Thread: Sterling

with news the pound is gaining, on the Euro.

Can we expect the pound in Thailand to make significant gains ?

Are you aware of the state of the UK economy??? Only way you are going to get a weaker Thai Baht compared to the pound is if Thailand starts devalueing the baht.

Yes i am aware of the state of UK economy, though then analysts say how sterling is a safe haven, pounds gained against dollar euro etc, and some small gains on the baht recently however small.

I am not predicting anything, the markets move in mysterious ways.

will the olympics have a impact on the pound, have previous olympics had a impact on the countries currencies.?

Originally Posted by buriramboy

Are you aware of the state of the UK economy??? Only way you are going to get a weaker Thai Baht compared to the pound is if Thailand starts devalueing the baht.

Originally Posted by Neo

The Pound and the Euro are locked into a currency war where both the UK and the EU attempt to get a lower value for their currency than the other to make exports more attractive.

the reason for the gain in the apprent value of the pound against the Euro is that the Eurozone is in some turmoil, particularly wrt Greece and the new Frenchman

nothing to do with currency wars

Originally Posted by Yasojack

I am not predicting anything, the markets move in mysterious ways.

correct!

sterling may have made some short term gains against the dollar, but both currencies are weak due to over-printing (Quantitative Easing!)

Surely the Euro must suffer from the Greece and France political uncertainty.

I doubt we'll see the 81 baht to the pound I was getting on my first trip here, & that's when Thailand was cheep for Thais...

Originally Posted by Bettyboo

I doubt we'll see the 81 baht to the pound I was getting on my first trip here, & that's when Thailand was cheep for Thais...

I doubt it as well, unless the floods retrun and keep coming

then a major tsunami, then storms and hurricanes

etc

or, more likely, a military takeover and they fuk up the economy as per usual

Originally Posted by DrAndy

nothing to do with currency wars

Really..?

Spain could well have a big effect also on the Euro.

I think speculators are also a tad worried about what happens if Greece tells Merkel to shove her euro up her arse.

Angela Merkel arrives in Greece to discuss the European debt crisis and is asked at passport control: "occupation?"

To which she replies, "no, just visiting".

heres a prediction

Pound Sterling Forecast

Originally Posted by Yasojack

Spain could well have a big effect also on the Euro.

yes, they are in the queue along with Portugal and Italy

maybe the Euro will get to 1.45 to the pound? or even parity with that US dollar

Originally Posted by Neo

Originally Posted by DrAndy

nothing to do with currency wars

Really..?

yes; if you don't think so please give us a few solid links


so yes, really

the UK is not an exporting country any more so there would be little point

all it would do would be to make imports more expensive

Wake up Andy. You know dick about international monetary exchange.

Yes there is a crisis in the Euro, but the fact that it's is in reality worthless and that the PIGS may default on their theoretical debt, has very little effect on the exchange rate between the £ and Euro, if their real worth were the true value of the exchange rate both currencies would have collapsed long ago.

The only real value left in the exchange rate mechanism is the chimera that a lower rate will improve exports which affords the opportunity to make money from money, or in reality electronic profit out of a fictional electronic value.

The disparity between either currency will never be that great, but the small shifts between the two values will always be enough to generate a good profit for the minority that control it.

The Thai Baht is a completely different game than the £ or Euro, and while the latter are forced to compete for a lower rate, the Baht will continue to be strong in relation.

Originally Posted by Neo

Wake up Andy. You know dick about international monetary exchange.

absolutely correct; I was only talking about the GBpound and the Euro, with a bit of dollar thrown in to keep you happy

Originally Posted by Neo

Yes there is a crisis in the Euro, but the fact that it's is in reality worthless and that the PIGS may default on their theoretical debt, has very little effect on the exchange rate between the £ and Euro, if their real worth were the true value of the exchange rate both currencies would have collapsed long ago.

Originally Posted by Neo

make a short term killing off the backs of armchair pundits

so, who made the short term killing, you or them? sit back and enjoy

well RBS seems to have made a killing in the last couple of years, there near to bankrupt, govt bails them out and loans them 100 billion, and now Royal bank scotland reports last week they have paid back the 100 billion and no longer need state handouts financial crisis what crisis, was it a self made crisis LOL

Tell you what i not know anything about the financial sector, but i smell a rat.

Originally Posted by DrAndy

Originally Posted by Bettyboo

I doubt we'll see the 81 baht to the pound I was getting on my first trip here, & that's when Thailand was cheep for Thais...

I doubt it as well, unless the floods retrun and keep coming

then a major tsunami, then storms and hurricanes

etc

or, more likely, a military takeover and they fuk up the economy as per usual

Since the last coup had little effect I shouldn't think the next will have much impact.

Currencies are a reflection of their economies but central fiscal intervention can mask their true worth. Britain's £ was unrealistically high against a basket of currencies in the early - mid noughties when the then uncontrolled banking scam was in full flow. The BoE's concern was inflation entering the system and it's main tool to reduce any impact was the fixing of the interest rates which compared to the Eurozone et al were quite high. This favoured sterling and flattered to deceive to the point it bought 2$uS and on average 72 bt. The banking collapse precipitated the lurch to zero rates and the £ found its true level reflecting the recession in the economy and public debt levels which could not be offset by the fall in revenues.

Thailand is not in this position - yet.

AFAIK Thai sovereign debt is quite low and its economy continues to expand but the explosion of credit as a means of funding the current building boom will inevitably contribute to inflation. Hitherto, public expenditure has been low in comparison to more developed societies but that trend is reversing steadily as the Thai finally address the social infrastructure needs. Debt will inevitably be incurred but if a balance is not maintained through growth, either because of economic shocks to the system or if the economy becomes uncompetitive, then eventually its currency will be devalued.

Whether or not a general or a faux democrat is running the show matters not although in economic terms the baht is more likely to remain strong for longer if the lumpen masses are kept firmly in their place and continue to be paid peanuts for their labour.

Originally Posted by DrAndy

coming from a person who can't even afford to live in a country of his choice

like yourself

Originally Posted by DrAndy

the rest is waffle, coming from a person who can't even afford to live in a country of his choice

Given it would be Singapore I rather think I share my disappointment with several others about the region.....

You are quite thick, aren't you?

seems that way

Originally Posted by Yasojack

with news the pound is gaining, on the Euro.

Can we expect the pound in Thailand to make significant gains ?

No since it is not the pound getting stronger it is the euro getting weaker and that doesn't change the GBP-THB exchange rate much.
You'll have to wait until the day the GBP gets stronger by itself..