Why is the Pound Sterling not weaker?

graham99 · Dec 12, 2018

Global ovine said:
That's because the GBP to NZ$ has free fallen by over 10% in the last 90 days. Both the UK and the EU are in political turmoil with the currency traders only thinking "sell". Look to other currencies to see the effects.

do not forget every so called crash starts with the traders selling ,to start the ball falling ,so they ready to buy when the drop they caused hit's the bottom.
but to bang my old drum ,the EU and ENGLAND ,with the USA are worlds true communists with their money printing.

Yale · Dec 12, 2018

graham99 said:
do not forget every so called crash starts with the traders selling ,to start the ball falling ,so they ready to buy when the drop they caused hit's the bottom.
but to bang my old drum ,the EU and ENGLAND ,with the USA are worlds true communists with their money printing.

Which further weakens the currency......s’pose its all relative.

The Agrarian · Dec 12, 2018

Pound using the positive vibe today out of number ten to retest the breakout zone above 89.40. if that holds, expecting a rise back up to at least 93 in the short term. Have held onto my euros iin the meantime.

JCMaloney · Dec 12, 2018

Traders don`t profit unless markets fluctuate, they don`t like stability.
There will be people selling & buying shorts then reselling and making 2 or 3% for nothing more than holding numbers on spreadsheets. When those numbers have lots of 00000`s on the end 2-3% is a nice return.

The Agrarian · Dec 12, 2018

EU still sticking to their guns on no change to deal, so this retracement seems a reasonable opportunity for short pounds again.

Ashman · Dec 16, 2018

If I was a trader I be sell pounds for Swiss franks very safe bet but expensive. Can't see why pound to euro is not 0.97 to 0.98 or 1 to 1. We don't make much just buy from the rest of the world it can't last

Cowabunga · Dec 16, 2018

Ashman said:
If I was a trader I be sell pounds for Swiss franks very safe bet but expensive. Can't see why pound to euro is not 0.97 to 0.98 or 1 to 1. We don't make much just buy from the rest of the world it can't last

Actually we make a heck of a lot of stuff. We made more cars in 2016/17 than any time in history for instance. There's a massive new engine factory recently opened off the M54 with its back to Wolverhampton. We currently have cars built by Mini, Land/Range Rover, Jaguar, Honda, Toyota, Vauxhall/Peugeot and Nissan and probably others too. Yes, Aston Martin, Rolls Royce and Bentley of course. Trains and planes too. Diggers to trucks. Chemicals to steelworks. Food to cosmetics.
We were doing rather well until the Brexit vote. A hard Brexit will see our industry, agriculture, obliterated before any other and the Pound, unless supported somehow, probably very expensively, will fall like a stone probably causing yet another recession. One that people actually want this time so they better not bitch about it when it happens which would be if this idiotic hard exit were to happen. Which it looks like it is, more and more with each passing day.

Ashman · Dec 17, 2018

If you ask me the rot set in this country about 2002 on wards with house price inflation that could not last. 2008 big crash was waiting to happen looking back.
In my area things have not got better since the crash ! That's why people voted out in my area. But I voted to remain as working in the EU is good thing. Just look around big citys in the West and East Midlands and ask what left. The only benefit I can see from this brexit mess is that the value of the the pound across currency's of the world has gone down.

Martin Holden · Dec 17, 2018

The £ is down by over 20% compared to 3 years ago. Looking back at currency I bought 3 years ago the actual rate was 1.35; today you’d be lucky to get 1.05 I guess. That’s even more than 20%!

Wombat · Dec 17, 2018

From a balance point of view I don't think it's in too bad a place. We certainly don't want it on the floor

goodevans · Dec 17, 2018

Or a nice loss,didn't you get tought at school to every reaction there is an equal and opposite reaction

Cowabunga · Dec 17, 2018

Ashman said:
If you ask me the rot set in this country about 2002 on wards with house price inflation that could not last. 2008 big crash was waiting to happen looking back.
In my area things have not got better since the crash ! That's why people voted out in my area. But I voted to remain as working in the EU is good thing. Just look around big citys in the West and East Midlands and ask what left. The only benefit I can see from this brexit mess is that the value of the the pound across currency's of the world has gone down.

I take it that you are fairly young. Born 1990's maybe. Because the inflation you mention was piffling compared to the previous three decades. I sold a house in 1982 for 20k and bought another similar in 1984 for 45k. We saw double digit inflation for many years and interest rates up past 10% and at one time 15% if I remember correctly.
I mention this because you put some historical context into what you think was when some kind of rot set in, but the context is so narrow that it is meaningless. It may mean something to you but believe me when I tell you that you need to look back further so that you appreciate the relative stability we have actually had in recent years.
Yes there was a global crash from which we were only just recovering from when people actually voted to send the UK into another one. It must be the first time ever that people have actually voted to become poorer and to lose their jobs.

Will Blackburn · Dec 17, 2018

Leaving the EU is a mere ripple in the ocean compared to 5 years of a Corbyn Government. This will be the true legacy of the Tory shambles brexit.

Exfarmer · Dec 17, 2018

Will Blackburn said:
Leaving the EU is a mere ripple in the ocean compared to 5 years of a Corbyn Government. This will be the true legacy of the Tory shambles brexit.

Sadly I like this post, but 5 years of Corbyn will indeed be a huge disaster, even the French are pitching to UK companies warning of the chaos which will come for that reason. They should know enough about political chaos!

Y Fan Wen · Dec 17, 2018

Cowabunga said:
I take it that you are fairly young. Born 1990's maybe. Because the inflation you mention was piffling compared to the previous three decades. I sold a house in 1982 for 20k and bought another similar in 1984 for 45k. We saw double digit inflation for many years and interest rates up past 10% and at one time 15% if I remember correctly.
I mention this because you put some historical context into what you think was when some kind of rot set in, but the context is so narrow that it is meaningless. It may mean something to you but believe me when I tell you that you need to look back further so that you appreciate the relative stability we have actually had in recent years.
Yes there was a global crash from which we were only just recovering from when people actually voted to send the UK into another one. It must be the first time ever that people have actually voted to become poorer and to lose their jobs.

At that time Barclays issued an open ended 16% bond which is still being traded on the stock market I believe.

ollie989898 · Dec 17, 2018

Cowabunga said:
I take it that you are fairly young. Born 1990's maybe. Because the inflation you mention was piffling compared to the previous three decades. I sold a house in 1982 for 20k and bought another similar in 1984 for 45k. We saw double digit inflation for many years and interest rates up past 10% and at one time 15% if I remember correctly.
I mention this because you put some historical context into what you think was when some kind of rot set in, but the context is so narrow that it is meaningless. It may mean something to you but believe me when I tell you that you need to look back further so that you appreciate the relative stability we have actually had in recent years.
Yes there was a global crash from which we were only just recovering from when people actually voted to send the UK into another one. It must be the first time ever that people have actually voted to become poorer and to lose their jobs.

I agree, todays troubles are nothing compared to the grief the country endured in the 60s 70s or 90s!

br jones · Dec 17, 2018

Watched the big short again the other night,a banking crisis is on its way again

ollie989898 · Dec 17, 2018

br jones said:
Watched the big short again the other night,a banking crisis is on its way again

The banks have been reined in after the 2008 fiasco, forced to keep larger reserves.

We should never have sold the shares in the banks the tax payers had, that was utterly crooked. Better to take the dividends and reduce the tax take.

colhonk · Dec 17, 2018

Perhaps Cowabunga should look up `ARTICLE 13`that the EU dictators are going to push through to law. It will be the end of free speach,you tube,this forum and every type of so called Democracy in Europe.

Y Fan Wen · Dec 17, 2018

colhonk said:
Perhaps Cowabunga should look up `ARTICLE 13`that the EU dictators are going to push through to law. It will be the end of free speach,you tube,this forum and every type of so called Democracy in Europe.

I've had a good look at this and afaics it is an attempt to strengthen copyright law so that authors have more control over how their works are distributed. Can't see how this will affect free speach or this forum. It will affect you tube because piracy of content is rife on that site, but practically not much I guess.
BTW, there are no dictators in the European Union.

Why is the Pound Sterling not weaker?

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Up to 25%

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75-100%

100% I’ve had enough of farming!

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