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GBP USD

Discussion in 'Off-Topic' started by RTG10, Oct 7, 2016.

  1. RTG10

    RTG10
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    I cant believe the GBPUSD is plummeting this far, it's genuinely putting into question my trip in January, can I really justify spending 50% more to gamble my money away?

    I cant even see any upside at the moment, unless Trump manages to secure the election somehow then I can see the USD devaluing!

    Pray for us here in the UK!
     
  2. shifter

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    @VEGASBJ had the right idea.

    perfect time for a Europe trip!
     
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  3. VEGASBJ

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    Yep, and I have an Ireland Golf trip planned for next May, and I just prepaid the trip to lock in the low exchange rate as the trip was booked in GBP. Already a winning trip!
     
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  4. MrStealth

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    Just saw it was at 1.24/usd. What are they saying caused the sudden drop ?
     
  5. shifter

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    Likely the powers that be trying to scare Britain out of following through with Brexit.
     
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  6. nickpapageorgio

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    "Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful." - Warren Buffett

    GB remains one of the most powerful economies in the world. There's money to be made here. Institutional investors are making bank both on the down and upticks. Unfortunately, business as usual.
     
  7. CorinneUK

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    This is what is in my paper today with the reason.

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  8. wigwam_timeshares

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    Definitely. US and Chinese tourism is up massively this year.

    There is no sudden drop. The exchange rate was predicted to be around 1.3 in October 2016 as far back as early 2014. Maybe the Brexit vote has given it a bit of a further drop but it hasn't suddenly plummeted because of it. Assuming that our Brexit strategy does change the way we trade with Europe the soonest that will happen is 18 months off. No businesses are going to hedge their bets that far in advance when it comes to what they buy and sell. True, someone like Honda might park the idea of a new factory until they know what is going on but they are still going to sending the same amount of new cars around Europe without any change to their cashflow for the next year or two.

    I don't think they need to bother, the tabloids are doing all of that work for them.

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    There are some really bad tabloids, but none are in the same ballpark for vitriol as the Daily Mail.
     
  9. CorinneUK

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    Lol. You're so right wigwam.
     
  10. RTG10

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    There is undoubtedly an element of bearishness being driven in the markets by those who would be repositioned to work in europe as a result of loss of access to the single market. Creating enough fiscal pressure to require intervention by the BOE is a deliberate tactic and one that the BOE has already said may affect future monetary policy. Lets not be naive enough to think they aren't playing games.
     

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