1.26 and falling
#1
Forum Regular
Thread Starter
Joined: Sep 2016
Posts: 108
1.26 and falling
AED 4.65 to the £
How low can it go?
1.22 is 4.5
1.08 is AED 4 to the £ !!!!!
How low can it go?
1.22 is 4.5
1.08 is AED 4 to the £ !!!!!
#4
BE Enthusiast
Joined: Mar 2016
Posts: 315
Re: 1.26 and falling
It's a bit scary for those of us paid in GBP.
I'm not worried though. It'll come back. Sterling is the bargain of the century. Sell dollars buy pounds Mr Soros.
I'm not worried though. It'll come back. Sterling is the bargain of the century. Sell dollars buy pounds Mr Soros.
#6
Onwards and Upwards!
Joined: Sep 2010
Posts: 884
Re: 1.26 and falling
As reported moments ago, just around 7:07pm ET, cable snapped and plunged by what some say may have been as much as 1200 pips, dropping from 1.26 to as low as 1.14 according to some brokers, before snapping back up.
#7
BE Forum Addict
Joined: Jan 2015
Posts: 3,520
Re: 1.26 and falling
I accepted the UAE job offer at approximately 5.8 to the pound.
It's now down to 4.56 to the pound.
Let's put this way, I've effectively had a massive salary increase in the past year
It's now down to 4.56 to the pound.
Let's put this way, I've effectively had a massive salary increase in the past year
#8
Re: 1.26 and falling
was approx 6 to the pound when I moved here. Just wish I could pay my rent here in sterling.
#9
Re: 1.26 and falling
The race to the bottom is on it seems.
1.23 in current rate (ignoring the overnight flash shock).
Poor folks in the UK - they are going to get an inflation shock just after Christmas.
1.23 in current rate (ignoring the overnight flash shock).
Poor folks in the UK - they are going to get an inflation shock just after Christmas.
#10
Forum Regular
Thread Starter
Joined: Sep 2016
Posts: 108
Re: 1.26 and falling
Straight through 1.25 and doesn't seem to be any at 1.20 either.
It's not just about the £ though. $ is ridiculously strong against everything.
#11
#13
Forum Regular
Joined: May 2016
Posts: 56
Re: 1.26 and falling
Without any positive political announcements (on trade deals and market access), I fear the £ will continue stumbling. Which is of course terrible for the UK residents, and for UK assets. How bad to we think the impact [inflation] will get?
For those of us earning in Dollar/pegged and planing to eventually repatriate this is a good boost to our remittances. But should we hold off, as it doesn't seem to have bottomed?
My personal view is that £ will take 2 decades to recover, if the current political situation endures!
For those of us earning in Dollar/pegged and planing to eventually repatriate this is a good boost to our remittances. But should we hold off, as it doesn't seem to have bottomed?
My personal view is that £ will take 2 decades to recover, if the current political situation endures!
#14
BE Forum Addict
Joined: Jan 2015
Posts: 3,520
Re: 1.26 and falling
The £ dropped pretty low in '84 / '85 but recovered quickly enough.
Who really knows. I don't think anyone does. The swings in the pound's value is due to human irrationality as much as it does with market fundamentals. My guess is that the recent sharp drop is due to the realisation that Brexit is definitely going to happen, the Government is committed to it, and when the market comes to terms with it there will be stabilisation and some increase. We're still in the EU and will be for the next two years, after all....
Who really knows. I don't think anyone does. The swings in the pound's value is due to human irrationality as much as it does with market fundamentals. My guess is that the recent sharp drop is due to the realisation that Brexit is definitely going to happen, the Government is committed to it, and when the market comes to terms with it there will be stabilisation and some increase. We're still in the EU and will be for the next two years, after all....
Without any positive political announcements (on trade deals and market access), I fear the £ will continue stumbling. Which is of course terrible for the UK residents, and for UK assets. How bad to we think the impact [inflation] will get?
For those of us earning in Dollar/pegged and planing to eventually repatriate this is a good boost to our remittances. But should we hold off, as it doesn't seem to have bottomed?
My personal view is that £ will take 2 decades to recover, if the current political situation endures!
For those of us earning in Dollar/pegged and planing to eventually repatriate this is a good boost to our remittances. But should we hold off, as it doesn't seem to have bottomed?
My personal view is that £ will take 2 decades to recover, if the current political situation endures!
Last edited by DXBtoDOH; Oct 9th 2016 at 7:36 am.
#15
Banned
Joined: Oct 2015
Location: Luton
Posts: 1,162
Re: 1.26 and falling
Without any positive political announcements (on trade deals and market access), I fear the £ will continue stumbling. Which is of course terrible for the UK residents, and for UK assets. How bad to we think the impact [inflation] will get?
For those of us earning in Dollar/pegged and planing to eventually repatriate this is a good boost to our remittances. But should we hold off, as it doesn't seem to have bottomed?
My personal view is that £ will take 2 decades to recover, if the current political situation endures!
For those of us earning in Dollar/pegged and planing to eventually repatriate this is a good boost to our remittances. But should we hold off, as it doesn't seem to have bottomed?
My personal view is that £ will take 2 decades to recover, if the current political situation endures!