GBP vs THB

[ahandpatsy]

That daily mail (as are most daily mail financial articles) is inaccurate. Look at the trends on the graphs both going down. One says £/Euro the other says $/£. The BOTH cant indicate weakness. Unfortunately people just read the headlines and not the details.

[AllanH]

The first graph should be Euro/pound rather than the other way around, but the rates seem accurate and therefore the weakening pound is clear against both currencies. Of course if the pound does get much weaker they will likely have to reverse the sign and the graph as it is normal to show the rate against the stronger currency as it is easier to understand. When that starts happening then you will really know that you are in Sh***

[PET]

We are in the sad state of affairs where every country on the planet is now waging war to have a weaker currency to help it deal with low growth. UK is no exception and based on the most insipid recovery on the planet we can expect the government to subtly encourage further losses. Sad but true

Over the last 2+ years the Bank of England has put out poor growth figures or some adverse comment, each time the £Stg has appreciated and down it goes.

You are correct and this is still their policy

[chopsticks]

We are in the sad state of affairs where every country on the planet is now waging war to have a weaker currency to help it deal with low growth. UK is no exception and based on the most insipid recovery on the planet we can expect the government to subtly encourage further losses. Sad but true

Over the last 2+ years the Bank of England has put out poor growth figures or some adverse comment, each time the £Stg has appreciated and down it goes.

You are correct and this is still their policy

The sooner Mervyn King departs the better.
Did he ever admit any responsibility for the banking debacle ?

Let's hope his Canadian replacement can work wonders.

[StevePIraq]

Interesting point to note is that the International Monetary Fund (IMF) ranks the UK economy as 10th most at risk economy in the world.

No. 1 goes to Japan not surprisingly with all of the problems it continually has and No. 2 goes to the United States of America for developing a get rich quick plan of just printing money.

[dtaai-maai]

Interesting point to note is that the International Monetary Fund (IMF) ranks the UK economy as 10th most at risk economy in the world.

I'm not quite sure how that should be seen, but it looks pretty good to me. Doesn't make much difference in the short term, mind.

[Pleng]

I just had an email from the company that deals with my exchanges.

This morning’s closely-watched GDP figure has revealed that the UK economy contracted by a disappointing 0.3% in the final quarter of 2012. This means that national output was flat in 2012.

The news will have plenty of investors nervous about a triple-dip UK recession and rightly so, the snowy weather will certainly have made it a slow start for growth in 2013.

Very true, but then again most of the euro zone is struggling too, so why isn't the euro suffering likewise?

I guess it's because the Euro is expected to do poorly and thus investors treat it poorly. The pound is generally considered more stable than the Euro so when bad news hits it, investors react quicker/more drastically.

I have no idea, this is all just guess work.

[StevePIraq]

This morning’s closely-watched GDP figure has revealed that the UK economy contracted by a disappointing 0.3% in the final quarter of 2012. This means that national output was flat in 2012.

The news will have plenty of investors nervous about a triple-dip UK recession and rightly so, the snowy weather will certainly have made it a slow start for growth in 2013.

[/quote]

Very true, but then again most of the euro zone is struggling too, so why isn't the euro suffering likewise?[/quote]

I guess it's because the Euro is expected to do poorly and thus investors treat it poorly. The pound is generally considered more stable than the Euro so when bad news hits it, investors react quicker/more drastically.

I have no idea, this is all just guess work.[/quote]

Doesn't look as if the Pound is more stable today.

http://www.bbc.co.uk/news/business-21302776

Pound being considered at risk is due to out of control government spending giving United Kingdom Government Debt To GDP at 85%, a stage when the IMF considers it almost impossible to avoid going into serious long term recession.

Many of us here have UK pensions or investments so it is no comfort seeing the Pound go this way. Lets hope for better days to come.

[Siani]

This morning’s closely-watched GDP figure has revealed that the UK economy contracted by a disappointing 0.3% in the final quarter of 2012. This means that national output was flat in 2012.

The news will have plenty of investors nervous about a triple-dip UK recession and rightly so, the snowy weather will certainly have made it a slow start for growth in 2013.

Very true, but then again most of the euro zone is struggling too, so why isn't the euro suffering likewise?[/quote]

I guess it's because the Euro is expected to do poorly and thus investors treat it poorly. The pound is generally considered more stable than the Euro so when bad news hits it, investors react quicker/more drastically.

I have no idea, this is all just guess work.[/quote]

Doesn't look as if the Pound is more stable today.

http://www.bbc.co.uk/news/business-21302776

Pound being considered at risk is due to out of control government spending giving United Kingdom Government Debt To GDP at 85%, a stage when the IMF considers it almost impossible to avoid going into serious long term recession.

Many of us here have UK pensions or investments so it is no comfort seeing the Pound go this way. Lets hope for better days to come.[/quote]
On my computer screen £ will only buy 1.15 euro, it's really dropped

[chopsticks]

Plunged again today as it's revealed that Sir Mervyn King wanted (but didn't get) to print another £25
billion to add to the existing £375 billion of 'Quantitative easing'.

Now at its lowest against USD for over one year.
$1.63 in January, now $1.53.

When does he finally retire ?

(The 4G spectrum auction has also realised about 2 billion less than expected).

[JimmyGreaves]

Plunged again today as it's revealed that Sir Mervyn King wanted (but didn't get) to print another £25
billion to add to the existing £375 billion of 'Quantitative easing'.

Now at its lowest against USD for over one year.
$1.63 in January, now $1.53.

When does he finally retire ?

(The 4G spectrum auction has also realised about 2 billion less than expected).

Now 1.52. What a disaster. The baht sitting at 45.5 Das ist Scheiße!

They say it helps our exports a low pound, what do we export these days, Services?

A Year In The Life Pound - Baht

[richard]

I'VE DECIDED THIS IS MY LAST POST ON THIS FORUM FOR A WHILE.

Every time I do there is this depressing set of figures in the right hand margin telling me my income is shrinking daily

[MrPlum]

I'VE DECIDED THIS IS MY LAST POST ON THIS FORUM FOR A WHILE.

Every time I do there is this depressing set of figures in the right hand margin telling me my income is shrinking daily

I never look at it.

A new 'lower low' means we are heading to 40 next. Soros no doubt making a fortune.

[musungu]

Sterling continues to weaken against the dollar and the euro due to continued worries about the health of the UK economy.
This week the Bank of England policymaker Martin Weale said that sterling may need to weaken further to bolster the Uk economy, by making exports cheaper and boost growth. The Governer said that the bank was ready to tolerate higher inflation to support the economy.

The currency market say that these comments from the B of E are quite openly cheer-leading the pound down as a way to closing the UK's external imbalance and generating a cyclical recovery, whilst speculators have built up their largest ''short'' sterling bets since a year ago

With the strength of Thailand's economy the pound will find it very difficult to appreciate against the Baht in the near term, unless the Thailand Central Bank reduces interest rates.

Doom and gloom for UK pensioners I'm afraid

[richard]

Belt tightening already and unless I am repaid my loans to fellow farangs here it's either back to the jungle or join Sandman