Currency
US Dollar First day of trading 2021 = 1.35 ..........2022 = 1.35
Euro First day of trading 2021 = 1.1294 .............2022 = 1.1897 |
Re: Currency
Funny that, when it went down it either wasn't because of Brexit or sterling was overvalued anyway and it would make British exports cheaper. Now it's gone up it's a benefit of Brexit and never mind that it will make imports to the UK more expensive (as well as slower and more expensive because of the extra checks which should have come into force from yesterday for goods coming from the EU - already postponed twice because the UK couldn't manage to get the necessary infrastructure ready and have the staff recruited and trained in time to put them into effect on the date in the agreement they negotiated and signed).
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Re: Currency
UK will go for a Norway kind of deal when the conservatives get outed.
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Re: Currency
Originally Posted by Lynn R
(Post 13086091)
Funny that, when it went down it either wasn't because of Brexit or sterling was overvalued anyway and it would make British exports cheaper. Now it's gone up it's a benefit of Brexit and never mind that it will make imports to the UK more expensive (as well as slower and more expensive because of the extra checks which should have come into force from yesterday for goods coming from the EU - already postponed twice because the UK couldn't manage to get the necessary infrastructure ready and have the staff recruited and trained in time to put them into effect on the date in the agreement they negotiated and signed).
Rise is due to no new c19 restrictions in England. brexit brigade never sleeps. |
Re: Currency
Originally Posted by EU.flag
(Post 13086111)
Benefit of brexit ? What a wild statement, if it was it would have jumped year ago.
Rise is due to no new c19 restrictions in England. brexit brigade never sleeps. |
Re: Currency
It would be useful if we could just inject a few facts into this discussion!
Refer to the graph and the collapse in sterling that happened due to the no vote in the brexit referendum. Day to day and week to week changes in market sentiment which cause sterling to hover between 1.15 and 1.20, DO NOT CONSTITUE A RECOVERY IN STERLING, to its pre-brexit levels. https://cimg9.ibsrv.net/gimg/british...e1016b3d9e.jpg |
Re: Currency
The Euro still has to survive Greece and Italy. It all went quiet during Covid but has not gone away. I believe the ECB is pumping money. It will be interesting to see what happens when the Spanish 6+% inflation kicks in. Mind you, won’t be as bad as Turkey!
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Re: Currency
Originally Posted by olivefarmer
(Post 13086132)
The Euro still has to survive Greece and Italy. It all went quiet during Covid but has not gone away. I believe the ECB is pumping money. It will be interesting to see what happens when the Spanish 6+% inflation kicks in. Mind you, won’t be as bad as Turkey!
But as you are suggesting that Greece and Italy represent imminent threat to the financial stability of the EURO, perhaps you could back that up with some numbers along with a timeline with key dates? I find these predictions of the imminent demise of the Euro or the EU tiresome, and these usually emanate from a particular quarter... |
Re: Currency
Originally Posted by Lynn R
(Post 13086117)
The irony obviously went straight over your head. Fredbargate was implying that it was a benefit of Brexit, not me.
Or was I just quoting facts? |
Re: Currency
Originally Posted by agree_to_disagree
(Post 13086128)
It would be useful if we could just inject a few facts into this discussion!
So has the UK has come a long way £ more than doubled in Value or has Spain has lost |
Re: Currency
The main reason why Sterling is outperforming Euro is the hawkish stance taken by the Bank of England over raising interest rate to counter inflation, while the European Central Bank seems in no hurry to do so. Against market expectation, BOE raised interest rate in December and is expected to do so again in February. Brexit is on the whole negative for Sterling, but the market takes the view that UK and EU will come to an amicable agreement over remaining sticking points, such as NI Protocol and fisheries. Should UK trigger Article 16 to set aside parts of Brexit agreements, that will hit Sterling hard.
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Re: Currency
HMRC interest rates for late payments will be revised following the Bank of England interest rate rise to 0.25%. The Bank of England Monetary Policy Committee voted on 16 December 2021 to increase the Bank of England base rate to 0.25% from 0.1%.
This is "halkish"??? I just make a quick call to Cambridge Dictionary, that they need to redefine 'halkish'... |
Re: Currency
Good for potential holiday makers to Spain. But being triple jabbed is enough to put a lot of people off going. Hopefully these restrictions go before holiday season.
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Re: Currency
Originally Posted by agree_to_disagree
(Post 13086180)
HMRC interest rates for late payments will be revised following the Bank of England interest rate rise to 0.25%. The Bank of England Monetary Policy Committee voted on 16 December 2021 to increase the Bank of England base rate to 0.25% from 0.1%.
This is "halkish"??? I just make a quick call to Cambridge Dictionary, that they need to redefine 'halkish'... |
Re: Currency
Originally Posted by Fredbargate
(Post 13086154)
Fact, when I bought my first and second properties in Spain the exchange rate was £1 = €0.67 or 112 pesetas
So has the UK has come a long way £ more than doubled in Value or has Spain has lost For example what you can buy with 1000 GBP as opposed to 1189.70 Euro. The exchange rate changes are minimal for all but the richest and poorest in society. The difference is apparent for those drawing Sterling based pensions but again they need to have a baseline. Many looked at their pensions and realised that 1000GBP went a lot further in the EU and the fluctuations in between make very little difference when compared with what they could get in the UK. |
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