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"Why because are economy is much stronger than any in the EU and a deal has been done on financial services. Another nail in remoaners coffin" How many in the City knew that was story was about to break in the London Times - most of the Cabinet have the City on their CVs, remember - and made a small fortune correctly predicting the £ would go up when the stock exchange opened in Tokyo? Who do you think fed the line to the Times? | |||
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"Why because are economy is much stronger than any in the EU and a deal has been done on financial services. Another nail in remoaners coffin How many in the City knew that was story was about to break in the London Times - most of the Cabinet have the City on their CVs, remember - and made a small fortune correctly predicting the £ would go up when the stock exchange opened in Tokyo? Who do you think fed the line to the Times? " lets not ignore number ten has said there is no deal as yet. My understanding is they’ve agreed how to sever any mutual recognition. Something like only 30 days notice is needed ! | |||
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"Why because are economy is much stronger than any in the EU and a deal has been done on financial services. Another nail in remoaners coffin How many in the City knew that was story was about to break in the London Times - most of the Cabinet have the City on their CVs, remember - and made a small fortune correctly predicting the £ would go up when the stock exchange opened in Tokyo? Who do you think fed the line to the Times? lets not ignore number ten has said there is no deal as yet. My understanding is they’ve agreed how to sever any mutual recognition. Something like only 30 days notice is needed !" To my understanding ? Nothing is agreed until everything agreed And yes it's gone from 128 , the lowest I've ever known up to Gosh 130 the previous lowest where it has been rolling between 129 and 132 for , well pretty much since brexit | |||
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"Why because are economy is much stronger than any in the EU and a deal has been done on financial services. Another nail in remoaners coffin How many in the City knew that was story was about to break in the London Times - most of the Cabinet have the City on their CVs, remember - and made a small fortune correctly predicting the £ would go up when the stock exchange opened in Tokyo? Who do you think fed the line to the Times? lets not ignore number ten has said there is no deal as yet. My understanding is they’ve agreed how to sever any mutual recognition. Something like only 30 days notice is needed ! To my understanding ? Nothing is agreed until everything agreed And yes it's gone from 128 , the lowest I've ever known up to Gosh 130 the previous lowest where it has been rolling between 129 and 132 for , well pretty much since brexit " You must be very young then it was 1.20 mid jan 2017 | |||
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"I was importing from Europe at exchange rates of around 1.06 about 9 years ago and just had to get on with it. Makes business challenging but that's business." That's the risk everybody has to contend with the "FX" rate! When we bought our 1st place we got 1.60€ and then it dipped and then it rose again until we got back to 1.42€ - and it's dipped again. Hence the countries who are in the Euro are cushioned when the trade amongst each other! | |||
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"Why because are economy is much stronger than any in the EU and a deal has been done on financial services. Another nail in remoaners coffin"  | |||
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"It could have been 1.65, if remain won. So being positive about 1.28, its like being happy that you got half a cake for your birthday. Its time the remain side got a grip .when things go right they will want all the credit .no chance put the dummies back in " | |||
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"It could have been 1.65, if remain won. So being positive about 1.28, its like being happy that you got half a cake for your birthday. Its time the remain side got a grip .when things go right they will want all the credit .no chance put the dummies back in " You mean you think that Brexit will be cancelled? Awesome 
But, seriously, no-one is trying to take any credit, just trying to put things in perspective. Take a look at the 5 year chart of GBP/EUR and you see what is meant. This latest rise is great, but still hardly even visible on a chart of a few years.
-Matt | |||
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"Why because are economy is much stronger than any in the EU and a deal has been done on financial services. Another nail in remoaners coffin" Have not heard this but if it is true then maybe we can make brexit work. But I for one will wait till it is confirmed in a treaty before celebrating. | |||
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"Why because are economy is much stronger than any in the EU and a deal has been done on financial services. Another nail in remoaners coffin Have not heard this but if it is true then maybe we can make brexit work. But I for one will wait till it is confirmed in a treaty before celebrating." Yes, there has been some mention that the UK has a deal on the table with the EU in which we will keep equivalent standards and regulations to the EU... but without any say in them. I'm sure all those plucky northern leavers will be cheering with joy that the government has managed to make sure that the City of London financial services will be looked after. I wonder if the equivalence extends to the new EU Anti Tax-Avoidence laws that are coming in... you know those laws that the fat cats don't want, hence voting to leave the EU? -Matt | |||
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"It could have been 1.65, if remain won. So being positive about 1.28, its like being happy that you got half a cake for your birthday. " How do you know this?Answer you don't and your not a phycic,just your warped little mind more like it | |||
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"It could have been 1.65, if remain won. So being positive about 1.28, its like being happy that you got half a cake for your birthday. How do you know this?Answer you don't and your not a phycic,just your warped little mind more like it" You’re right. No one knows what the alternative universe would look like. So we shouldn’t attribute a small rise as being a nail in the coffin. It proves nothing.  | |||
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"Why because are economy is much stronger than any in the EU Another nail in remoaners coffin" Is it ? | |||
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"Why because are eiconomy is much stronger than any in the EU Another nail in remoaners coffin Is it ?" I'd love the £ to rise - 2€ =£ would be brilliant - but flying pigs ain't going to happen! | |||
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"Why because are economy is much stronger than any in the EU and a deal has been done on financial services. Another nail in remoaners coffin" The pound has risen to the level it was a couple of weeks ago against the Euro. It is currently 1.1395. quite how that is a) worth celebrating or b) indicative of anything significant, is entirely beyond me | |||
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"It could have been 1.65, if remain won. So being positive about 1.28, its like being happy that you got half a cake for your birthday. Its time the remain side got a grip .when things go right they will want all the credit .no chance put the dummies back in " I am just giving a little perspective on the matter, is that wrong? | |||
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"It could have been 1.65, if remain won. So being positive about 1.28, its like being happy that you got half a cake for your birthday. How do you know this?Answer you don't and your not a phycic,just your warped little mind more like it" No, I meant just before the result, and for being psychic?, it doesn’t take a genius to realise that cutting your nose to spite your face is stupid. | |||
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"Why because are economy is much stronger than any in the EU and a deal has been done on financial services. Another nail in remoaners coffin" Dropped below 1.27 late yesterday. | |||
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"Why because are economy is much stronger than any in the EU and a deal has been done on financial services. Another nail in remoaners coffin Dropped below 1.27 late yesterday." Don't worry once we become the 51st state we'll all be using the $  | |||
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"Why because are economy is much stronger than any in the EU and a deal has been done on financial services. Another nail in remoaners coffin Dropped below 1.27 late yesterday. Don't worry once we become the 51st state we'll all be using the $ "Investors in the US are getting spooked by the flattening and now inversion of the Yield Curve. The US is heading for recession in 12 months should it continue on this path. | |||
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"Why because are economy is much stronger than any in the EU and a deal has been done on financial services. Another nail in remoaners coffin Dropped below 1.27 late yesterday. Don't worry once we become the 51st state we'll all be using the $
Investors in the US are getting spooked by the flattening and now inversion of the Yield Curve.
The US is heading for recession in 12 months should it continue on this path."Oh fuck best join the € then | |||
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"Why because are economy is much stronger than any in the EU and a deal has been done on financial services. Another nail in remoaners coffin Dropped below 1.27 late yesterday. Don't worry once we become the 51st state we'll all be using the $
Investors in the US are getting spooked by the flattening and now inversion of the Yield Curve.
The US is heading for recession in 12 months should it continue on this path.
Oh fuck best join the € then " | |||
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"It could have been 1.65, if remain won. So being positive about 1.28, its like being happy that you got half a cake for your birthday. " where did you pull that figure from? | |||
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"It could have been 1.65, if remain won. So being positive about 1.28, its like being happy that you got half a cake for your birthday. where did you pull that figure from?" Actually on 30/12/99 (just 19 yrs ago) the £ = 1.60€ source bank of england | |||
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"Down to 1.10 @ the moment!" Great for exporters. | |||
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"Down to 1.10 @ the moment! Great for exporters." As long as you’re not importing raw materials or components | |||
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"If things carry on like they are we'll make Zimbabwe and Venezuela's economies look like paragons of virtue. The warning signs are there. We are in for a good old fashioned dose of inflation." Be nice to get back to the good old days - interest rates in double figures - good for savers - bad for borrowers! | |||
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"Down to 1.10 @ the moment! Great for exporters." Not great when we are a country which imports more than we export and when commodities are priced in $$$. | |||
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"Down to 1.10 @ the moment! Great for exporters. Not great when we are a country which imports more than we export and when commodities are priced in $$$. " So it's the $ rate we should focus on then? | |||
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"Down to 1.10 @ the moment! Great for exporters. Not great when we are a country which imports more than we export and when commodities are priced in $$$. So it's the $ rate we should focus on then?" It depends where you live - 1.10 was the Euro rate - it's gone up to 1.11 today! Generally if a currency drops/rises it tends to do so against a basket of currencies. | |||
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"Down to 1.10 @ the moment! Great for exporters. Not great when we are a country which imports more than we export and when commodities are priced in $$$. So it's the $ rate we should focus on then?" In pure economic terms yes. Selfishly, I'm more interested in the Euro rate. | |||
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"Down to 1.10 @ the moment! Great for exporters. Not great when we are a country which imports more than we export and when commodities are priced in $$$. So it's the $ rate we should focus on then? It depends where you live - 1.10 was the Euro rate - it's gone up to 1.11 today! Generally if a currency drops/rises it tends to do so against a basket of currencies. " The mid market rate was around 1.1145 last night. Marginally down on that at the moment (1.1116) | |||
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"What's going on with the pound today. Is it a dead cat bounce ???"Probable reasons for this. Worldwide Bond problem possibly and also less likelyhood of a no deal brexit. The pound has pretty much followed the news of the chances of a no deal brexit. | |||
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"Does the OP still believe that the currency valuation against the Euro and Dollar is "Another nail in remoaners coffin"? " These regurgitated threads are making me laugh. | |||
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"The pound will rise and fall just the same as any other currency the market will always find something to make it rise or fall .The whole system is based on an illusion but everything is so entwined in it that unfortunately its what makes the world go round. " When the € came into being 19 years ago the £ was worth 1.7€ now it is 1.05 to 1.1€ the trend is down, a few points rise every now and then does not change the trend. The trend is driven by our economy which is driven by economic policy. If we want to halt the decline of our currency we need to reverse the policies that have led to the decline of our economy. | |||
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"The pound will rise and fall just the same as any other currency the market will always find something to make it rise or fall .The whole system is based on an illusion but everything is so entwined in it that unfortunately its what makes the world go round. When the € came into being 19 years ago the £ was worth 1.7€ now it is 1.05 to 1.1€ the trend is down, a few points rise every now and then does not change the trend. The trend is driven by our economy which is driven by economic policy. If we want to halt the decline of our currency we need to reverse the policies that have led to the decline of our economy." Having a low pound doesn't always make it bad.Think of all those tourists coming to the uk now as its cheap.Me selling my house in spain and making 1/3 just on exchange rates. and more people buying british. | |||
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"The pound will rise and fall just the same as any other currency the market will always find something to make it rise or fall .The whole system is based on an illusion but everything is so entwined in it that unfortunately its what makes the world go round. When the € came into being 19 years ago the £ was worth 1.7€ now it is 1.05 to 1.1€ the trend is down, a few points rise every now and then does not change the trend. The trend is driven by our economy which is driven by economic policy. If we want to halt the decline of our currency we need to reverse the policies that have led to the decline of our economy.Having a low pound doesn't always make it bad.Think of all those tourists coming to the uk now as its cheap.Me selling my house in spain and making 1/3 just on exchange rates. and more people buying british. " exactly this | |||
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"The pound will rise and fall just the same as any other currency the market will always find something to make it rise or fall .The whole system is based on an illusion but everything is so entwined in it that unfortunately its what makes the world go round. When the € came into being 19 years ago the £ was worth 1.7€ now it is 1.05 to 1.1€ the trend is down, a few points rise every now and then does not change the trend. The trend is driven by our economy which is driven by economic policy. If we want to halt the decline of our currency we need to reverse the policies that have led to the decline of our economy.Having a low pound doesn't always make it bad.Think of all those tourists coming to the uk now as its cheap.Me selling my house in spain and making 1/3 just on exchange rates. and more people buying british.
exactly this "Yey so the UK becomes corfu | |||
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"How many people base their holiday plans on currency strength? It doesn't cross my mind. Congrats on the increase on your balance sheet. Are you cashing in? " Yes as soon as possible make hay while the sun shines.Its not just the currency strength hotel prices are determined by it car hire food and drink in fact everything. | |||
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"How many people base their holiday plans on currency strength? It doesn't cross my mind. Congrats on the increase on your balance sheet. Are you cashing in? " At this rate, me and my fella will be moaning in the proper Scuff McDuff bars | |||
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"Having a low pound doesn't always make it bad.Think of all those tourists coming to the uk now as its cheap.Me selling my house in spain and making 1/3 just on exchange rates. and more people buying british. "Making every import more expensive though which hits every single person in the country | |||
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"How many people base their holiday plans on currency strength? It doesn't cross my mind. Congrats on the increase on your balance sheet. Are you cashing in? " Me neither, I go where I want and purchase currency whatever the rates, just like last week lol | |||
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"Having a low pound doesn't always make it bad.Think of all those tourists coming to the uk now as its cheap.Me selling my house in spain and making 1/3 just on exchange rates. and more people buying british.
Making every import more expensive though which hits every single person in the country "Not if you don't buy from overseas | |||
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"Having a low pound doesn't always make it bad.Think of all those tourists coming to the uk now as its cheap.Me selling my house in spain and making 1/3 just on exchange rates. and more people buying british.
Making every import more expensive though which hits every single person in the country
Not if you don't buy from overseas"But 90% of UK manufacturing source their raw materials from abroad, The UK is a very small place on a global scale and the cost of extracting some UK minerals and other materials makes it so nobody would invest in it. | |||
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"How many people base their holiday plans on currency strength? It doesn't cross my mind. Congrats on the increase on your balance sheet. Are you cashing in? " Changed my money for thre years worth of holidays a long time ago so quids in,allways plan ahead if you can | |||
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"Having a low pound doesn't always make it bad.Think of all those tourists coming to the uk now as its cheap.Me selling my house in spain and making 1/3 just on exchange rates. and more people buying british.
Making every import more expensive though which hits every single person in the country
Not if you don't buy from overseas"You dont get economics do you , our production costs will escalate to near enough match the inflated price , get ready for inflation | |||
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"How many people base their holiday plans on currency strength? It doesn't cross my mind. Congrats on the increase on your balance sheet. Are you cashing in? Changed my money for thre years worth of holidays a long time ago so quids in,allways plan ahead if you can" It's almost like you knew that the pound would slump against the dollar and euro. Yet at the start of this post you were boasting about some minor blip being "another nail in the remoaner coffin". Something doesn't add up about your comments. | |||
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"Having a low pound doesn't always make it bad.Think of all those tourists coming to the uk now as its cheap.Me selling my house in spain and making 1/3 just on exchange rates. and more people buying british.
Making every import more expensive though which hits every single person in the country
Not if you don't buy from overseas"Planning on starving and not driving a car spare you? Genius | |||
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"Having a low pound doesn't always make it bad.Think of all those tourists coming to the uk now as its cheap.Me selling my house in spain and making 1/3 just on exchange rates. and more people buying british.
Making every import more expensive though which hits every single person in the country
Not if you don't buy from overseas"Oh dear  | |||
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"How many people base their holiday plans on currency strength? It doesn't cross my mind. Congrats on the increase on your balance sheet. Are you cashing in? Changed my money for thre years worth of holidays a long time ago so quids in,allways plan ahead if you can" You forecast that the Euro was on a continuous path of becoming stronger than the UK pound? And spend your money holidaying abroad, as the UK economy weakens, following the the push that the likes of yourself made to get a UK exit from Europe, rather than invest in the UKs tourism?  | |||
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"UK national debt now at 82% of GDP, or £1.8 trillion. The Chancellor will have to write to the EU to explain why the UK is failing to meet the 60% ceiling set in the Growth and Stability Pact." Exactly you are getting it now and he wont have to have the eu approve the budget after the 31st. | |||
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"Why because are economy is much stronger than any in the EU and a deal has been done on financial services. Another nail in remoaners coffin How many in the City knew that was story was about to break in the London Times - most of the Cabinet have the City on their CVs, remember - and made a small fortune correctly predicting the £ would go up when the stock exchange opened in Tokyo? Who do you think fed the line to the Times? " Last week here in Spain 1.05 Euro to the pound today 1.08 | |||
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"It could have been 1.65, if remain won. So being positive about 1.28, its like being happy that you got half a cake for your birthday. " Rubbish the government would not let it get that high as very very bad for exports | |||
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"It could have been 1.65, if remain won. So being positive about 1.28, its like being happy that you got half a cake for your birthday. Rubbish the government would not let it get that high as very very bad for exports" A weak pound is really only good for exports in the short term. As it makes the cost of raw materials expensive. Long to medium term a stable moderately strong currency is usually best for exports and the good of the country. A weak pound is good for foreign investors to buy property and businesses etc on the cheap. | |||
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"It could have been 1.65, if remain won. So being positive about 1.28, its like being happy that you got half a cake for your birthday. Rubbish the government would not let it get that high as very very bad for exports A weak pound is really only good for exports in the short term. As it makes the cost of raw materials expensive. Long to medium term a stable moderately strong currency is usually best for exports and the good of the country. A weak pound is good for foreign investors to buy property and businesses etc on the cheap." A stable currency is the best thing for a countries economy in the long term. | |||
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"It could have been 1.65, if remain won. So being positive about 1.28, its like being happy that you got half a cake for your birthday. Rubbish the government would not let it get that high as very very bad for exports A weak pound is really only good for exports in the short term. As it makes the cost of raw materials expensive. Long to medium term a stable moderately strong currency is usually best for exports and the good of the country. A weak pound is good for foreign investors to buy property and businesses etc on the cheap. A stable currency is the best thing for a countries economy in the long term. " I’ve always considered the value of sterling on the exchange to be the UK stock/share price. No doubt someone will say that’s not how to look at it . | |||
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"It could have been 1.65, if remain won. So being positive about 1.28, its like being happy that you got half a cake for your birthday. Rubbish the government would not let it get that high as very very bad for exports A weak pound is really only good for exports in the short term. As it makes the cost of raw materials expensive. Long to medium term a stable moderately strong currency is usually best for exports and the good of the country. A weak pound is good for foreign investors to buy property and businesses etc on the cheap. A stable currency is the best thing for a countries economy in the long term. I’ve always considered the value of sterling on the exchange to be the UK stock/share price. No doubt someone will say that’s not how to look at it . "When you say uk stock/share price i assume you mean the FTSE100 OR 250. Broadly shares tend to go up when a currency is weak. | |||
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"It could have been 1.65, if remain won. So being positive about 1.28, its like being happy that you got half a cake for your birthday. Rubbish the government would not let it get that high as very very bad for exports A weak pound is really only good for exports in the short term. As it makes the cost of raw materials expensive. Long to medium term a stable moderately strong currency is usually best for exports and the good of the country. A weak pound is good for foreign investors to buy property and businesses etc on the cheap. A stable currency is the best thing for a countries economy in the long term. I’ve always considered the value of sterling on the exchange to be the UK stock/share price. No doubt someone will say that’s not how to look at it .
When you say uk stock/share price i assume you mean the FTSE100 OR 250. Broadly shares tend to go up when a currency is weak."No I mean I view sterling as a stock.When it’s low it’s a lack of confidence in UK and it’s future direction When it’s high the then confidence in UKs future is strong. | |||
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"It could have been 1.65, if remain won. So being positive about 1.28, its like being happy that you got half a cake for your birthday. Rubbish the government would not let it get that high as very very bad for exports A weak pound is really only good for exports in the short term. As it makes the cost of raw materials expensive. Long to medium term a stable moderately strong currency is usually best for exports and the good of the country. A weak pound is good for foreign investors to buy property and businesses etc on the cheap. A stable currency is the best thing for a countries economy in the long term. I’ve always considered the value of sterling on the exchange to be the UK stock/share price. No doubt someone will say that’s not how to look at it .
When you say uk stock/share price i assume you mean the FTSE100 OR 250. Broadly shares tend to go up when a currency is weak."I think the way he means, and more or less my way of thinking also, is that most of the ordinary individuals and small businesses (not millionaires or multi nationals) are paid in sterling, have money in the bank in sterling, do most of their buying and selling in sterling. The total amount of sterling adds up to (roughly speaking, and as might be understood by a non-economist) something that could be called the value of the UK. If the value of the pound goes up against the euro or the dollar, then that means the total value of the UK has gone up. And if the value of the pound goes down, then the value of the UK has gone down. Yes I know that fluctuations in the pound have effects on trade balances, it can make imports or exports better or worse deals. But broadly speaking, as far as i can see, if the value of the pound goes up then the value of my life savings has gone up. And when the pound has dropped by a fifth or more over the last couple of years, then that means that a fifth of my savings over my working life - about 8 years worth - has vanished. Poof! Gone! I now have to work another 8 years longer before i can retire... Thank you brexit. The gift that keeps giving. | |||
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"It could have been 1.65, if remain won. So being positive about 1.28, its like being happy that you got half a cake for your birthday. Rubbish the government would not let it get that high as very very bad for exports A weak pound is really only good for exports in the short term. As it makes the cost of raw materials expensive. Long to medium term a stable moderately strong currency is usually best for exports and the good of the country. A weak pound is good for foreign investors to buy property and businesses etc on the cheap. A stable currency is the best thing for a countries economy in the long term. I’ve always considered the value of sterling on the exchange to be the UK stock/share price. No doubt someone will say that’s not how to look at it .
When you say uk stock/share price i assume you mean the FTSE100 OR 250. Broadly shares tend to go up when a currency is weak.
I think the way he means, and more or less my way of thinking also, is that most of the ordinary individuals and small businesses (not millionaires or multi nationals) are paid in sterling, have money in the bank in sterling, do most of their buying and selling in sterling. The total amount of sterling adds up to (roughly speaking, and as might be understood by a non-economist) something that could be called the value of the UK.
If the value of the pound goes up against the euro or the dollar, then that means the total value of the UK has gone up. And if the value of the pound goes down, then the value of the UK has gone down.
Yes I know that fluctuations in the pound have effects on trade balances, it can make imports or exports better or worse deals.
But broadly speaking, as far as i can see, if the value of the pound goes up then the value of my life savings has gone up. And when the pound has dropped by a fifth or more over the last couple of years, then that means that a fifth of my savings over my working life - about 8 years worth - has vanished. Poof! Gone! I now have to work another 8 years longer before i can retire... Thank you brexit. The gift that keeps giving."So what did you blame it on when sterling was 1.50 to the euro in 2003 and dropped to 1.09 in 2009? that wasnt brexit | |||
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"It could have been 1.65, if remain won. So being positive about 1.28, its like being happy that you got half a cake for your birthday. Rubbish the government would not let it get that high as very very bad for exports A weak pound is really only good for exports in the short term. As it makes the cost of raw materials expensive. Long to medium term a stable moderately strong currency is usually best for exports and the good of the country. A weak pound is good for foreign investors to buy property and businesses etc on the cheap. A stable currency is the best thing for a countries economy in the long term. I’ve always considered the value of sterling on the exchange to be the UK stock/share price. No doubt someone will say that’s not how to look at it .
When you say uk stock/share price i assume you mean the FTSE100 OR 250. Broadly shares tend to go up when a currency is weak.
I think the way he means, and more or less my way of thinking also, is that most of the ordinary individuals and small businesses (not millionaires or multi nationals) are paid in sterling, have money in the bank in sterling, do most of their buying and selling in sterling. The total amount of sterling adds up to (roughly speaking, and as might be understood by a non-economist) something that could be called the value of the UK.
If the value of the pound goes up against the euro or the dollar, then that means the total value of the UK has gone up. And if the value of the pound goes down, then the value of the UK has gone down.
Yes I know that fluctuations in the pound have effects on trade balances, it can make imports or exports better or worse deals.
But broadly speaking, as far as i can see, if the value of the pound goes up then the value of my life savings has gone up. And when the pound has dropped by a fifth or more over the last couple of years, then that means that a fifth of my savings over my working life - about 8 years worth - has vanished. Poof! Gone! I now have to work another 8 years longer before i can retire... Thank you brexit. The gift that keeps giving." | |||
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"It could have been 1.65, if remain won. So being positive about 1.28, its like being happy that you got half a cake for your birthday. Rubbish the government would not let it get that high as very very bad for exports A weak pound is really only good for exports in the short term. As it makes the cost of raw materials expensive. Long to medium term a stable moderately strong currency is usually best for exports and the good of the country. A weak pound is good for foreign investors to buy property and businesses etc on the cheap. A stable currency is the best thing for a countries economy in the long term. I’ve always considered the value of sterling on the exchange to be the UK stock/share price. No doubt someone will say that’s not how to look at it .
When you say uk stock/share price i assume you mean the FTSE100 OR 250. Broadly shares tend to go up when a currency is weak.
I think the way he means, and more or less my way of thinking also, is that most of the ordinary individuals and small businesses (not millionaires or multi nationals) are paid in sterling, have money in the bank in sterling, do most of their buying and selling in sterling. The total amount of sterling adds up to (roughly speaking, and as might be understood by a non-economist) something that could be called the value of the UK.
If the value of the pound goes up against the euro or the dollar, then that means the total value of the UK has gone up. And if the value of the pound goes down, then the value of the UK has gone down.
Yes I know that fluctuations in the pound have effects on trade balances, it can make imports or exports better or worse deals.
But broadly speaking, as far as i can see, if the value of the pound goes up then the value of my life savings has gone up. And when the pound has dropped by a fifth or more over the last couple of years, then that means that a fifth of my savings over my working life - about 8 years worth - has vanished. Poof! Gone! I now have to work another 8 years longer before i can retire... Thank you brexit. The gift that keeps giving."Are you saying that you saved for your pension by putting money in a bank? | |||
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"It could have been 1.65, if remain won. So being positive about 1.28, its like being happy that you got half a cake for your birthday. Rubbish the government would not let it get that high as very very bad for exports A weak pound is really only good for exports in the short term. As it makes the cost of raw materials expensive. Long to medium term a stable moderately strong currency is usually best for exports and the good of the country. A weak pound is good for foreign investors to buy property and businesses etc on the cheap. A stable currency is the best thing for a countries economy in the long term. I’ve always considered the value of sterling on the exchange to be the UK stock/share price. No doubt someone will say that’s not how to look at it .
When you say uk stock/share price i assume you mean the FTSE100 OR 250. Broadly shares tend to go up when a currency is weak.
I think the way he means, and more or less my way of thinking also, is that most of the ordinary individuals and small businesses (not millionaires or multi nationals) are paid in sterling, have money in the bank in sterling, do most of their buying and selling in sterling. The total amount of sterling adds up to (roughly speaking, and as might be understood by a non-economist) something that could be called the value of the UK.
If the value of the pound goes up against the euro or the dollar, then that means the total value of the UK has gone up. And if the value of the pound goes down, then the value of the UK has gone down.
Yes I know that fluctuations in the pound have effects on trade balances, it can make imports or exports better or worse deals.
But broadly speaking, as far as i can see, if the value of the pound goes up then the value of my life savings has gone up. And when the pound has dropped by a fifth or more over the last couple of years, then that means that a fifth of my savings over my working life - about 8 years worth - has vanished. Poof! Gone! I now have to work another 8 years longer before i can retire... Thank you brexit. The gift that keeps giving.
Are you saying that you saved for your pension by putting money in a bank? "Thankfully no, i have a balance of stuff. Although i am certain that brexit will have at least a partial effect on my pension fund, as general increases in price for everything coming from overseas will reduce the amount of savings i can make. There are plenty of people, mainly those less well off, who are not able to diversify their savings and for who the depression of the pound will have a major effect on their current and future lifestyle. | |||
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