johnnyone

Whilst oil does have a bearing on the economy it does not explain the fall in the value of the pound to the euro as both the Uk and Eurozone are affected.
Surely on your basis you would expect the pound to strengthen as it has its own oil reserves.

This latest fall appears to be triggered by the perceived state of the Uk economy. However in my opinion this is due to transparency whereas many of the eurozone countries are less open in regard to the state of their nations finances.

HBG

I usually enjoy the news on a Sunday morning, all free and from all over the world. That was until I read that when a country is in so much debt that repayment becomes impossible, it has only one recourse, to devalue its currency.

Then I remembered Harold Wilson and his ‘The pound in your packet is still . . . .’

Well, Harold may have been right about the pound in your pocket in the UK, but I’m not in the UK. I change the pound in my pocket to buy myself a cup of coffee, and it’s getting dearer.

angiescarr

Where does 'Value' go anyway?
When it all comes down to it. Value is only a word. Like fairies, you have to believe in it for it to be real.
The only place our value is going is into a confidence hole. The only people making money out of it are the Bankers and the Insurers. The one feeds off the crises many of us have got into because of 'value' falls in our property, or other assets including money. And the other feeds off our fear of losing all that we have.
For these people swings in economy are actually a good thing.
Guess who's making money out of the fact we have to borrow to pay the tax debts we've got into because of the fall in value of the pound, due to the 'banking crisis' which our taxes bail out? (long sentence intentional).
The Bankers, who, having been handed out our tax money, and who are able to borrow at .5% in order to help the poor things out, are now lending us taxpayers our own money back at 21%!! Why? because we are a bad credit risk! And they are what? A good risk?:
There, that's my rant for the day. I feel better now.

steviedeluxe

They should be put in chains. Here's just one consequence:
http://www.theargus.co.uk/news/84436...nts_in_Sussex/

steviedeluxe

I suppose one plus point of the weak pound is that you still get plenty of EU tourists to the UK (and especially in London). The answer then is to invest in London hotels. I think...

jojojojojo

....... and UK exports are cheaper.......... er.... hold on there arent any lol!!! Doesnt do much for those imports tho!

Jo xxx

lynnxa

the UK exports rose tinted glasses by the thousand, every year, doesn't it?

bobd22

Where can I get a new pair as the ones I have are getting a bit cloudy

jackytoo

Cricketman probably has lots of spares

HBG

Don’t panic, the pound has just gone up by 0.0007 from 1.14 to 1.14.

When I go to the cash point I no longer have the balance printed out, I just check it on the screen. That way you can press the Exit button and won’t be reminded of the bad news by carrying around little bits of paper.

Bigger Jim

£33.5 Billion to the US in 2009 or so the Guardian says, Lol.

Jim

steviedeluxe

Don't look now 1.13 Euros to the pound.
I predict a recovery tomorrow (if only on the basis that at some point the trend has to turn). In the meantime, anyone in spain selling up will get more pounds for their Euros (sorry, that's the only good point I can see at the moment)

noelrosie

Sorry to disappoint you - opened an email from Foreign Currencies Direct this morning to say that they had made our regular payment to Spain at a rate of
1.1012 euros to the pound

Perhaps it will recover a bit next week when the impact of George Osbourne's speech dies off a bit ....

lyric030250

But it is not the pound falling, look at the Euro it is up against everything except the Turkish Lira !

jackytoo

Oh that's allright then