Pound Down!

See the Pound’s down a bit more, well done F’rexit, all looking brighter every day, who needs Borjo squabbling with T’may, things are going downhill well, on there own, what a disaster this Fiasco is for the UK! :roll_eyes:

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And tomorrow it will go up again, does this all the time so the money obsessed dealers can make money from us. :weary:
It has been on a downward trend since the vote but as soon as an agreement is mentioned it goes back up again by the 0.5point it dropped, hardly worth mentioning for the tiny amount we transfer each month.
The 1.50 when we bought, that’s worth remembering! :relieved:

I remember 1.6 John, even better:+1:
Won’t hold my breath ‘til it gets there again tho’:face_with_raised_eyebrow:

It peaked, on the 19th Oct 2000, at an incredible 1.7164€

To be fair that was a bit on the high side - great for tourists and ex-pats but very hard for business to sell profitably into the EU at that level.

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It’s bound to rise though - I moved a large chunk into the French account to tide us over should it come crashing down next March.

I was in Portugal on the boat in 2000, with me wee Local Gov Pension Paul, 'twas bloody wonderful!!! :rofl:

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Pleased I moved a good bit last week, don’t see it getting better any time soon, if ever :thinking:

:wink: yep, I am no money broker but I can always tell when it’s going to up. Two days after we transfer :grin:

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No one told me exchange rates can go up and down, since when did this start?:astonished:

Back in '01 I was unemployed and fed up with having no prospects of any regular work I left UK to see if there were opportunities elsewhere. I took my modest nest egg with me and when I accidentally noticed how cheap old houses were in France I spent the lot on my first project. Between signing the agreement to buy and actually handing over the money the exchange rate jumped a bit more and essentially covered all the legal fees and taxes. I couldn’t pass up the chance to own my own home in 2 acres for a little over €13.000. That figure would barely serve as a deposit in UK even if I had been able to find work. These days the exchange rate has turned around to bite me in the ass, living on a not quite full state OA pension.

About 1971 when the Bretton Woods system was abandoned, as regards the Euro (or rather its predecessor currencies) I think that the crunch date was 1992 when we left the ERM.

What I don’t know is how much the market has “priced in” no deal - I think the answer is “a bit” but not fully so if we really did hit next March with no deal - especially if some of the worst case scenarios (planes grounded etc) come to pass I fully expect the £ to plummet.

As it is there are hints that the EU want a FTA and, since they have been driving the process, I think this is ultimately what we will end up with at which point I expect the £ to strengthen. The downside is that it requires sanity to prevail on the UK side and so far that has been thin on the ground. So I fully expect to lose at least a could of hundred £ on this deal. At the moment I’m considering it as the price of insurance (for a while) against tits-up Brexit.

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Those of us with a Sterling income could be hit ‘very hard’ by a ‘no deal’ Paul, any one, not a ‘teeny bit’ worried in that position, must have their head deeply buried in the sand! :rofl:

It’s reasonable to be concerned but lacking a working crystal ball or time machine all we can do is try to hedge our bets as much as possible. For those on a pension, of course, flexibility might be limited which I am sure adds to the stress.

If we sort out an agreement for transition and/or an FTA (which I still feel is the most likely outcome) I think the £ will rally, not to 1.40€ levels but closer to 1.20€ might be achieved. In which case, if you are managing now, it will make things easier.

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Sincerly hope you’re right Paul, we would be ‘pushed a bit’ now if Babeth wasn’t working, good having a ‘Child Bride’ you know :+1: :grin:

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You old slave driver ! Think I will report you for abuse, I hope that you do at least push the vac around and give an occasinal flick of the feather duster, you’re spoilt enough already! :rofl:

4%20Bill

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That’s all womans work Ann, I’ve a local Publican to support :wink:

Where did you get Bill’s picture from Ann ? :wink:

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Well Babeth I reckon we could both use a bit of help around the house …

Can you let me have him back when you are finished please … :rofl:pink

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Wow! :roll_eyes: