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THE DEATH OF THE POUND IS IMMINENT

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Re: THE DEATH OF THE POUND IS IMMINENT

Postby Pyrpolizer » Tue Mar 21, 2017 11:24 pm

miltiades wrote:Returning to the main theme of this thread and the impending demise, in my opinion, of sterling following the announcement that Article 50 will be invoked Wednesday week March 29th.

I hope that my gut feelings are proven wrong and that the pound will be steady.

I just can not see how on earth Sterling can survive at its current levels given that the financial markets have, since June 23rd, given the thumbs down to the pound. Right now Stg is trading at 1.146 to the euro and 1.236 to the dollar., Later on today I feel that the pound will lose more ground as the impact of the forthcoming A50 " invoke" takes hold.

Again I stress that my hope is that Im dreadfully wrong, somehow I dont think so.


Milti what was all this delay from the referendum to the 29th of March about? Presumably it was meant to be a preparation period. Did they get prepared, or just wasted the time for nothing?
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby Londonrake » Wed Mar 22, 2017 7:59 am

miltiades wrote:Returning to the main theme of this thread and the impending demise, in my opinion, of sterling following the announcement that Article 50 will be invoked Wednesday week March 29th.

I hope that my gut feelings are proven wrong and that the pound will be steady.

I just can not see how on earth Sterling can survive at its current levels given that the financial markets have, since June 23rd, given the thumbs down to the pound. Right now Stg is trading at 1.146 to the euro and 1.236 to the dollar., Later on today I feel that the pound will lose more ground as the impact of the forthcoming A50 " invoke" takes hold.

Again I stress that my hope is that Im dreadfully wrong, somehow I dont think so.


Actually, it's gone back up since the announcement on the 20th. I wonder why? What's changed? Profit taken?

I'm sure it will continue to oscillate right through the negotiating period. Every scrap of news, even the trivial, will affect "sentiment" (aka profit).

If reality catches up with the € then of course it could bounce significantly upwards. The Euro would then be a "volatile" currency and the object of targeting in itself.
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby miltiades » Wed Mar 22, 2017 10:07 am

Londonrake wrote:
miltiades wrote:Returning to the main theme of this thread and the impending demise, in my opinion, of sterling following the announcement that Article 50 will be invoked Wednesday week March 29th.

I hope that my gut feelings are proven wrong and that the pound will be steady.

I just can not see how on earth Sterling can survive at its current levels given that the financial markets have, since June 23rd, given the thumbs down to the pound. Right now Stg is trading at 1.146 to the euro and 1.236 to the dollar., Later on today I feel that the pound will lose more ground as the impact of the forthcoming A50 " invoke" takes hold.

Again I stress that my hope is that Im dreadfully wrong, somehow I dont think so.


Actually, it's gone back up since the announcement on the 20th. I wonder why? What's changed? Profit taken?

I'm sure it will continue to oscillate right through the negotiating period. Every scrap of news, even the trivial, will affect "sentiment" (aka profit).

If reality catches up with the € then of course it could bounce significantly upwards. The Euro would then be a "volatile" currency and the object of targeting in itself.

Up on the euro and up on the dollar in early trading. Almost 1.25 to the dollar and i.155 to the euro.
As I said earlier I do hope that my gloomy predictions are wrong and that Sterling will remain if anything steady following the A50 " Invoke" on March 29th.
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby Londonrake » Wed Mar 22, 2017 10:42 am

miltiades wrote:
Londonrake wrote:
miltiades wrote:Returning to the main theme of this thread and the impending demise, in my opinion, of sterling following the announcement that Article 50 will be invoked Wednesday week March 29th.

I hope that my gut feelings are proven wrong and that the pound will be steady.

I just can not see how on earth Sterling can survive at its current levels given that the financial markets have, since June 23rd, given the thumbs down to the pound. Right now Stg is trading at 1.146 to the euro and 1.236 to the dollar., Later on today I feel that the pound will lose more ground as the impact of the forthcoming A50 " invoke" takes hold.

Again I stress that my hope is that Im dreadfully wrong, somehow I dont think so.


Actually, it's gone back up since the announcement on the 20th. I wonder why? What's changed? Profit taken?

I'm sure it will continue to oscillate right through the negotiating period. Every scrap of news, even the trivial, will affect "sentiment" (aka profit).

If reality catches up with the € then of course it could bounce significantly upwards. The Euro would then be a "volatile" currency and the object of targeting in itself.

Up on the euro and up on the dollar in early trading. Almost 1.25 to the dollar and i.155 to the euro.
As I said earlier I do hope that my gloomy predictions are wrong and that Sterling will remain if anything steady following the A50 " Invoke" on March 29th.


I don't think your gloomy prediction is wrong. :( We differ I know but in the medium term I earnestly believe all will be well. I don't of course have your more immediate problems to worry about though.

However, we might reflect upon the comforting thought that, at the end of the day - there will always remain - our Shiraz. :lol: :wink:
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby miltiades » Wed Mar 22, 2017 10:55 am

Londonrake wrote:
miltiades wrote:
Londonrake wrote:
miltiades wrote:Returning to the main theme of this thread and the impending demise, in my opinion, of sterling following the announcement that Article 50 will be invoked Wednesday week March 29th.

I hope that my gut feelings are proven wrong and that the pound will be steady.

I just can not see how on earth Sterling can survive at its current levels given that the financial markets have, since June 23rd, given the thumbs down to the pound. Right now Stg is trading at 1.146 to the euro and 1.236 to the dollar., Later on today I feel that the pound will lose more ground as the impact of the forthcoming A50 " invoke" takes hold.

Again I stress that my hope is that Im dreadfully wrong, somehow I dont think so.


Actually, it's gone back up since the announcement on the 20th. I wonder why? What's changed? Profit taken?

I'm sure it will continue to oscillate right through the negotiating period. Every scrap of news, even the trivial, will affect "sentiment" (aka profit).

If reality catches up with the € then of course it could bounce significantly upwards. The Euro would then be a "volatile" currency and the object of targeting in itself.

Up on the euro and up on the dollar in early trading. Almost 1.25 to the dollar and i.155 to the euro.
As I said earlier I do hope that my gloomy predictions are wrong and that Sterling will remain if anything steady following the A50 " Invoke" on March 29th.


I don't think your gloomy prediction is wrong. :( We differ I know but in the medium term I earnestly believe all will be well. I don't of course have your more immediate problems to worry about though.

However, we might reflect upon the comforting thought that, at the end of the day - there will always remain - our Shiraz. :lol: :wink:

My doctor keeps telling me I have to cut down on my Vino medicine, down from 77 units a week to ....14 !! Over my dead body I respond. Being a diabetic of course wine does spike me up in the morning but back to normal levels soon after. Im seeing him this morning for another ....lecture. :lol:
I tell you what mate, some Argentinian and Chilean reds are almost as good as the average French clarets.
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby Londonrake » Wed Mar 22, 2017 11:01 am

After you spent your hard up youth making Boots wine in glass demijohns ..................there is no "average" :lol: :lol: :lol:
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby supporttheunderdog » Fri Mar 24, 2017 3:46 pm

back on topichttp://www.independent.co.uk/news/business/news/pound-sterling-latest-drop-15-per-cent-2017-deutsche-bank-city-london-brexit-eu-a7647571.html

Pound sterling could collapse by another 15% by the end of 2017, says Deutsche Bank
Most economists’ forecasts are still more optimistic than the German lender’s but few expect the currency to recover from its post-referendum lows any time soon

In its latest special report on Brexit released this week the German lender said that the pound could fall as a low as $1.06 against the dollar by the end of 2017, or another 15 per cent.

"We do not see sterling (currently) fully pricing a hard Brexit outcome,“ the bank wrote.

“Combined with limited adjustment in the UK's current account deficit and slowing growth, we see further downside, and forecast $1.06 in by year-end," it added.
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby miltiades » Sat Mar 25, 2017 9:01 am

Sterling finished the week reasonably steady.
Should the predictions of the German bank come to fruition then the pound would be trading below 1 euro !! Of course this dramatic fall has nothing to do with ....brexit :lol:
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby Get Real! » Sat Mar 25, 2017 3:40 pm

miltiades wrote:Sterling finished the week reasonably steady.
Should the predictions of the German bank come to fruition then the pound would be trading below 1 euro !! Of course this dramatic fall has nothing to do with ....brexit :lol:

Oh... so does this mean that you’ll finally get your stingy wallet out at the risk of it seeing the sun and disintegrating? :? :lol:

Btw… you know all those British Crowns you’ve got in a tin under your bed mattress… I hate to inform but banks no longer accept them!

Sorry Milti… :?
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby miltiades » Sat Mar 25, 2017 5:03 pm

Get Real! wrote:
miltiades wrote:Sterling finished the week reasonably steady.
Should the predictions of the German bank come to fruition then the pound would be trading below 1 euro !! Of course this dramatic fall has nothing to do with ....brexit :lol:

Oh... so does this mean that you’ll finally get your stingy wallet out at the risk of it seeing the sun and disintegrating? :? :lol:

Btw… you know all those British Crowns you’ve got in a tin under your bed mattress… I hate to inform but banks no longer accept them!

Sorry Milti… :?

I did say earlier that I switched to US Dollars, right now it seems the safest currency.
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