cats.It all stinks and i want nothing to do with it anymore.

[JFKvsNixon 11]

I assume you have a vested interest in the value of the pound,i do not.I do not spend my money abroad or have any global shares,i only care about this country and this is where i spend my money and all my investments.I lost a lot of money because of the global meltdown and i absolutely have no time for the global economy anymore.What happens to some other countries in the world does not bother me anymore.The devaluing of the pound will not bother me one iota but if it creates more jobs for british companies then i will be happy.I had to laugh at the business leaders of the big companies signing a letter to stay in the EU.They explained that they need access to the 500 million people jobs market in the EU to create jobs in britain.So what they are basically saying is that they want to bring cheap labour in from europe to do all those jobs that they are creating while providing no jobs for Brits but creating healthy profits for the big business fat cats.It all stinks and i want nothing to do with it anymore.

 

If the value of the pound dropped, things that are imported would become more expensive for us all. It wouldn't be a good thing.

[ghost rider 10]

If the value of the pound dropped, things that are imported would become more expensive for us all. It wouldn't be a good thing.

 

That is the problem.We should be buying british food but we are eating cheap imported food which is bad for british companies.I prefer to get meat from local farmers markets which is not the cheapest but at least i know where it has come from.I do not do things on the cheap i like quality.