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Wsj Bad News:pound Heading For An Ugly Decline

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WTF?

I read tens of articles and predictions over the last month predicting a strong pound - $1.90 to £1 has been the meme of the month whilst the dollar was weakening.

And now a ton of these articles predicting death of the pound.

Here's my analysis: These commentators and analysts don't know their **** from their elbow.

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I'm not worried about fuel or food. This country is full of fat, wasteful people who could do with walking more and eating less and our food and fuel is still cheaper than many other poorer countries I have visited.

My only concern is that I would like to move to New Zealand or Canada when I have finished my training as a hospital doctor and my savings have already been devalued 30 - 40%. I am hedged to a certain extent with my investments but if I were to move I wouldn't want to transfer any of my wealth into another currency unless a fair value vould be obtained and that could be 10 or 20 years away now or it could just be a short time.

I do agree that commentators don't know their **** from their elbow though. For any given financial topic you will find two of the most respected opinions on the planet at polar opposites and often extremes of opinion. Basically, nobody knows.

FTSE seems like a good bet for those worried about the value of the pound.

Edited by nohpc

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so we substitute expensive houses for expensive food and fuel.sounds like a plan.

I wouldn't laugh about these things.

A few years from now, Krusty could be on the box 3 nights a week explaining how you can buy a can of petrol, add 3 drops of jasmine essence, and then sell it on for a 30% profit :(

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I'm not worried about fuel or food. This country is full of fat, wasteful people who could do with walking more and eating less and our food and fuel is still cheaper than many other poorer countries I have visited.

My only concern is that I would like to move to New Zealand or Canada when I have finished my training as a hospital doctor and my savings have already been devalued 30 - 40%. I am hedged to a certain extent with my investments but if I were to move I wouldn't want to transfer any of my wealth into another currency unless a fair value vould be obtained and that could be 10 or 20 years away now or it could just be a short time.

I do agree that commentators don't know their **** from their elbow though. For any given financial topic you will find two of the most respected opinions on the planet at polar opposites and often extremes of opinion. Basically, nobody knows.

FTSE seems like a good bet for those worried about the value of the pound.

But what is fair value now. I migrated to aus about three years ago and delayed transfering my pension waiting for 'fair value'. Eventually I swallowed hard and transferred it at about 1.80, which does not look too bad now. I'm just not convinced that the present sterling decline is a cyclical event against the aussie and the currencies you mentioned. It could get even worse!!

Edited by hobdoll

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I wouldn't laugh about these things.

A few years from now, Krusty could be on the box 3 nights a week explaining how you can buy a can of petrol, add 3 drops of jasmine essence, and then sell it on for a 30% profit :(

:lol:

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But what is fair value now. I migrated to aus about three years ago and delayed transfering my pension waiting for 'fair value'. Eventually I swallowed hard and transferred it at about 1.80, which does not look too bad now. I'm just not convinced that the present sterling decline is a cyclical event against the aussie and the currencies you mentioned. It could get even worse!!

the plus point is that any earnings in oz/nz are now 30% higher in sterling terms so I could send all my savings back home into british pounds.

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Judging by the rather large trade deficit we are always running I would say the pound is too high. When the we get a balance between exports and imports I will say the pound is 'just right'.

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Judging by the rather large trade deficit we are always running I would say the pound is too high. When the we get a balance between exports and imports I will say the pound is 'just right'.

but do you want to be paying 5 million quid to heat your water for a week

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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