Oi Mods I want credit for saving you time - The Pound is now an emerging market currency

Stat Brother said:

https://www.ft.com/content/4fd04fd9-7209-4b7c-97a1-97466f226159

The pound is now an emerging-market currency in all but name, according to analysts at Bank of America, who say that Brexit has turned it into a mirror of the “small and shrinking” UK economy.

In the four years since the UK voted to leave the EU, trading conditions in the pound and the big swings in exchange rates make it a better match with the Mexican peso than the US dollar, said Kamal Sharma, a currency analyst at BofA. He said that movements in the currency since the June 2016 Brexit vote have become “neurotic at best, unfathomable at worst”.

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nicko31 said:

Interesting...

Been importing products for B2B customers for 3 decades now

More and more customers are now buying in USD just fed up with sterling being so unstable.

Sterling's slide has been a disaster for the British consumer, ultimately it erodes living standards.

The export led boom Brexiteers promised has never materialised

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Weststander said:

The £ first collapsed against the € between 2007 and 2009, moving from 1.5 to virtually parity. Later recovering all too briefly with the southern Eurozone sovereign debts crisis, until those nations towed the line imposed by Germany for bailing them out.

Gutting for me as a frequent traveller to the continent, our holidays when the rate was 1.45 to 1.5 now a distant dream.

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nicko31 said:

Does seem like most of the first world is more expensive than the UK these days, have to watch the pennies on hols

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Weststander said:

Although not pro us joining the Euro, completely selfishly I’d have loved us to joined and in effect locked in at 1.7. The holidays I could’ve had.

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