GBP slipping rapidly

[foxy lady 10]

Very poor lie there. Until 2008 the pound was buying €1.40. Now it's buying less than €1.30. I wouldn't base your arguments on lies that are easily disproved. It's not gong to fool anyone but you.

 

Oh dear you got it wrong again. Between 2000 and 2009 the Pound plummeted from 1.7 to 1.02 Euros before climbing back to 1.3/1.4 over the next 5 years.

http://www.pounds2euro.com/Charts

 

I wouldn't base your arguments on lies that are easily disproved. It's not gong to fool anyone but you.

 

http://www.telegraph.co.uk/finance/economics/12043677/UKs-trade-deficit-in-goods-with-EU-hits-record-high.html

 

10 Dec 2015

 

The UK’s trade deficit with the European Union in goods has widened to its largest level on record, reflecting sterling's ascent against a weakening euro.

 

The goods deficit with the EU grew to £8.1bn in October, a record level, according to Office for National Statistics (ONS) figures. The deficit with the EU was driven largely by the UK’s trade with members of the ailing eurozone group of countries.

 

The value of the euro has fallen against the pound since the start of the year, reflecting the weakness of the currency bloc and the extension of a quantitative easing scheme by the European Central Bank.

 

A cheaper euro has made UK exports less competitive, and reduced demand for them on the continent. Kallum Pickering, of Berenberg, said that sterling's appreciation against the euro "has been mimicked in the trade balance".

 

"The upside for the UK is that this is probably as bad as it’s going to get," he said. However, "there is unlikely to be a significant improvement" either. The UK’s manufacturers will have to hope that the eurozone’s recovery can pick up pace.

Edited February 22, 2016 by foxy lady

[Bonjon 10]

I wish it would start to recover, I want to buy some holiday euro's!!

 

At this point if I see the purchase price for euro's hit 1.30 to the pound i'll have to bite, last year I exchanged at over 1.40 to the pound

[spilldig 188]

It might give us a chance to manufacture our own goods instead of importing cheap rubbish.The value of the pound is too high anyway,that is why manufacturing is declining in britain.

 

How the heck do you make that out? As I said in post number 22 it should be back where it was at nearly 2 Euros to the £ and US$4 to the £. We should not have to devalue sterling in order to export more.

[tzijlstra 11]

Oh dear you got it wrong again. Between 2000 and 2009 the Pound plummeted from 1.7 to 1.02 Euros before climbing back to 1.3/1.4 over the next 5 years.

http://www.pounds2euro.com/Charts

 

I wouldn't base your arguments on lies that are easily disproved. It's not gong to fool anyone but you.

 

http://www.telegraph.co.uk/finance/economics/12043677/UKs-trade-deficit-in-goods-with-EU-hits-record-high.html

 

10 Dec 2015

 

The UK’s trade deficit with the European Union in goods has widened to its largest level on record, reflecting sterling's ascent against a weakening euro.

 

The goods deficit with the EU grew to £8.1bn in October, a record level, according to Office for National Statistics (ONS) figures. The deficit with the EU was driven largely by the UK’s trade with members of the ailing eurozone group of countries.

 

The value of the euro has fallen against the pound since the start of the year, reflecting the weakness of the currency bloc and the extension of a quantitative easing scheme by the European Central Bank.

 

A cheaper euro has made UK exports less competitive, and reduced demand for them on the continent. Kallum Pickering, of Berenberg, said that sterling's appreciation against the euro "has been mimicked in the trade balance".

 

"The upside for the UK is that this is probably as bad as it’s going to get," he said. However, "there is unlikely to be a significant improvement" either. The UK’s manufacturers will have to hope that the eurozone’s recovery can pick up pace.

 

The Euro AND Dollar gained 2p each against the Pound today, on the back of Boris Johnson campaigning for Brexit. You don't have to believe it, it is completely irrelevant whether you do or not, the simple fact is that all the Forex trade-fora and news sources are discussing the potential impact of Brexit on the value of the pound.

 

You know what is really telling? They are NOT discussing the potential impact of Brexit on the Euro.

 

You think on that for a while.

[foxy lady 10]

The Euro AND Dollar gained 2p each against the Pound today, on the back of Boris Johnson campaigning for Brexit. You don't have to believe it, it is completely irrelevant whether you do or not, the simple fact is that all the Forex trade-fora and news sources are discussing the potential impact of Brexit on the value of the pound.

 

You know what is really telling? They are NOT discussing the potential impact of Brexit on the Euro.

 

You think on that for a while.

 

I wouldn't worry. The impact on the Euro was near collapse a while ago when the Greeks were deciding whether to default or not. They were certainly discussing the Euro then when it dropped against all major currencies.

 

http://www.bloomberg.com/news/articles/2015-07-05/euro-drops-as-greece-votes-no-to-austerity-demands-kiwi-falls

 

 

The situation is just going through normal fluctuations and will stabilize once the status quo is reached.

 

By the way the FTSE rose 36 points today. Did you miss that?

 

You think on that for a while.

 

---------- Post added 22-02-2016 at 20:21 ----------

 

I wish it would start to recover, I want to buy some holiday euro's!!

 

At this point if I see the purchase price for euro's hit 1.30 to the pound i'll have to bite, last year I exchanged at over 1.40 to the pound

 

I think it is being put down to Dennis Skinner falling in with the BREXIT side. Aparrently it wiped 2 cents off the value of the Pound.

Edited February 22, 2016 by foxy lady

[ghost rider 10]

How the heck do you make that out? As I said in post number 22 it should be back where it was at nearly 2 Euros to the £ and US$4 to the £. We should not have to devalue sterling in order to export more.

 

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

Edited February 22, 2016 by ghost rider

[I1L2T3 10]

Ah so you are arguing that Boris backing leaving is a game changer and because that means we will leave the EU Sterling plumetted (based on 5 minutes trading this morning)? Or are you arguing that Boris joining the out camp means we will now stay in the EU which has caused Sterling to plummet? We need to know. :hihi:

 

I'm not arguing any of the things you are suggesting.

 

I was arguing that the referendum would impact the markets. You were arguing it wouldn't. Today it definitely has. So you were wrong. And I was right. Simple.

 

Probably time to stop digging foxy.

[MobileB 10]

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

 

I think you find most companies that import and export, particularly small ones, would want stability of the exchange rate. To manage a 12% plus shift in the rate in a four month period you need the cash flow to support it. Expect a few companies to go to the wall in next few months. That is not about in or out but the lack of stability.

[nomoney 10]

we export a lot of sandwiches,believe it or not.

[foxy lady 10]

I'm not arguing any of the things you are suggesting.

 

I was arguing that the referendum would impact the markets. You were arguing it wouldn't. Today it definitely has. So you were wrong. And I was right. Simple.

 

Probably time to stop digging foxy.

 

Yes it certainly has impacted markets. The FTSE went up another 36 points today. That's about 200 points over the last week or so.

 

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

 

Probably time to stop digging.

Edited February 22, 2016 by foxy lady

[tzijlstra 11]

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.

[kidley 48]

The consensus of opinion off the experts on these matters is, the pound will slide due to uncertainty.

But once the poll is over it will bounce back (whether we are in or out) how far is anybody's guess.