[Finance] Is the UK facing a Sterling crisis?

[Leekbrookgull]

Listening to business reports not just UK related but across Europe and inflation/energy crisis it's predicted that the UK will have a much longer recession than originally warned. Looking at the market's Sterling is around £1.17 to the Dollar, with America pretty well insulated from escalating energy prices and there are NSC members here who are city based is Sterling about to seriously hit ?

 

[Icy Gull]

Listening to business reports not just UK related but across Europe and inflation/energy crisis it's predicted that the UK will have a much longer recession than originally warned. Looking at the market's Sterling is around £1.17 to the Dollar, with America pretty well insulated from escalating energy prices and there are NSC members here who are city based is Sterling about to seriously hit ?

It has already had a big hit against the US Dollar - exchange rate was 1.34 at the end of Feb. Staying steady against the Euro but fallen from 1.19 to 1.17 recently

 

[Insel affe]

Yep long term doom & gloom, and the media will let us know about it for the next three years, no stop dirge.

 

[Blue Valkyrie]

Yep long term doom & gloom, and the media will let us know about it for the next three years, no stop dirge.

If the media don't let us know about it, then no one will be motivated to fix it !

 

[DavidinSouthampton]

That nice Truss woman will sort it out

Or, as I fear, make it worse

 

[GingerBeerMan]

It struck me how Liz Truss whipped out "PROJECT FEAR" within five minutes in her debate with Sunak. Does she seriously think Brexit has been a success? The country is on its ****ing knees and things look like they're only going to get worse. Are people so deluded to think the UK is in a strong position as a country right now?

 

[The Clamp]

It struck me how Liz Truss whipped out "PROJECT FEAR" within five minutes in her debate with Sunak. Does she seriously think Brexit has been a success? The country is on its ****ing knees and things look like they're only going to get worse. Are people so deluded to think the UK is in a strong position as a country right now?

Liz Truss is a mental.

 

[Beach Hut]

I thought he played quite well for Chelsea on Saturday

 

[JetsetJimbo]

Not totally on-topic, but I send a bit of money to my brother in London every month to help him get by, and it's notable that even though the Czech crown is weak at the moment, the amount of pounds my brother is getting for the same amount of crowns I send each month keeps going up and up.

As an aside, and as an anecdotal insight into the longer-term picture, I think it's quite remarkable that I have to send remittances to the UK for struggling family members; my Mum used to do the reverse after she moved from Prague to London in 1968 (in her case, she used to send money from London to her sister in Prague each month; I send money from Prague to my brother in London each month).

 

[Scappa]

It struck me how Liz Truss whipped out "PROJECT FEAR" within five minutes in her debate with Sunak. Does she seriously think Brexit has been a success? The country is on its ****ing knees and things look like they're only going to get worse. Are people so deluded to think the UK is in a strong position as a country right now?

NSFW

 

[beorhthelm]

facing? its been in a bad way for couple of years since brexit vote, range bound below the previous decade's range. more recently its about $ strength, as more and more investors shun other currencies and hold $ to weather the incoming recession. not necessarily hitting the city as profits go up from overseas and deals are still done. it is bad for inflation, making all out imports from oil to paper to TVs more expensive.

 

[Paulie Gualtieri]

I though the two he scored at the weekend would change peoples minds


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[Boroseagull]

For the first time ever the euro fell to below parity with the dollar, overnight it has recovered to stand at one to one. Dollar is extremely strong at the moment thus affecting all exchange rates.

 

[SeagullsoverLondon]

For the first time ever the euro fell to below parity with the dollar, overnight it has recovered to stand at one to one. Dollar is extremely strong at the moment thus affecting all exchange rates.

And unfortunately the price of oil and gas which is traded in dollars

 

[Justice]

Blimey it’s early days I’m sure Sterling will improve in time for the World Cup.

 

[B-right-on]

It's all about the dollar strength and it's use as a 'flight to safety'. Big money is getting out of a lot of currency around the world in anticipation of a huge world wide recession. The USD is seen as a store of value so it's bought, thus increasing it's strength. Causing others to go down, which in turn causes more money to go to the USD.

It's got nothing to do with how good or bad the US is doing. It's all about its currency being the best of a whole pile of crap. More Dollars are held outside of the USA than inside. Shows that it's nothing to do with the USA as such.