Gran Alacant Forum

Gran Alacant Forum => General Discussions => Topic started by: Maricia on March 18, 2020, 18:41.

Title: Pound v Other Currencies
Post by: Maricia on March 18, 2020, 18:41.

Does anyone know why the Pound is taking a such a hit against all other currencies?

BW

Maricia

Title: Re: Pound v Other Currencies
Post by: John H on March 18, 2020, 19:08.

One main  reason Maricia, Boris's push towards a no deal Brexit.
A second factor is the Quantative Easing, printing money, that is predicted.
I read one article last week that that predicted the pound going below parity with the euro

Regards all

John

Title: Re: Pound v Other Currencies
Post by: kevinb on March 18, 2020, 19:50.

Would expect that as mainland Europe is in lockdown the Euro will crash soon.

Title: Re: Pound v Other Currencies
Post by: Tony Gillam on March 19, 2020, 07:39.

At the moment, my decision to buy a grands worth of Euros about six weeks ago at 1.16 seems to have been a shrewd move. Not sure where I'm going to get to spend them though.

Title: Re: Pound v Other Currencies
Post by: Maricia on March 19, 2020, 15:24.

Thanks for responses,

apparently it is to do with Bank of England offering unlimited 'Quantitative Easing' (i.e.creating extra virtual monies) for large company financing and this has made the £ take the hit - according to the Financial Times.

BW

Maricia

Title: Re: Pound v Other Currencies
Post by: DaveG on March 20, 2020, 14:15.

https://www.thetimes.co.uk/article/the-economy-was-spluttering-even-before-this-pandemic-hit-kfqqp3vwh

Although I don't agree with all the detail is, on the whole an informative article .

As John says Boris is pushing for a no deal exit which has possibly been his plan all along.

Dave

Title: Re: Pound v Other Currencies
Post by: DaveG on March 20, 2020, 14:17.

The link in the previous post may not open fully - sorry

Dave

Title: Re: Pound v Other Currencies
Post by: wilson on March 20, 2020, 22:12.

Whilst the current financial situation will be absolutely dire for the world, the winners if you can call them that will be the economies that are able to bounce back quickest. My opinion is the eu 27 will be bust for years supporting Greece, Spain , Italy , Portugal and many more. If the uk remains a member we would share they’re pain, by exiting the zone in December we might have a better chance.

Title: Re: Pound v Other Currencies
Post by: kevinb on March 21, 2020, 04:44.

You are spot on Wilson.