1.26 and falling

Old Oct 6th 2016, 1:05 pm
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Default 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 £ !!!!!
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Old Oct 6th 2016, 1:15 pm
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Default Re: 1.26 and falling

Originally Posted by lightandbitter2 View Post
AED 4.65 to the £

How low can it go?

1.22 is 4.5
1.08 is AED 4 to the £ !!!!!
I'm wondering the same - especially as the 1.25 was suppose to be the support point.
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Old Oct 6th 2016, 1:23 pm
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Default Re: 1.26 and falling

Originally Posted by Millhouse View Post
I'm wondering the same - especially as the 1.25 was suppose to be the support point.
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 !
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Old Oct 6th 2016, 4:26 pm
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Default 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.
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Old Oct 6th 2016, 4:37 pm
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Default Re: 1.26 and falling

Originally Posted by dominoman View Post
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.
No chance.
They will push this as close to parity as they can

you will see 1:1 before you see 1.50
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Old Oct 7th 2016, 5:57 am
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Default Re: 1.26 and falling

Originally Posted by lightandbitter2 View Post
No chance.
They will push this as close to parity as they can

you will see 1:1 before you see 1.50
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.
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Old Oct 7th 2016, 8:25 am
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Default 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
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Old Oct 7th 2016, 8:46 am
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Default 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.
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Old Oct 7th 2016, 10:10 am
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Default 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.
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Old Oct 7th 2016, 10:24 am
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Default Re: 1.26 and falling

Originally Posted by Millhouse View Post
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.
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.
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Old Oct 7th 2016, 12:01 pm
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Default Re: 1.26 and falling

Gizza job...
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Old Oct 7th 2016, 12:07 pm
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Default Re: 1.26 and falling

keep on dropping!!
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Old Oct 9th 2016, 7:24 am
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Default 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!
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Old Oct 9th 2016, 7:34 am
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Default 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....

Originally Posted by KJinDoha View Post
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!

Last edited by DXBtoDOH; Oct 9th 2016 at 7:36 am.
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Old Oct 9th 2016, 7:35 am
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Default Re: 1.26 and falling

Originally Posted by KJinDoha View Post
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!
20 years!!! more like 2 years.
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