What's going on with the UK pound?

[Stogie]

So what's going on with the pound... or the baht?

Most of us probably thought that the pound would have to eventually gain some ground back but it's gone 6 baht better in less than a month?

How is YOUR currency faring just now?

[kevin4252]

I'ts very simple, I'm going there for eight days, and from the time I made my reservations it's gone from 1.42 to the dollar to 1.63 as of today, guaranteed its around 2 bucks when i get off the plane

[pacman]

Sterling isn't so much strengthening as the Baht is making an overdue correction downwards in response to the difficulties the Thai economy has been experiencing.

Compound Thailands exports falling & their tourist arrivals dropping off & the outlook for a Baht recovery is unlikely any time soon.

This should have happened sooner but currency traders shy away from relatively small currencies in unstable countries. A sudden coup & all profits are wiped out overnight.

The Australian dollar was buying 20 baht or less only 6 months ago, today it is buying 27. I expect it to go past 30 baht/AUD this year.

Ex-pats living in LOS should consider holding funds in another currency. The 2 strongest currencies of the past 6 months have been the Canadian dollar & the Australian dollar. Both are subject to the whims of the commodity market.

The strongest overall currency of any country is the Norwegian Krone. Their economy is absolutely bulletproof but for those located in SE Asia, maybe the Chinese renimbi is worth looking at.

I can't advise on any of these, I just think they will all be safer than the US dollar or the British pound, both of which are on a hiding to nothing.

[PigDogg]

(pacman @ Jun. 03 2009,17:43) Chinese renimbi

Here's an American ETF if you want yuan exposure. But it's trading a slight premium to net asset value right now:


CYB

[pacman]

Actually the stand-out currencies this year have been the Brazilian Real & the South African Rand...

I suggest you buy them (or any currency for that matter) at your own risk.

It's easy being an armchair expert, it's another thing altogether to be telling someone what to do with their money.

[swaraj]

Lucky me, still using cash that was changed/deposited at 70 baht = 1 pound & 2$u.s = 1 pound

[Stogie]

 That must have been a massive deposit... unless you're the worlds biggest tightwad!  

Here's the latest...

[stickyfinger]

Hope your not complaining there Stogie!!!!!!

Did someone not so long ago say it wil stay around 50bt for this year??? hmmm

Good lets see it get back up to around 65 bt for around december when am due back to LOS.

More power in my pocket and baht for the sluts!!!!!!!


Cheers

Sticky

[Stogie]

Not complaining. My cash is in the UK and I live in Thailand. My net worth just raised 10% in a month... not including investments in Microsoft!

Like you say - more baht for the fun stuff!

[robbo]

the pound has gained some much needed ground over some others like the euro,,the pound and dollar have been suffering for some considerable time now.
i see the current trend as a combination of the baht overvalued for too long now and the pound undervalued,this could be the begining of a trend of correction,this can be a very good thing a good balance is overdue.
i am no expert by any means........are any of us? but i was predicting a trend to happen around now a few months back, time will tell,the next few months .
a little while back the pound was reaching a critical point,parity with the euro was low point if it were to fall further then it could become deep shit. its gaining ground now. as i said im no expert but from my view i think the balance which is good for all and more correct is around the 64baht to £1.i believe this will happen.
ive also looked further into the uk as a whole and my outlook is now more optimistic about growth and the deepth of the countries problems.i actually am begining to believe that the uk is equipped to move forward.
the uk is in desperate need of a change of government,my one concern is that labour will once again return to power at the next election,it is a very real possibility........just look at the last election if you dont believe this.
apart from that the uk is in deep shite in the medium to long term,Our prime minister sold half of our gold reserves,allowed banks access to billions of pounds of future taxpayers money, commited much of our national health service to PFI which will come back to haunt the taxpayer,commited us to an olympic games costing billions(which we dont have),on top of this over the last ten years increases and newly invented taxes have shot up at incredible rates outstripping peoples ability to keep up with them..........smells of British history here somewhere also Roman for that matter............read the books to find out what happened there.
the short term outlook could be ok,but long term i think we are fucked.

[huanzhen]

some reason can give explaination..the central bank of england has bought huge amount of Uk pound in may, second foreign investissor see better economic perspective in england than europe, that why pound reach against the euro....
but things can turn bad quickly don t forget the AAA of england debt in under heavy surveillance, many analyst predict Uk will need help of IMf before the end of the year....if something bad happened to uk economicly( liek the lost of the tripe A quality debt) the pound will fall at euro level, but hardly under.

thailand is under heavy speculation actualy like philippines

[Guest]

(robbo @ Jun. 04 2009,10:53) the uk is in desperate need of a change of government,my one concern is that labour will once again return to power at the next election,it is a very real possibility........just look at the last election if you dont believe this.

Absolutely no chance of that happening according to the various London & Dublin bookmakers

Current Prices to return the next UK Goverment.

These are the best prices available today !

Conservative 1/10

Labour 7/1

Liberal Democrats 125/1

[robbo]

dont disagree with you on this one about those odds pentire,thing is tho,rules and logic do not seem to apply anymore in england,this country,s governmental system and version of"democracy" is so skewed and fucked up,we the public have every right to call for parliment to be suspended and have an immediate general election,say let the people have 3 weeks to make up their mind and then vote.
what we have tho is a system where the government can bide its time and try to skew things around, fiddle the accounts lie more and get some dirt up on the others and then call election when it suits them and not the public,this is what happened last time.........anybody remember the promise tony blair made to the uk public about giving them a referendum on europe? those kind of promises and others can sway a lot of voters.......and do..........perhaps sway is not the right word...deceive is..........if i were a betting man i would not bet in england.........................as odd as thailand may be at times id rather place bets there.

[katoeylover]

Robbo,

you honestly believe the british people are THAT stupid.

1. Took a good economy/ balance of trade/ full exchequer and ruined it to the point of no return

2. Labour Ministers on the take like never seen before..

3. Immigration and the Ghurkhas

the list is endless.

They will be lucky to get more seats than Michael Foot got in '83

[Guest]

Surprisingly the pound took a hit today on talk Brown had resigned. Also, if there is meaningful change to the voting system - which I doubt - an assured outright victory either by Labour or the Tories will be a thing of the past which may cause currency volatility. One reason the pound has risen and some punters in the financial markets are talking the pound up is that any election win, which can be achieved with as little as 37% of the vote gives a party cartes banches.