Why has the Pound gone down?

Post Reply
User avatar
Tom
Posts: 3415
Joined: Fri Mar 02, 2018 2:30 pm
Location: 58 La Nièvre
Has thanked: 491 times
Been thanked: 926 times

Why has the Pound gone down?

Post by Tom »

:? Apart from the BoE reducing the base rate from 0.75% to 0.25% is there any other reason why the Pound has sunk from €1.20 four weeks ago to €1.11 today? Surely the base rate reduction has been expected for quite a while.

:shock: Hope nobody has any Bitcoins... They have devalued by over 50% in the last four weeks.
“He who laughs last didn’t get the joke.”
– Charles de Gaulle

Hal
Posts: 1462
Joined: Fri Mar 02, 2018 11:38 am
Has thanked: 97 times
Been thanked: 384 times

Re: Why has the Pound gone down?

Post by Hal »

All to do with slow down in trade and not wanting to invest in a foreign currency.
Blame macro computing and everyone (it seems) going overboard on a virus.
If you have any spare Euros and have time on your hands, buy som GBP. But might have to be quick, they are doing it already in the stock markets.

wilbro
Posts: 598
Joined: Thu Mar 08, 2018 10:32 am
Has thanked: 29 times
Been thanked: 207 times

Re: Why has the Pound gone down?

Post by wilbro »

I would also think that the crazy "Viv Nicholson" * budget has something to do with it.

* If you don't know who she is google it.

Spardo

Re: Why has the Pound gone down?

Post by Spardo »

wilbro wrote:
Sat Mar 14, 2020 11:10 am
I would also think that the crazy "Viv Nicholson" * budget has something to do with it.

* If you don't know who she is google it.
Spend, spend, spend. :lol:

Didn't end well though. :(

User avatar
Aardvark
Posts: 5433
Joined: Fri Mar 02, 2018 4:08 pm
Location: 22
Has thanked: 4399 times
Been thanked: 1485 times

Re: Why has the Pound gone down?

Post by Aardvark »

Am I a bit thick in thinking this wouldn't be an issue if the UK had joined the Euro years ago?

User avatar
jsks
Posts: 7784
Joined: Thu Mar 01, 2018 7:15 pm
Location: Lincs & N Yorks
Has thanked: 990 times
Been thanked: 3485 times

Re: Why has the Pound gone down?

Post by jsks »

Aardvark wrote:
Sat Mar 14, 2020 4:32 pm
Am I a bit thick in thinking this wouldn't be an issue if the UK had joined the Euro years ago?
No.

Ally

Re: Why has the Pound gone down?

Post by Ally »

And the Euro would be a far stronger currency than it now is.

Post Reply