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 £ !!!!!

Re: 1.26 and falling
 

I'm wondering the same - especially as the 1.25 was suppose to be the support point.

Re: 1.26 and falling
 

The market is looking for, and will sell it down to 1.20.

That's a 20% drop from the 1.50 it was on the morning of Brexit !

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.

Re: 1.26 and falling
 

No chance.
They will push this as close to parity as they can

you will see 1:1 before you see 1.50

Re: 1.26 and falling
 

From Zerohedge:

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.

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 ;)

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.

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.

Re: 1.26 and falling
 

The Flash crash showed there is very little support below.

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.

Re: 1.26 and falling
 

Gizza job...;)

Re: 1.26 and falling
 

keep on dropping!!

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!

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....

Re: 1.26 and falling
 

20 years!!! more like 2 years.