Pulaski

I hadn't realized that by "they", you meant residents of the US.

SultanOfSwing

We're only marginally better off. It'll still cost about $200.00 to buy £150.00. That's not bad, don't get me wrong, but it's not a hell of a lot different to how it was last year when the pound was at $1.30.

mrken30

But you forget, a lot of things are still priced at when the dollar was $2 to £. Legoland was £32 a day, in CA it is $80 a day.

mrken30

I was referring more to expats in general who TM had forgotten about.

Steve_

The 25-year average is $1.64. If I'm right and they have to go for a much softer version of Brexit similar to what Switzerland has got, then theoretically that could happen fairly quickly and Sterling would go up sharply most likely.

mrken30

Averages can sometimes be misleading, for example , Warren Buffet walks into a room of pre-schoolers. Everyone in that room is a millionaire on average. The economic and political climate has changed a lot over the last 25 years. What was the 100 year average? What was the previous 25 year average? 10 year average?

steveq

You're just being mean.

Pulaski

That's his usual mode of operation.

lansbury

On the other hand the conservative government could collapse, there be another election and Corbyn get into power. Then there would be a whole line of people throwing effluent into the fan. You might just as well go to Vegas and put it all on red (or black) better chance of predicting what might happen.

Steve_

Absolutely, my point was I think it's very unlikely indeed that Sterling will remain stable. I see on the news HM Treasury is thinking of "supporting" it, which basically means they're really scared now the bottom is going to fall out as business confidence has fallen off a cliff.

It will be interesting to see what happens over the next couple of weeks.

Personally I can't see how May can stay on promising a hard Brexit and she'll lose any credibility she's still got if she backs away from it.

I said a couple of days ago the logical thing to do is to hold a referendum on replacing Parliament with a roulette wheel.

mrken30

Considering the mess the Government is in, the pound has hardly moved. Compare this with Brexit , where it fell over 10%.

Steve_

It's dropped more sharply against the CAD. Perhaps it's just a reached a point where it can't go down much further.

I think you'd have to be quite brave to say there aren't going to be any major shifts over the next couple of years with Trump in power and a hung Parliament in the UK.

mrken30

Both the US and the UK are taking actions which are resulting in the devaluation of both currencies. Hence my theory on why the GBP/USD exchange rate probably won't change much over the next 2 years during Brexit and Trumpation.

Against other currencies, who knows.

Steve_

Well yes, as both countries stand a good chance of going bankrupt, so zero = zero is pretty stable I guess.

And then Canada and Mexico can annex the US. Personally I think we ought to do it in a checkerboard pattern just to piss people off.

mrken30

The dollar has had it's worst run for 6 years. Thank you Mr Trump.

The dollar is doing something it hasn't done in 6 years. Here's what it means, Business News - AsiaOne