Brexit slowly becoming a Farce.

[Antlion]

17 minutes ago, Highlandmagyar said:

All this Brexit turmoil. Imagine if we had voted yes,we would be out of UK. And Euroland would've told us to ram it and the mess we would have been in would make Zimbabwe look a stable economy.

Back to agreeing that Scotland is a shit, incapable pariah after that brief flowering of outrage that it was being treated as a colony? Whatever helps you eat your cereal, I guess.

[strichener]

7 hours ago, williemillersmoustache said:

 

take back control

A perfect example of where the problems with the current financial system rest.  With absolutely no news, the fourth most traded currency in the world falls 5%.  Mental.

[Michael W]

A Francois Hollande story demanding tough negotiations apparently the cause - computer algorithim hit the sell button in response. 

Pound still down on its immediate recovery value at the minute, however.  

[dorlomin]

[topcat(The most tip top)]

Bad news for anybody who's planning on going on Safari around Harare

Pound Down to a 7 year low against the Zimbabwean Dollar 19% down  since the referendum


 

[Alan Stubbs]

I'm not one of these people wanting a re-run but it would be interesting to see what the support for Brexit actually is now.

Still laughably high I'm sure but the "what the f**k have we done" vote would surely take it comfortably below 50%.

[WILLIEA]

1 hour ago, topcat(The most tip top) said:

Bad news for anybody who's planning on going on Safari around Harare

Pound Down to a 7 year low against the Zimbabwean Dollar 19% down  since the referendum


 

Good news is that we'll get lots more Zimbabwean tourists to boost the economy. 

( Maybe )

[topcat(The most tip top)]

Good news is that we'll get lots more Zimbabwean tourists to boost the economy. 

( Maybe )

Glass half full post

[doulikefish]

£1=1 euro at airport exchange offices

[Redstarstranraer]

The BBC have rounded up a few experts from the City to give their opinions on whether or not last night was a just temporary blip:

A plunge in the value of the pound is not an overnight phenomenon and is only going to get worse, according to analysts.

David Bloom, strategist at HSBC, forecasts that the pound could fall to $1.10 by the end of 2017 and sterling may hit parity against the euro. "The currency is now the de facto official opposition to the government's policies," he said.

Mr Bloom added: "The argument which is still presented to us, that the UK and EU will resolve their difference and come to an amicable deal, appears a little surreal.

"It is becoming clear that many European countries will come to the negotiation table looking for political damage limitation rather than economic damage limitation. A lose-lose situation is the inevitable outcome."

Sounds grim, best get a second opinion:

John Wraith, head of UK rates strategy at UBS, predicts: "It is only a matter of time before less positive [economic] data starts to appear."

He expects the pound to reach parity with the euro by the end of next year - it last came close in late 2008.

Hmm maybe the Americans will be more positive about our prospects:

Bank of New York Mellon forecast a month ago that the pound will fall against the dollar to $1.10 by next August.

Neil Mellor, a currency strategist with Bank of New York Mellon, said: "We can dismiss what happened in Asia, but the bias for sterling's performance remains downward."

Surely it can't be all that bad?

Alexandra Russell-Oliver, foreign exchange analyst at Caxton, estimates that the pound could head towards the $1.15 range by the end of 2017.

She predicted that the Bank of England could still decide to cut the interest rate again, putting pressure on the pound.

She said: "So far data has not been as negative as feared which lessened the expectation of the Bank of England acting. But there is still an expectation."

[strichener]

15 minutes ago, Redstarstranraer said:

The BBC have rounded up a few experts from the City to give their opinions on whether or not last night was a just temporary blip:

A plunge in the value of the pound is not an overnight phenomenon and is only going to get worse, according to analysts.

David Bloom, strategist at HSBC, forecasts that the pound could fall to $1.10 by the end of 2017 and sterling may hit parity against the euro. "The currency is now the de facto official opposition to the government's policies," he said.

Mr Bloom added: "The argument which is still presented to us, that the UK and EU will resolve their difference and come to an amicable deal, appears a little surreal.

"It is becoming clear that many European countries will come to the negotiation table looking for political damage limitation rather than economic damage limitation. A lose-lose situation is the inevitable outcome."

Sounds grim, best get a second opinion:

John Wraith, head of UK rates strategy at UBS, predicts: "It is only a matter of time before less positive [economic] data starts to appear."

He expects the pound to reach parity with the euro by the end of next year - it last came close in late 2008.

Hmm maybe the Americans will be more positive about our prospects:

Bank of New York Mellon forecast a month ago that the pound will fall against the dollar to $1.10 by next August.

Neil Mellor, a currency strategist with Bank of New York Mellon, said: "We can dismiss what happened in Asia, but the bias for sterling's performance remains downward."

Surely it can't be all that bad?

Alexandra Russell-Oliver, foreign exchange analyst at Caxton, estimates that the pound could head towards the $1.15 range by the end of 2017.

She predicted that the Bank of England could still decide to cut the interest rate again, putting pressure on the pound.

She said: "So far data has not been as negative as feared which lessened the expectation of the Bank of England acting. But there is still an expectation."

None of that is bad.  If the experts are predicting doomsday then you can be pretty certain that it won't happen. 

Far from getting worse, the underlying economic indicators in the UK have been improving.  I think people will look back on this time as a f**k up by the BOE in reducing interest rates and increasing QE based on opinion rather than data.

[topcat(The most tip top)]

13 minutes ago, strichener said:

None of that is bad.  If the experts are predicting doomsday then you can be pretty certain that it won't happen. 

Far from getting worse, the underlying economic indicators in the UK have been improving.  I think people will look back on this time as a f**k up by the BOE in reducing interest rates and increasing QE based on opinion rather than data.

Any particular indicators in mind?
 

[welshbairn]

1 hour ago, doulikefish said:

£1=1 euro at airport exchange offices

Pretty chuffed I changed a load the evening of the referendum at £1=1.29 euros, with a holiday coming up next month.

[doulikefish]

Interestingly the Bitcoin is up nearly £28 since brexit

[NotThePars]

You get your VL status back as soon as you buy up Bitcoin though.

[strichener]

37 minutes ago, topcat(The most tip top) said:

Any particular indicators in mind?
 

GDP Growth, PMI, Consumer Confidence, Retail Sales, Exports, Taxation Income, Manufacturing

[doulikefish]

You get your VL status back as soon as you buy up Bitcoin though.

Shit i bought 10 a few years ago

[Jambomo]

Horrific stuff - we are actually becoming Germany circa 1930

Link to www.theguardian.com

[hehawhehaw]

19 minutes ago, Jambomo said:

Horrific stuff - we are actually becoming Germany circa 1930

Link to www.theguardian.com

Sober up hen

[Jambomo]

1 minute ago, hehawhehaw said:

Sober up hen

Schools sending letters to parents asking them to confirm their children's nationality – foreign doctors “allowed to stay” until they can be replaced – firms ordered to disclose how many foreign workers the have - the uncertain status of EU nationals living in the UK is “one of our main cards” - lies told during the referendum campaign are “unimportant” - now foreign academics not allowed to advise the government.

 

Why don't you show some evidence to prove that i'm wrong?