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Sterling Weakens Against Euro

DecentLivingWage
DecentLivingWage Posts: 738 Forumite
in Debate House Prices & the Economy
The British pound is sinking against the Euro say experts - due to increased likelihood that the Cons austerity plan A is making the loss of triple A rating more likely, and also business uncertainty about the Cons commitment to the European union (BBC)

http://www.bbc.co.uk/news/business-21068861
«134567…10

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Don't tell me it's those posh boys fault.
  • Conrad
    Conrad Posts: 33,137 Forumite
    10,000 Posts Combo Breaker
    The Chinese and S Koreans built thriving economies on low priced currency.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Conrad wrote: »
    The Chinese and S Koreans built thriving economies on low priced currency.

    Cheap labour was a contributory factor as well. Along with what was up to recently cheap shipping costs from the Far East. Though these days are numbered.
  • ManAtHome
    ManAtHome Posts: 8,512 Forumite
    Part of the Furniture Combo Breaker
    Higher than it was mid 2010 - wonder what's happened since then... http://www.x-convert.com/chart/GBP-EUR?period=10y
  • Wookster
    Wookster Posts: 3,795 Forumite
    We have yet another hopeless party broadcast.

    :yawn:
  • DecentLivingWage
    DecentLivingWage Posts: 738 Forumite
    The BBC a hopeless party broadcast... just because article states the bl
    g obvious? Cons dont have joined up thinking on europe so traders prefer countries who do! Not sure how hopeless Lab 35,Cons 22 % is btw....
  • BobQ
    BobQ Posts: 11,181 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Combo Breaker
    Wookster wrote: »
    We have yet another hopeless party broadcast.

    :yawn:

    Another constructive comment?
    Few people are capable of expressing with equanimity opinions which differ from the prejudices of their social environment. Most people are incapable of forming such opinions.
  • Moby
    Moby Posts: 3,917 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Wookster wrote: »
    We have yet another hopeless party broadcast.

    :yawn:
    Jog off then!
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    As the UK borrows in Sterling it matters not one jot what the exchange rate is vis-a-vis the credit rating.

    As usual the OP has got everything the wrong way round as the article states that the pound is low due to the risk to the AAA credit rating.

    That in itself is rubbish. Have a look at the EUR/CHF FX rate for example and you can see that this is due to EUR strength not GBP weakness. The SNB have spent more than a year trying to keep the rate at 1.20 and in the past few weeks it's blown out to 1.25 to the extent that the financial press are talking about the SNB (Swiss National Bank) starting to unwind their market intervention that was preventing the CHF strengthening above 1.20.

    If you rely on the BBC for your finance news then you'll look dumb much of the time. It's better than some newspapers but not by much.
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    Wookster wrote: »
    We have yet another hopeless party broadcast.

    :yawn:

    Stick him on ignore. I did and the world is a better place for it.

    I'm happy to discuss stuff with lefties: everyone is entitled to their own pov. This propaganda is just boring.
This discussion has been closed.
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