What is driving the GBP up right now?

[rollover]

Is it only short-term blip or long term drive - force?

For How long can the momentum last?

 

[Sprite]

Its mostly to do with the way the vaccine rollout has went imo. Its been a lot better than other countries which have been very slow.

Also Sterling has been weak due to brexit for a long time so a natural uplift post brexit should be expected.

[shlomo]

Or other countries have more problems than we have, we only notice our problems other countries may have much more problems

[papag]

Think  financers along with ordinary people are now realising just how much the EU was holding us back.

[spyguy]

Not as shit as the media and chatterign classes say.

Vacchien roll out.

Brexit deal means companies  are looking to invest.

 

 

[Mikhail Liebenstein]

30 minutes ago, shlomo said:

Or other countries have more problems than we have, we only notice our problems other countries may have much more problems

I think is more of a correction on the Dollar than anything else. Of course other currencies then move relative to both. The true recent long term average has always been circa 1.45, but it has swung out of band both ways, hitting over $2 before the financial crisis in late naughties when London banks could do no wrong, and slumping to 1.22 over Brexit. 

Biden will give lots of money to the "wrong sort of people" in American society and the banksters don't like it.

I also think there is a bit of cyclicality. An economy like the US or UK can look good from a financially engineered stand point for a long time. But normally there is then a debt reckoning. May be it is now the UK turn to do a Trump and spend spend spend.

Edited February 24, 2021 by Mikhail Liebenstein

[spyguy]

1 hour ago, Mikhail Liebenstein said:

I think is more of a correction on the Dollar than anything else. Of course other currencies then move relative to both. The true recent long term average has always been circa 1.45, but it has swung out of band both ways, hitting over $2 before the financial crisis in late naughties when London banks could do no wrong, and slumping to 1.22 over Brexit. 

Biden will give lots of money to the "wrong sort of people" in American society and the banksters don't like it.

I also think there is a bit of cyclicality. An economy like the US or UK can look good from a financially engineered stand point for a long time. But normally there is then a debt reckoning. May be it is now the UK turn to do a Trump and spend spend spend.

Traditionally, since Bill, Dems have given lots of money to bankers. And the people have not liked it, hence Trump.

[dugsbody]

2 hours ago, papag said:

Think  financers along with ordinary people are now realising just how much the EU was holding us back.

It can't be that because when GBP dropped precipitously immediately after the brexit vote, brexiters told us it had nothing to do with the vote and it was only because GBP was overvalued anyway.

[rollover]

3 hours ago, spyguy said:

Not as shit as the media and chatterign classes say.

Vacchien roll out.

Brexit deal means companies  are looking to invest.

 

 

GBP gained strong upside momentum on optimism about economic recovery in the UK.

Is it sustainable, and how long is it going to last?

[doomed]

[TheCountOfNowhere]

4 hours ago, rollover said:

Is it only short-term blip or long term drive - force?

For How long can the momentum last?

 

The £ isn't going up...everything else is going down quicker.

[PeanutButter]

It’s because Matt Hancock watched Contagion. I can’t believe it either.

[reddog]

I think it is more that the dollar is going down.  I guess the medium trend is £1:$1.60, not sure if we will get to that level.  But now that Brexit is happening, things might at least get s bit more stable.

 

 

Having said all that o am not sure the UK is actually doing better than other places (apart from on the vaccine roll out).  Surely the UK had a more dramatic GDP decline than other places.

[TheCountOfNowhere]

1 minute ago, reddog said:

I think it is more that the dollar is going down.  I guess the medium trend is £1:$1.60, not sure if we will get to that level.  But now that Brexit is happening, things might at least get s bit more stable.

 

 

Having said all that o am not sure the UK is actually doing better than other places (apart from on the vaccine roll out).  Surely the UK had a more dramatic GDP decline than other places.

I vaguely remember the £ being 2 dollars around 2005 ish

[NoHPCinTheUK]

17 minutes ago, TheCountOfNowhere said:

I vaguely remember the £ being 2 dollars around 2005 ish

oil

[debtlessmanc]

2 hours ago, PeanutButter said:

It’s because Matt Hancock watched Contagion. I can’t believe it either.

Its a funny old world...

[TheCountOfNowhere]

9 minutes ago, NoHPCinTheUK said:

oil

Dont be so crude.

[GregBowman]

8 hours ago, spyguy said:

Not as shit as the media and chatterign classes say.

Vacchien roll out.

Brexit deal means companies  are looking to invest.

 

 

Massive pent up demand 

Job vacancies up

Technology booming. The media outlets always play up the silicon valley bull. Our support services side the digital plumbers from the local guy who does your website to the listed outsourcers is massive. The market in London is bigger than the German and French market put together and Brexit proof not really in or out of any trade deal, creative services even bigger and same structure 

 

[GregBowman]

5 hours ago, rollover said:

GBP gained strong upside momentum on optimism about economic recovery in the UK.

Is it sustainable, and how long is it going to last?

eighteen months minimum without another lockdown £250 billion in saved money looking for a home that's the consumer side sorted 

[PeanutButter]

35 minutes ago, debtlessmanc said:

Its a funny old world...

That it is.

[Huggy]

7 hours ago, dugsbody said:

It can't be that because when GBP dropped precipitously immediately after the brexit vote, brexiters told us it had nothing to do with the vote and it was only because GBP was overvalued anyway.

Not entirely sure any Brexiteer did actually say that. GBP dropped 8% when the result of one particular area came out (IIRC) and was abviously because the people trading the currency didn't like the idea of Brexit, which had become more likely after that particular result.

They were affected by Project Fear which is understandable as there was a lot, and that's now gone and we're moving into Project Freedom, they're a bit happier with it which is nice.

Edited February 24, 2021 by Huggy

[longgone]

38 minutes ago, GregBowman said:

Massive pent up demand 

Job vacancies up

Technology booming. The media outlets always play up the silicon valley bull. Our support services side the digital plumbers from the local guy who does your website to the listed outsourcers is massive. The market in London is bigger than the German and French market put together and Brexit proof not really in or out of any trade deal, creative services even bigger and same structure 

 

Still fifteen to one though, not the game show the multiples of salary required for a average London home.

[GregBowman]

2 hours ago, longgone said:

Still fifteen to one though, not the game show the multiples of salary required for a average London home.

Totally was talking in more broad economic terms. Just read my post ! I meant home as in spend not home ! ie new motor sickle, cruise or kitchen !

Edited February 24, 2021 by GregBowman

[Mikhail Liebenstein]

6 hours ago, TheCountOfNowhere said:

I vaguely remember the £ being 2 dollars around 2005 ish

I was in the US and Japan quite a few times then. Felt like a spoilt little rich boy.

[steve99]

On 24/02/2021 at 00:19, papag said:

Think  financers along with ordinary people are now realising just how much the EU was holding us back.

Even though the £ was over Euro 1.40 for a long time some years ago and well over US$2.00 for a long time also. In fact that period in the early 2000's the £ was probably the best it had been for decades, a) under a Labour govt and b)  in the EU