Quote:
Originally Posted by Mick
The £ vs $ is higher than it's ever been since brexit. Currently $1.34 to the £1. This is on the news that interest rates may increase next month, after they were held today.
This time 10 years ago. When I went to US for a month, the exchange rate was $2 to the pound.  |
It's swings and roundabouts. If Sterling were to rise appreciably we'd all be getting dire warnings about the negative effects on UK PLC's exports. Currencies rise and fall for all sorts of reasons and when the next bit of really bad EU news hits home on the markets so the Euro will fall. Germany has been a major beneficiary of a lower than would be the case currency simply because the DM would a lot higher as a stand alone currency. Try telling Merkel that a lower currency is all bad news.
I'm still waiting for someone to tell me how much the rise in Sterling has actually cost JLP because it's easy for companies to report a large fall in profits and blame it all on Brexit without backing that up, especially if the leadership of those companies happens to have a pro-EU agenda.