Effect of the UK General Election on the exchange rate.
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Effect of the UK General Election on the exchange rate.
I realize this is akin to studying chicken entrails.
The currency exchange company I use is quoting 1.137 to the pound. Perhaps the election will have little effect one way or the other, I don't know. The last time I transferred money from the UK was about a year ago before the referendum and got 1.30 then (the good old days!).
I was wondering what the general consensus is for making a currency exchange before or after the UK General Election?
The currency exchange company I use is quoting 1.137 to the pound. Perhaps the election will have little effect one way or the other, I don't know. The last time I transferred money from the UK was about a year ago before the referendum and got 1.30 then (the good old days!).
I was wondering what the general consensus is for making a currency exchange before or after the UK General Election?
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Re: Effect of the UK General Election on the exchange rate.
It depends on who you expect to win. If May wins it will go back up. If Corbyn wins it will go down.
Sid
Sid
Re: Effect of the UK General Election on the exchange rate.
But my pension will rise more and I'll still get winter fuel payment. On balance, I think Corbyn!
Re: Effect of the UK General Election on the exchange rate.
Corbin? No chance especially after the terror in london last night.
Re: Effect of the UK General Election on the exchange rate.
I cannot see any basis for that arguement costakid given the record of the tories
http://www.independent.co.uk/news/uk/po ... 12646.html
http://www.independent.co.uk/news/uk/po ... 12646.html
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Re: Effect of the UK General Election on the exchange rate.
No matter what government is in power.
There is little they can do if some nutters decide ( perhaps being "inspired" by all the attention the others got from the BBC ), they are going to hire a van, get some knives and create havoc. Sad but true.
anyroads
There is little they can do if some nutters decide ( perhaps being "inspired" by all the attention the others got from the BBC ), they are going to hire a van, get some knives and create havoc. Sad but true.
anyroads
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Re: Effect of the UK General Election on the exchange rate.
And getting back to the exchange rate...
I expect a small uplift when the Conservatives are returned with a working majority. Brexit will keep a lid on it for a while alas.
anyroads
I expect a small uplift when the Conservatives are returned with a working majority. Brexit will keep a lid on it for a while alas.
anyroads
Re: Effect of the UK General Election on the exchange rate.
I am curious to know why having a different leader would effect currency rates?El Cid wrote:It depends on who you expect to win. If May wins it will go back up. If Corbyn wins it will go down.
Sid
Re: Effect of the UK General Election on the exchange rate.
Its not so much the change of leader, Wollie, more the effect a hung parliament versus a huge majority would have on the Brexit negotiations and related uncertainty or otherwise on global and more local effects on the pound.
Well - there does seem to be an awfully close thing to a hung parliament so I dont think the pound is going to be healthy for a while.
Well - there does seem to be an awfully close thing to a hung parliament so I dont think the pound is going to be healthy for a while.
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Re: Effect of the UK General Election on the exchange rate.
Hung drawn and quartered
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Re: Effect of the UK General Election on the exchange rate.
I Suggest Theresa May Shuts The Strong & "Stable" Door on the way OUT
https://www.change.org/p/may-out-no-coa ... -the-d-u-p
https://www.change.org/p/may-out-no-coa ... -the-d-u-p
I So Bella tis you
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Re: Effect of the UK General Election on the exchange rate.
No strong mandate now exists on Brexit, let alone a "hard" Brexit. We will see revolt in both the Labour and Tory parties, leading to tactical voting on many issues. The next two years could be interesting.
Only the simple minded May could issue a manifesto that promised to reduce pension increases, means test fuel allowance and remove the cap on care fees. All aimed at her core constituency - the pensioners.
Only the simple minded May could issue a manifesto that promised to reduce pension increases, means test fuel allowance and remove the cap on care fees. All aimed at her core constituency - the pensioners.
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Re: Effect of the UK General Election on the exchange rate.
Yes,
Of course there have been mutterings about pensioners having ( but not all of course ) it easy compared to the younger generation.
But this was really May shooting herself in the foot. The worst of all possible outcomes.
We live in interesting times !
The £ is going nowhere for now.
anyroads
Of course there have been mutterings about pensioners having ( but not all of course ) it easy compared to the younger generation.
But this was really May shooting herself in the foot. The worst of all possible outcomes.
We live in interesting times !
The £ is going nowhere for now.
anyroads
Re: Effect of the UK General Election on the exchange rate.
It's going down against the € !anyroads wrote:
The £ is going nowhere for now.
anyroads
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Re: Effect of the UK General Election on the exchange rate.
May drop a cent or two before the dust settles.
The EURO is in no great shape either.
In my humble opinion it is way overvalued against the £.
1.25 would be a fair exchange rate.
anyroads
The EURO is in no great shape either.
In my humble opinion it is way overvalued against the £.
1.25 would be a fair exchange rate.
anyroads
Re: Effect of the UK General Election on the exchange rate.
As if anyone's humble opinion counts. As Maggie told us, you can't buck the market!
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Re: Effect of the UK General Election on the exchange rate.
Of course you can't.
But unless Germany comes up with a magic money tree, the EU is still on borrowed time, and of course, BREXIT will create just as much problems in the EU as it will in the UK...
I don't need to buy EUROS at the present time. I will bide my time in the full confidence that when I do need some, I will be getting a much better rate than at present.
anyroads
But unless Germany comes up with a magic money tree, the EU is still on borrowed time, and of course, BREXIT will create just as much problems in the EU as it will in the UK...
I don't need to buy EUROS at the present time. I will bide my time in the full confidence that when I do need some, I will be getting a much better rate than at present.
anyroads
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Re: Effect of the UK General Election on the exchange rate.
I hope you weren't thinking of coming anytime soon
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Re: Effect of the UK General Election on the exchange rate.
Well,
Let's see what late September brings ( but in truth I don't need to buy for several years ).
But like to pick up holiday spending money now and again.
anyroads
Let's see what late September brings ( but in truth I don't need to buy for several years ).
But like to pick up holiday spending money now and again.
anyroads
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Re: Effect of the UK General Election on the exchange rate.
The cause of the weekness is uncertainty and i'm pretty sure that even if some decisions will have been made by September, there will still be a period of massive change especially if the UK leaves the single market because it will take some time to disengage and negotiate new treaties.
As it is we are seeing the negative effects of Brexit appearing almost a year after the referendum, such as Inflation growing higher than wage growth but nothing has changed apart from the markets. There hasn't been a single decision made yet.
As I see it, the pound will constantly move from the point it was before the election where every knock will see it dropping a couple of points before recovering back to the same point again when things settle. We won't see a recovery to pre referendum level for at least 2-3 years
As it is we are seeing the negative effects of Brexit appearing almost a year after the referendum, such as Inflation growing higher than wage growth but nothing has changed apart from the markets. There hasn't been a single decision made yet.
As I see it, the pound will constantly move from the point it was before the election where every knock will see it dropping a couple of points before recovering back to the same point again when things settle. We won't see a recovery to pre referendum level for at least 2-3 years
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