Pound has dropped in value

Thoughts?

 

Currency traders making a fortune.

 

Not very good for the chap that saves all year for his fortnight in mallorca

 

Off to NY and the pounds crashed from 1.50 to 1.28, when your are going to change £1000+ it's a lot of money, wish l'd changed it in the summer, going to hold out now until the last minute.

My banking shares have also crashed but I'm buying more of these at the moment and averaging down, in the long term they'll be a good investment (he says..)

 

I reckon there will a last minute twist to this tale

and a further vote will be made.... and we will stay in.

 

Re: I reckon there will a last minute twist to this tale

What and climb back aboard the sinking ship?

 

Re: I reckon there will a last minute twist to this tale

We to vote on our negotiation regarding article 50 and how that is incorporated

 

But that's exactly what the people voted for

 

Re: I reckon there will a last minute twist to this tale

The population havr have a say on the terms and conditions under which we leave. It's up to those negotiating ti ensure that the outcome limits the damage

 

The scary 'Hard Brexit' phlosophy, is May's way of paving the ground for reversal. According to my dog...

 

Valid point and a very shrewd way of saving the day if correct

 

Oil is bought in$ fuel will go up. Inflation will increase unemployment will increase due a slump in demand

Essentially it's a disaster

 

So are you not going to cross reference it being a disaster agasint the fact italy is on the verge of financial meltdown, greece is skint again and even the juggernaught that is germany is close to playing catch up over the state of its national bank.
Or have we conveintly forgotten that both portugal and soains economies are propped up by Eu 'loans'
Or how about the fact france has its highest levels of unemployment.
Both italy and spain are riddled with high youth unemployment.
Then theres hungary telling Eu to **** off over migrant quotas
Swiss banning italian migrants.

Whole things comming apart at the seams.

Crack on.

 

Well said that man,i will buy that.

 

Putin is loving every minute of it.

 

Living (retired in Italy) it obviously has had a major impact on our monthly 'income' which is paid in pounds. However I fully expected it to. As most on here know I voted OUT even though I knew it would have a negative affect on sterling short to medium term.

Since we undertook the project of buying a ruin in 2004, renovating and eventually moving here, we have seen the pound fluctuate between 1.50 and 1.04 (at the time of the crash in 2008).

Currency trading has always been unpredictable - more so than share dealing. A friend who used hold a fairly senior position in the BoE always said there was no logic behind the ups and downs after removing the obvious influences like Brexit. The herding instict kicks in with over optimism and panic mode in equal measure. I have always thought in recent years the true level is around 1.25 -1.30 so any thing above is a bonus and anything below is a relatively temporary ( 1 month to a year) 'blip' A

ll my budget calculations for purchase, renovation, and current living costs were based on a conservative rate of 1.12 though, as a safety margin (although we are getting close to that now) but the rate was at 1.40 last year when I changed some sterling. I try to exchange when the rate is good. If it means we have to miss a holiday one year so be it. We live close the the Appenine mountains and the Adriatic anyway so travelling is not exactly an essential. D

Doom-mongers predict the pound will fall below parity but I cant see that happening not before the EU runs out of road to 'kick the Eurozone can' down. Unfortunately, the BBC are feeding lies, propoganda and omitting to tell the British public how bad things are in Europe or more accurately the Eurozone.