| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD 13:12 - Sep 24 with 5812 views | itfcjoe |
Though you'd not know it from what the press report on....
More interested in whether Keir Starmer sits in a box at Arsenal. [Post edited 24 Sep 2024 13:22]
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| Glad you don’t work for the press Joe…. on 13:21 - Sep 24 with 4546 views | Bloots |
….not the most insightful headline! |  |
| "The sooner he comes back the better, this place has been a disaster without him" - TWTD User (July 2025) |
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| Glad you don’t work for the press Joe…. on 13:22 - Sep 24 with 4528 views | itfcjoe |
| Glad you don’t work for the press Joe…. on 13:21 - Sep 24 by Bloots |
….not the most insightful headline! |
Don't know what you mean..... | |
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| That’s better. (n/t) on 13:24 - Sep 24 with 4458 views | Bloots |
| Glad you don’t work for the press Joe…. on 13:22 - Sep 24 by itfcjoe |
Don't know what you mean..... |
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| "The sooner he comes back the better, this place has been a disaster without him" - TWTD User (July 2025) |
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| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 13:27 - Sep 24 with 4421 views | soupytwist |
A welcome development having booked a trip to the US for late October! |  | | |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 13:28 - Sep 24 with 4410 views | Zx1988 |
You hit the nail on the head.
Perhaps I should, but I couldn't care less who donates clothes/football tickets etc., to government ministers, nor how much Sue Gray gets paid, if the Government is making a decent fist of running the country, and getting a handle on the cost of living, NHS, public services etc.,
Kroenke and Co could let Starmer pick the team and sit on the bench, for all I care, if I'm able to get a doctor's appointment in a decent time frame. |  |
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| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 13:30 - Sep 24 with 4384 views | SuperKieranMcKenna |
Probably because it’s more a sign of economic problems in both the Eurozone, and the US as opposed to any particularly good data coming out of the UK.
The US has been slower to cut rates (which has weakened the Dollar) with particularly sticky inflation and also has hit potentially unsustainable levels of national debt. I’d expect USD to be fairly volatile until the outcome of the election is clear. In the Eurozone commentators are expecting its largest economy Germany to return to recession. | | | |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 18:08 - Sep 24 with 4005 views | mutters |
Is that due to the ground work laid by the Tories?
Or will Labour claim it as their own achievement? |  |
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| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 18:23 - Sep 24 with 3960 views | WeWereZombies |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 18:08 - Sep 24 by mutters |
Is that due to the ground work laid by the Tories?
Or will Labour claim it as their own achievement? |
I usually keep track of it on a weekly basis and have to say Sterling has been the stronger currency for quite some time (as Joe's headline suggests.) But not by much, all three are pretty stable at the moment and I guess this is a structural situation driven by World trade. I don't follow the Ruble or the Renimbi but both have had their crashes a year or two ago and the stabilised. The Argentine Peso is probably the best example recently of currency collapse on a change of government but generally the economic strength of a nation comes from the stability of the political and commercial culture (United Kingdom and Europe) or a strong supply of in demand resources (Southern Africa and Bolivia for example.) |  |
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| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 18:36 - Sep 24 with 3905 views | SuperKieranMcKenna |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 18:23 - Sep 24 by WeWereZombies |
I usually keep track of it on a weekly basis and have to say Sterling has been the stronger currency for quite some time (as Joe's headline suggests.) But not by much, all three are pretty stable at the moment and I guess this is a structural situation driven by World trade. I don't follow the Ruble or the Renimbi but both have had their crashes a year or two ago and the stabilised. The Argentine Peso is probably the best example recently of currency collapse on a change of government but generally the economic strength of a nation comes from the stability of the political and commercial culture (United Kingdom and Europe) or a strong supply of in demand resources (Southern Africa and Bolivia for example.) |
And to add interest rates are another huge factor - one of the reasons the USD got to such a strong position in the last couple of years was their aggressive rate hikes (whilst other major economies increased rates reactively, some by more base points, the Fed was usually the first to do so). The BoE had an additional 3 rises versus the Fed as they looked to support Sterling following Truss-gate (at which point more or less reached parity).
Russia is another good example, after the Rouble collapsed following sanctions and loss of access to capital markets, the central bank dramatically increased rates to prop it up. The latest rise puts the base rate at a rather painful 19pc! | | | |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 18:52 - Sep 24 with 3863 views | Lord_Lucan |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 18:23 - Sep 24 by WeWereZombies |
I usually keep track of it on a weekly basis and have to say Sterling has been the stronger currency for quite some time (as Joe's headline suggests.) But not by much, all three are pretty stable at the moment and I guess this is a structural situation driven by World trade. I don't follow the Ruble or the Renimbi but both have had their crashes a year or two ago and the stabilised. The Argentine Peso is probably the best example recently of currency collapse on a change of government but generally the economic strength of a nation comes from the stability of the political and commercial culture (United Kingdom and Europe) or a strong supply of in demand resources (Southern Africa and Bolivia for example.) |
Renimbi Is pretty much tied to US Dollar.
Sterling needs to get up to and above 1.6 against USD, anything under that and we’re always going to feel the pinch. |  |
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| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 19:27 - Sep 24 with 3789 views | DJR |
I am not sure this is much to write home about.
Following the Brexit referendum result, the Pound dropped sharply in value against the Euro.
The Pound fell 16% against the Euro in the 4 months following the Brexit referendum, including 6% on the actual day of the result.
The rate has yet to rebound to pre-Brexit levels.
For the last few years, the Pound to Euro rate has spent most of the time in a range between €1.10 – €1.20, although it has briefly traded outside this range on a few occasions. Back in 2015 the rate on occasions approached €1.45.
Still, the Express is celebrating today's rate as a Brexit bonus.
https://www.express.co.uk/finance/city/1952446/sterling-pound-rises-euro-brexit [Post edited 24 Sep 2024 19:37]
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| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 20:12 - Sep 24 with 3663 views | Lord_Lucan |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 19:27 - Sep 24 by DJR |
I am not sure this is much to write home about.
Following the Brexit referendum result, the Pound dropped sharply in value against the Euro.
The Pound fell 16% against the Euro in the 4 months following the Brexit referendum, including 6% on the actual day of the result.
The rate has yet to rebound to pre-Brexit levels.
For the last few years, the Pound to Euro rate has spent most of the time in a range between €1.10 – €1.20, although it has briefly traded outside this range on a few occasions. Back in 2015 the rate on occasions approached €1.45.
Still, the Express is celebrating today's rate as a Brexit bonus.
https://www.express.co.uk/finance/city/1952446/sterling-pound-rises-euro-brexit [Post edited 24 Sep 2024 19:37]
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GBP to Euro isn’t as relevant as GBP v USD.
When Brexit happened Sterling crashed against the dollar. It remains one of the reasons people are skint. I remember in or around 2008 it was 2.09.
1.35 is nothing to cheer about. | |
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| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 08:38 - Oct 3 with 2918 views | DJR |
Today’s fall means the pound has now lost all its gains against the dollar over the last two weeks, since the US Federal Reserve slashed its lending rate by half of a percent.
[Post edited 3 Oct 2024 8:43]
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| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 08:45 - Oct 3 with 2843 views | SuperKieranMcKenna |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 08:38 - Oct 3 by DJR |
Today’s fall means the pound has now lost all its gains against the dollar over the last two weeks, since the US Federal Reserve slashed its lending rate by half of a percent.
[Post edited 3 Oct 2024 8:43]
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Yep, hence my point that previous gains were driven by the Fed being a step behind. And the latest data in the UK is showing that inflation is proving sticky here too. That’s why it’s always been better to listen to the comments coming out of the BoE rather than central govt - they’ve always been much more bearish (in in my opinion more realistic) on rate cuts. | | | |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 08:53 - Oct 3 with 2775 views | DJR |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 08:45 - Oct 3 by SuperKieranMcKenna |
Yep, hence my point that previous gains were driven by the Fed being a step behind. And the latest data in the UK is showing that inflation is proving sticky here too. That’s why it’s always been better to listen to the comments coming out of the BoE rather than central govt - they’ve always been much more bearish (in in my opinion more realistic) on rate cuts. |
That's right. And the point I made a couple of weeks ago was that Brexit appeared to me to have caused a structural change in the value of the pound, which is really unaffected by the sort of fluctuations caused by things like variations in the pace of interest changes. [Post edited 3 Oct 2024 8:56]
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| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 09:12 - Oct 3 with 2652 views | Zapers |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 20:12 - Sep 24 by Lord_Lucan |
GBP to Euro isn’t as relevant as GBP v USD.
When Brexit happened Sterling crashed against the dollar. It remains one of the reasons people are skint. I remember in or around 2008 it was 2.09.
1.35 is nothing to cheer about. |
Actually it was the financial crisis in 2008/9 that crashed the pound to its current level against the USD. It’s never recovered since. | | | |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 09:17 - Oct 3 with 2602 views | DJR |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 09:12 - Oct 3 by Zapers |
Actually it was the financial crisis in 2008/9 that crashed the pound to its current level against the USD. It’s never recovered since. |
That's not right. It did recover after 2008/2009.
https://www.macrotrends.net/2549/pound-dollar-exchange-rate-historical-chart#:~: [Post edited 3 Oct 2024 9:29]
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| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 09:20 - Oct 3 with 2570 views | Zapers |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 09:12 - Oct 3 by Zapers |
Actually it was the financial crisis in 2008/9 that crashed the pound to its current level against the USD. It’s never recovered since. |
Add to that the Euro has been strong against the pound for a long while, way before Brexit. | | | |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 09:33 - Oct 3 with 2486 views | Zapers |
So if it recovered what is it today? I don’t call that a recovery. | | | |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 09:40 - Oct 3 with 2450 views | DJR |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 09:33 - Oct 3 by Zapers |
So if it recovered what is it today? I don’t call that a recovery. |
You said that, it was the financial crisis in 2008/9 that crashed the pound to its current level against the USD and I was merely pointing out that is subsequently recovered. In other words, the effect of the financial crisis on the value of the pound was fairly temporary.
Looking at the chart I posted my view is that it is Brexit that is responsible for its current level. And I don't think I'm alone.
https://www.economicsobservatory.com/how-has-brexit-affected-the-value-of-sterli [Post edited 3 Oct 2024 9:42]
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| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 09:59 - Oct 3 with 2377 views | Zapers |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 09:40 - Oct 3 by DJR |
You said that, it was the financial crisis in 2008/9 that crashed the pound to its current level against the USD and I was merely pointing out that is subsequently recovered. In other words, the effect of the financial crisis on the value of the pound was fairly temporary.
Looking at the chart I posted my view is that it is Brexit that is responsible for its current level. And I don't think I'm alone.
https://www.economicsobservatory.com/how-has-brexit-affected-the-value-of-sterli [Post edited 3 Oct 2024 9:42]
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Currencies fluctuate for differing reasons. The USD being the currency of choice, when there is a world crisis, yes it gets stronger. Whether brexit had much significance in general, maybe. However what originally crashed the pound was the 2008/9 financial crisis. The pound nearly went to parity against the USD. | | | |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 10:20 - Oct 3 with 2312 views | WeWereZombies |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 09:59 - Oct 3 by Zapers |
Currencies fluctuate for differing reasons. The USD being the currency of choice, when there is a world crisis, yes it gets stronger. Whether brexit had much significance in general, maybe. However what originally crashed the pound was the 2008/9 financial crisis. The pound nearly went to parity against the USD. |
I think you will find that in times of complete crisis the Swiss franc is seen as somewhat safer than the dollar:
https://www.reuters.com/markets/currencies/swiss-franc-carry-trade-comes-fraught | |
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| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 10:21 - Oct 3 with 2312 views | DJR |
| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 09:59 - Oct 3 by Zapers |
Currencies fluctuate for differing reasons. The USD being the currency of choice, when there is a world crisis, yes it gets stronger. Whether brexit had much significance in general, maybe. However what originally crashed the pound was the 2008/9 financial crisis. The pound nearly went to parity against the USD. |
I am not quite sure where you get your statistics from but the pound didn't nearly reach parity with the dollar in 2008/9: the lowest it reached was 1.37 in 2009.
The only time it did nearly reach parity was in the 80s and after the Truss budget.
https://www.ft.com/content/46efe36d-347b-427a-8d6f-908dccbc9431#:~:text=As%20the [Post edited 3 Oct 2024 10:21]
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| Pound reaches 2 year high vs the Euro, and 2.5 year high vs the USD on 10:52 - Oct 3 with 2226 views | Zapers |
The USD is way more important that the Swiss Franc, but yes Switzerland and Japan are also regarded as safe havens in times of turmoil.
The USD is still the worlds major currency. | | | |
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