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Exchange rate


JohnRoss

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Worst I heard was that by next year, UK interest rates might be 2.5%.  I know I shouldn't moan and that I'm being selfish and that that rate would help a lot of people with mortgages and loans.

But what about us poor OAPs who've been saving for our retirement and rely on interest on our money to help boost our pensions?

Between the possibility of banks collapsing and taking all our money with them and the relentless lowering of the exchange rate, we might just as well blow the lot ourselves and have a helluva time whilst we still can!

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Don't you believe it sweets.

The BOE base rate may be coming down but most bank's SVR mortgages and loan rates are not because they know the sorry saps are locked in and cannot remortgage anywhere else. Across the pond they call it 'gouging' which I think is a pretty apt description.

Savings rates ARE tumbling though of course, well imagine that [:'(]

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This morning:

The pound has seems to be stuck in the 1.22 are at the moment against

the Euro with no near term prospects for a correction back towards 1.25

and above.

This afternoon 1.19

Source: http://www.euros-pounds-currency-news.blogspot.com/

How low can it go? Any bets?

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Sidddals in May thought the euro rate would trade within 1.20 to 1.30 In reality this proved to be 1.22 to 1.29. Today's bulletin says they feel the rate will not fall below 1.20 but could rise to 1.30/ Based on the fact that most of the economies in europe could weaken more than the UK.No one is set for an esay ride but eh UK should be better positioned. Some economists predict 1.50 within 6 months but Siddalls are not so bullish.

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[quote user="spg"][quote user="Jazzer"]

Today's bulletin says they feel the rate will not fall below 1.20 but could rise to 1.30[/quote]

Just to add that the £ is trading in real time at this very moment on 4xx at 1.1861 if you have £20 000 available to transfer ...

Sue

[/quote]

That will do nicely thanks. but then, we are going the other way with the proceeds of our house sale [:)]

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Where's the thread where people said that if a politician or financial guru said anything negative about the pound, there was an immediate market reaction?

Happened again today; that blithering idiot, Osborne (he of the dodgy affair with the yatch), said there could be a "run on the pound" and, guess what, there's a run on the pound.

As someone also said, why don't these people just shut up?

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[quote user="JohnRoss"]

XE.com showing 1.00 GBP = 1.17167 just now. We're doomed ... DOOMED, Ah tell ye . . . . JR

[/quote]

They are a little out I am afraid, at the close of all the markets for the weekend the rate was, and still is, 1.1665. We have to wait till monday to see which way the wind blows.

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I have been keeping an eye on the exchange rates for the last 17 years.

Interestingly the current painful rates are almost identical to those experienced in the dark days of November 1995.

The Franc / Sterling rate bottomed out at the equivalent of 1.143 Euros to the pound. Within a year it was back to 1.3.

A couple of years ago, all the experts were saying that the days of such wide fluctuations were over!
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There is nothing new in the present exchange rate.

It is more or less the same as when I came here.

There has been a atypical period in which the pound has been ridiculously over-valued.

In any case it makes no difference to people who live and work in France, only to those who depend on UK pensions or savings.

Perhaps it will be the opportunity to have a good clear out.

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[quote user="NormanH"]In any case it makes no difference to people who live and work in France, only to those who depend on UK pensions or savings.
Perhaps it will be the opportunity to have a good clear out.
[/quote]

Yeh, load 'em onto the cattle trucks for Calais......

Why do you hate the rest of us so much?

 

 

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As part of a learning process I am really interested in identifying some members of society that you resent?  Seemingly pensioners are within your compass.  Perhaps it would be helpful to understand exactly those people that you resent and for balance give us some background so perhaps we can also arrive at a decision as to your bona fides.

From where I am sat I am not too sure whether you would be welcomed as a dinner guest or indeed would stay with the dogs.  The dogs may resent it.

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