Current Affairs EU In or Out

[LouReedwalkonthewildside]

Wow

I remember the days we were getting 2 dollars to the pound.

 

[Joey66]

The pound fell 1 percent to $1.2241 as of 4:03 p.m. London time. It plunged to $1.1841 on Oct. 7, the lowest since 1985, according to composite prices compiled by Bloomberg of contributions from dealers. The U.K. currency weakened 0.3 percent to 90.36 pence per euro, having depreciated to a seven-year low on Friday.

so what it's a blip markets always fluctuate blame Brexit????

 

[Joey66]

I remember the days we were getting 2 dollars to the pound.

Yes we were an dependant country then!
Not in the EU!

 

[The Esk]

so what it's a blip markets always fluctuate blame Brexit????

It's not a blip Joey, sterling is down 20% against the dollar since June 23, and from a technical perspective there's little resistance until 1.10.

That has a huge impact on input prices and energy prices (priced in dollars). Petrol and diesel prices are due to go up by around 5p a litre at the end of October as a direct result with further rises likely.

 

[peteblue]

The pound fell 1 percent to $1.2241 as of 4:03 p.m. London time. It plunged to $1.1841 on Oct. 7, the lowest since 1985, according to composite prices compiled by Bloomberg of contributions from dealers. The U.K. currency weakened 0.3 percent to 90.36 pence per euro, having depreciated to a seven-year low on Friday.

Oh right. The pound was grossly overvalued anyway and the BoE wanted it to fall, which is why there have been no panic interventions. I wouldn't be surprised if it hit $1.10 by year end. I'd be far more worried if it was heading towards the $1.60 promoted by some on here.....

 

[joey_macmo]

The EU just interfering shock horror the sooner we rid their Polictical dogma the better IMO!
They will trade when they sop the bulling and dimwit politicians weak inward looking get the faces rubbed in the dirt when thr UK succeeds in the long term!
Yes it will be bumpy but pip squeaks like Millaband and Clegg need to man up and respect the vote of OUT!

Except that Norway aren't in the EU.

 

[Joey66]

It's not a blip Joey, sterling is down 20% against the dollar since June 23, and from a technical perspective there's little resistance until 1.10.

That has a huge impact on input prices and energy prices (priced in dollars). Petrol and diesel prices are due to go up by around 5p a litre at the end of October as a direct result with further rises likely.

Oil prices have risen since the slump do not blame Brexit on that point
Yes it's bumpy because our MPs are denying May from showing unity instability will make the market twitch the MP remoaners are harming the country ATM!

 

[LouReedwalkonthewildside]

Yes we were an dependant country then!
Not in the EU!

2007 it was, at it's highest we were getting $2.010 to the pound.

 

[The Esk]

Oh right. The pound was grossly overvalued anyway and the BoE wanted it to fall, which is why there have been no panic interventions. I wouldn't be surprised if it hit $1.10 by year end. I'd be far more worried if it was heading towards the $1.60 promoted by some on here.....

It was not grossly over-valued at all, at 1.50 on the evening of June 23rd it was below the 5 year average of 1.55 and the 10 year average of 1.65.

 

[Pienaar's gloves]

Nothing in there is not factual!

'I like chocolate' is factual mate, but it isn't relevant.

 

[peteblue]

It's not a blip Joey, sterling is down 20% against the dollar since June 23, and from a technical perspective there's little resistance until 1.10.

That has a huge impact on input prices and energy prices (priced in dollars). Petrol and diesel prices are due to go up by around 5p a litre at the end of October as a direct result with further rises likely.

Oil price rises also account for any increase, not just the level of the £. Also it means that we get more for our oil as prices increase and we sell it for dollars......

 

[Joey66]

Except that Norway aren't in the EU.

Just shows how much the long arms of the EU will stretch - the fact we cannot do WTO trade deals is down to their stupid ideologist rules when a country votes to leave they bullied Southern Ireland and made the re vote!
It's games!

 

[The Esk]

Oil prices have risen since the slump do not blame Brexit on that point
Yes it's bumpy because our MPs are denying May from showing unity instability will make the market twitch the MP remoaners are harming the country ATM!

On June 23rd Brent crude oil in sterling was £35 a barrel, today it is £43 a barrel.

 

[joey_macmo]

Just shows how much the long arms of the EU will stretch - the fact we cannot do WTO trade deals is down to their stupid ideologist rules when a country votes to leave they bullied Southern Ireland and made the re vote!
It's games!

And there is the change of subject

 

[Pienaar's gloves]

And there is the change of subject

Nice to know that it isn't in my head!