Where is Pound £ heading?

Glen_Clark

lvader wrote: »

There is more to world currencies than the Euro which has been one of the strongest this year. Compared to the USD the current rate is about average for the last 30 years or so.

I've never really understood why Britain tags on to the USA and derides its European neighbors, rejecting their currency and opting out of European laws, especially when America treats Britain like sh*t - look at BP.
But back to the OPs question 'where is the pound heading?' I say downhill as always, the only question is how fast.

lvader

Glen_Clark wrote: »

I've never really understood why Britain tags on to the USA and derides its European neighbors, rejecting their currency and opting out of European laws, especially when America treats Britain like sh*t - look at BP.
But back to the OPs question 'where is the pound heading?' I say downhill as always, the only question is how fast.

Since the thread started it's been uphill and quite fast.

Thrugelmir

Glen_Clark wrote: »

especially when America treats Britain like sh*t - look at BP.

BP became an international not British Company a long time ago. US investors control around 40% of issued equity. Same for the UK.

sabretoothtigger

US have equity because BP merged with a USA company, I think it was standard oil or one of its descendants.

Alot of the news is an act. BP is supplier to US military which is quite a customer to have, also operator of their largest oil field and so on.
BP shoot themselves in the foot quite often, though they have been a pioneer in advancement at times

20% of BP is Russian now, whatever it is its not UK except historically. I doubt we have the majority of ownership just because its so big and UK is so poor at saving/investing on average

JohnRo

lvader wrote: »

Since the thread started it's been uphill and quite fast.

Don't forget it's a race to the bottom. You mean it's sinking less rapidly.

John1993_2

Glen_Clark wrote: »

I've never really understood why Britain tags on to the USA and derides its European neighbors, rejecting their currency and opting out of European laws, especially when America treats Britain like sh*t - look at BP.
But back to the OPs question 'where is the pound heading?' I say downhill as always, the only question is how fast.

And will you keep predicting that forever, or will you hold up your hands one day and accept that you were talking !!!!?

Glen_Clark

lvader wrote: »

Since the thread started it's been uphill and quite fast.

well of course it won't fall every day, some days it will rise. But the general trajectory will still be down because the Government has hit on inflation as their favorite stealth tax.

JohnRo

The simple answer to the OP question is that the pound is heading towards a value of zero as are all other fiat currencies at varying rates of descent.