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By *lappy OP Man
over a year ago
Manchester |
With the up coming referedum about weather to stay or to leave the European Union, I was wondering if anyone knew howe a result either way would affect the exchange rate, as I'm considering getting mine changed before incase theres a massive change afterwards
Any jabbers with any advice please ??? |
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Sterling will plunge around the referendum time.
It will recover very quickly if it's an in vote;
An out vote? No real idea; but likely to plunge massively immediately after an out vote; how long it will take to stabilise afterwards is anyone's guess...
Whether it will improve after that depends on international confidence in the £, and then if the marvellous " trade deals" promised by the out campaign actually materialize.... |
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"With the up coming referedum about weather to stay or to leave the European Union, I was wondering if anyone knew howe a result either way would affect the exchange rate, as I'm considering getting mine changed before incase theres a massive change afterwards
Any jabbers with any advice please ??? "
No matter the result the £ will continue its relentless fall in value against the $ and other currencies. Except for the period where the £ was pegged to the $ (even then there were 2 major devaluations) it has been falling since we abandoned the gold standard in 1931. |
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If you have spare money and can afford to invest in long term money buy Euros and open an investment account in the Euro zone. You will get a better return than keeping your money in a Sterling zone investment account. |
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By (user no longer on site)
over a year ago
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If you want to make sure ur money holds best value.....Gold shares are the best bet until you see where the land lies. Although dont buy at todays value, its been mental the last couple of weeks.. give it a week, should be back around the 1230 mark. thats a good value
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By (user no longer on site)
over a year ago
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Yeah well if you think the pounds got problems....
Just wait till Italy defaults!.
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The truth is every country in the world has been in a race to devalue their currency for about 20 years now...
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It's called the only way out of the debt!. |
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"Yeah well if you think the pounds got problems....
Just wait till Italy defaults!.
.
.
The truth is every country in the world has been in a race to devalue their currency for about 20 years now...
.
It's called the only way out of the debt!."
Not quite right you know. 
Check the numbers and you will find that the Euro has been steadily gaining in value against £ and $ since its launch in 2001. You should not believe everything that you are told by the $ dominated media about the Euro. |
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By (user no longer on site)
over a year ago
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"With the up coming referedum about weather to stay or to leave the European Union, I was wondering if anyone knew howe a result either way would affect the exchange rate, as I'm considering getting mine changed before incase theres a massive change afterwards
Any jabbers with any advice please ??? "
In will likely cause the oound to rise againsg the euro again as confidence returns.
Out the pound will likely drop as there will be a hell of a lot of uncertainty for the 2 year negotuation period |
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By (user no longer on site)
over a year ago
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I moved to this country and the £ was fucking expensive to buy with my $. Now I'm considering going home and my £s are losing value against the $s I need to buy.
You want currency advice? Invest in whatever currency I happen to need at the time. They always tend to be doing well.  |
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By *elson61Man
over a year ago
WELWYN GARDEN CITY |
"Not quite right you know.
Check the numbers and you will find that the Euro has been steadily gaining in value against £ and $ since its launch in 2001. You should not believe everything that you are told by the $ dominated media about the Euro."
When the Euro was launched the pound traded against it at a rate of 1.50 to 1.55 euros to the pound. By the end of 2007 it was down to about 1.38 to the pound. In 2008 it went down to about 1.25 and in 2009 it closed in on parity with the pound before starting to lose value. By the summer of 2014 it was back to about 1.25 to the pound and last summer it rose to 1.40 to the pound. The pound has slipped back a bit since then and is currently back to 1.26 ish. |
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By (user no longer on site)
over a year ago
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To exit the EU it will take about 2-3 years; I really shouldn't worry about it.
If everyone votes out, we don't leave the next day, we have to negotiate our way out, we won't wake up the next day and not be in the EU..... |
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"When the Euro was launched the pound traded against it at a rate of 1.50 to 1.55 euros to the pound. By the end of 2007 it was down to about 1.38 to the pound. In 2008 it went down to about 1.25 and in 2009 it closed in on parity with the pound before starting to lose value. By the summer of 2014 it was back to about 1.25 to the pound and last summer it rose to 1.40 to the pound. The pound has slipped back a bit since then and is currently back to 1.26 ish."
Funny that...
When I was buying Euros in 2001 in Germany I was getting 1.68 Euros for each of my Pounds.
Today it is trading at 1.27 to the Pound. |
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By *elson61Man
over a year ago
WELWYN GARDEN CITY |
"Funny that...
When I was buying Euros in 2001 in Germany I was getting 1.68 Euros for each of my Pounds.
Today it is trading at 1.27 to the Pound."
Funny that. When I was in Germany in 2001 they were still using the deutschmark. Euro notes were not circulated until 2002. When the Euro was introduced for bank transfers in 1999 it came in at 1.42 to the pound. |
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By (user no longer on site)
over a year ago
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"Yeah well if you think the pounds got problems....
Just wait till Italy defaults!.
.
.
The truth is every country in the world has been in a race to devalue their currency for about 20 years now...
.
It's called the only way out of the debt!.
Not quite right you know.
Check the numbers and you will find that the Euro has been steadily gaining in value against £ and $ since its launch in 2001. You should not believe everything that you are told by the $ dominated media about the Euro."
.
Yeah I know, maybe I confused you, my point was every currency is devaluing, it's still possible for a currency to be up agaist one while actually going down... Ie the euro has lost 14%
The dollar 22%
The pound 18%.
All down but the euro was up 8% against the dollar!.
.
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Currency has a leveraged value,a value based on returns (yields), and more importantly for the dollar a value based on oil..
The dollar is up because oil is low, you physically need less dollars to purchase the same amount of oil, that's a deflationary aspect less dollars in circulation means the value creeps up, so at the moment you have a high dollar as yields up but volume down.
Right now the ECB is running negative interest rates and quite frankly there's no likelihood of that going up!.
Italian bonds are a fucking joke, the only people buying them are guess who, well it looks like the ECB to most!.
When you've got the lender of last resorts lending to you, it's not a good sign!.
But like I say there all at it and have been for years and years.
The dollar has lost about 80% of its value in 50 years, the pounds probably lost even more.
You put one pound away in your saving account when your 20... When your retired at 70 that pound has lost 80% of its value, you've been robbed blind while moaning about tuppence of tax |
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By (user no longer on site)
over a year ago
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From the bbc website on the ever growing trade deficit.
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A truly horrible first-quarter trade performance that clearly weighed down on GDP growth," said Howard Archer from IHS Global Insight.
He added that UK exports had been hampered by moderate global demand as well as sterling's strength in 2015, particularly against the euro.
"The hope has to be that UK exporters will increasingly be helped by the overall marked weakening of the pound in 2016, although the pound has climbed off its April lows," he continued. |
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