Pound continuing its slide . Where will it all end ?

itsnever2lateisit?

MrExample wrote: »

It's great news for exporters like myself. I've had a quite a nice pay rise since the peak of 2.1x early in the year.

Exactly. There is a structural deficit in the UK economy, the pound will continue to fall until that is corrected, which means buying British, and importing less from China et al. By making those imports more expensive will make us change our habits. In short we are running out of £££ to exchange for $$$ with which to buy them

itsnever2lateisit?

eeja wrote: »

Didn't think England had much left to export nowadays. Don't most foreign
currency earnings come from the service sector esp. the City ? NOW EVEN THAT SECTOR HAS BEEN DECIMATED.
My guess is you are employed in the tourIsm sector which will indeed boom next year. The Yanks will be over in droves !

Over half of all cars made here go abroad, even though the companies that own them aren't british.

The higher costs of transport and the weaker £ have caused Honda to assemble the Jazz here (from next year) rather than ship them half way round the world

earlgrey_3

eeja wrote: »

When I last looked this evening $1.55.70 . Terrible news for Brits.... All agree ?

Aren't you missing something?

A lower pound means that our exports are more competitive and so good for jobs which is currently a major concern. It means that car manufacturers like Nissan are more likely to keep open their Sunderland plant making the highly successful Qashqai rather the switch production to Malaysia. Means more call-centre jobs stay here rather than going to India. Means less building trade jobs are taken by EU immigrants. Means the UK becomes more attractive for inward investment. Reducing the value of the pound to increase competitiveness is part of the reason for the interest rate cuts.

So perhaps not such good news for Brits with time to spend on Florida beaches but good news for Brits who want to work looking for jobs.

Wolf_Man

IMO when 1 Pound = 1 Euro (or very close)

And then Brown will adopt the Euro...

Everything else of his fiscal policy has been thrown out of the window, why not his famed 'tests'.