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so if it when down, compared to the dollar, that means the pound is stronger, right? wouldnt the ultimate be $1 dollar to 1 pound. now were talking british side not american, so by gettingrid of the leeches, they did better. so what the big deal?
The pound is weaker, lower. That means the Brits suddenly need more pounds to buy the same thing from or in another country. When I was in England in the early '70's, it took about 2.5 USD to exchange for one pound. So my trip there was relatively expensive. Today it would be cheap for me.
Some amount of leeches don't necessarily weaken a currency. They might create more demand, and that tends to put more value on that money. But ALL can't be leeches, as there would be no national productivity.
The poun goes up and down. In late 80s, it was about 1.5 ish, I thought it was cheap and did do a lot of shopping in London. In the early 90s, it was high, near 2, about 1.80 ish or something like that.
It wasn't long ago that is was at $2 to 1 Pound. Now it is down to $1.37. Time for a British vacation? Will the Pound keep dropping? May we even see parity!?
Although the pound is at a 30 year low, 30 years it dipped much lower (almost to parity)
$1.1285 Fri, February 1, 1985
$1.1185 Mon, February 4, 1985
$1.1132 Tue, February 5, 1985
$1.1123 Wed, February 6, 1985
$1.1132 Thu, February 7, 1985
$1.1182 Fri, February 8, 1985
$1.1062 Mon, February 11, 1985
$1.0968 Tue, February 12, 1985
$1.0945 Wed, February 13, 1985
$1.0922 Thu, February 14, 1985
$1.1050 Fri, February 15, 1985
$1.1402 Mon, February 18, 1985
$1.0928 Tue, February 19, 1985
$1.0918 Wed, February 20, 1985
$1.0888 Thu, February 21, 1985
$1.0815 Fri, February 22, 1985
$1.0680 Mon, February 25, 1985
$1.0525 Tue, February 26, 1985 <------------ All time historical low, close to parity
$1.0820 Wed, February 27, 1985
$1.0938 Thu, February 28, 1985
$1.0768 Fri, March 1, 1985
...
$1.2365 Mon, April 1, 1985
...
$1.2295 Wed, May 1, 1985
...
$1.2945 Mon, June 3, 1985
...
$1.3168 Mon, July 1, 1985
...
$1.3498 Fri, September 20, 1985 <~ Post Brexit referendum
$1.4300 Mon, September 23, 1985
...
$1.4430 end of 1985
The Plaza Accord was an agreement between the governments of France, West Germany, Japan, the United States, and the United Kingdom, to depreciate the U.S. dollar in relation to the Japanese yen and German Deutsche Mark by intervening in currency markets. The five governments signed the accord on Sunday September 22, 1985
So no, I don't think this drop will push the pound anywhere near to parity with the USD. The conditions are radically different than in 1985
i dont see why the bitishpound when down, they removed all the leeches off of it, it should of went up. They got less debt now. somebody, a person had to make the decision to drive the value down, especially overnight, somebody that wants pay back, to hurt the economy of purpose. The pound should be going throught the roof right now.
It will go back up. Once the people who are crying "The Sky is Falling" go back under their rocks, the Britts will bounce back, and have their Country back, with secured Borders. The EU is no more than a building block for a New World Order, where the people control nothing, and individual Countries have to yield to basically a Dictatorship. I hope many other Countries pull out, when they see that the shy did not fall, the Britts are better off, and are recovering quickly.
I dont see why the Bitish pound when down, they removed all the leeches off of it, it should of went up. They've got less debt now. somebody, a person had to make the decision to drive the value down, especially overnight, somebody that wants pay back, to hurt the economy of purpose. The pound should be going thought the roof right now.
Exactly. The market is manipulated to punish the UK.
It wasn't long ago that is was at $2 to 1 Pound. Now it is down to $1.37. Time for a British vacation? Will the Pound keep dropping? May we even see parity!?
The Pound is down 11% compared to yesterday.
That was a long time ago, probably around 10 years ago. I know this because the currency rate was £1:$2.10 when on my first visit to the US.
I have visited 3 times since then and the currency has not been much above $1.50.
The pound is weaker, lower. That means the Brits suddenly need more pounds to buy the same thing from or in another country. When I was in England in the early '70's, it took about 2.5 USD to exchange for one pound. So my trip there was relatively expensive. Today it would be cheap for me.
Some amount of leeches don't necessarily weaken a currency. They might create more demand, and that tends to put more value on that money. But ALL can't be leeches, as there would be no national productivity.
Not particularly, I went when the currency was $2 and it was only slightly cheaper.
I went a week ago when the currency was $1.40 and I still managed to catch a few bargins.It isn't particularly expensive for us to visit.
===========================
The Plaza Accord was an agreement between the governments of France, West Germany, Japan, the United States, and the United Kingdom, to depreciate the U.S. dollar in relation to the Japanese yen and German Deutsche Mark by intervening in currency markets. The five governments signed the accord on Sunday September 22, 1985
...
$1.3498 Fri, September 20, 1985
$1.4300 Mon, September 23, 1985
...
$1.4430 end of 1985
===========================
The website xe.com list it at $1.34541 which is still below the post Plaza Accord rate of September 22, 1985. The Plaza Accord was an international agreement to moderate currency movements and stop a soaring dollar which had almost reached parity with the pound earlier in 1985.
The Plaza accord was such a significant milestone in currency wars, that having the Pound below that rate means a lot to global financiers.
It will go back up. Once the people who are crying "The Sky is Falling" go back under their rocks, the Britts will bounce back, and have their Country back, with secured Borders. The EU is no more than a building block for a New World Order, where the people control nothing, and individual Countries have to yield to basically a Dictatorship. I hope many other Countries pull out, when they see that the shy did not fall, the Britts are better off, and are recovering quickly.
Agreed, I think once investors get over this fear the pound might benefit from them leaving the EU. As long as GB doesn't make a complete mess of things I think in the long run the pound going up is a better bet then it going down.
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historical perspective
