The virus and its effects on currency?? (1 Viewer)

[Parrot Face]

I struggle to understand finance etc so can someone explain this to me. The pound has now dropped to about 1.09 against the euro after hitting about !.20 a few weeks ago. To me that suggests that it has affected us in the uk more. If it were possible euro currency countries like Italy and Spain could in effect come to this country and get more for their money than they could before the outbreak but they are worse affected than us. Explain.

 

[The Wino]

The markets obviously think it will effect our economy more than theirs. Whether that's the way our economy is structured or the actions being taken I don't know

 

[Mr David]

It's a reflection on what the markets think about the way the British government is mishandling this crisis.

 

[The Wino]

It's a reflection on what the markets think about the way the British government is mishandling this crisis.

I don't agree with the action being sufficient but wonder if this reflects more the difficulty we might face as net importers of a lot of essential stuff

 

[gus-lopez]

I struggle to understand finance etc so can someone explain this to me. The pound has now dropped to about 1.09 against the euro after hitting about !.20 a few weeks ago. To me that suggests that it has affected us in the uk more. If it were possible euro currency countries like Italy and Spain could in effect come to this country and get more for their money than they could before the outbreak but they are worse affected than us. Explain.

No yoou have it the wrong way around. If the markets thougt the UK was worse affected we would be getting 2€=£1
The market s think europe is worse.

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[Parrot Face]

No yoou have it the wrong way around. If the markets thougt the UK was worse affected we would be getting 2€=£1
The market s think europe is worse.

Still not sure about your logic as the uk becomes popular with the eu tourist when our rate drops.

 

[Allanm]

Still not sure about your logic as the uk becomes popular with the eu tourist when our rate drops.

Except the EU tourist will be staying at home ......

 

[Langtoftlad]

There is no logic.
For currency traders to make money the exchange rates have to move... up or down makes no difference.
So they use their weight to make it so.
The links to political and/or commercial environments are only made to avoid investigation & regulation.

No, not being cynical.

 

[Silver-Fox]

There is no logic.
For currency traders to make money the exchange rates have to move... up or down makes no difference.
So they use their weight to make it so.
The links to political and/or commercial environments are only made to avoid investigation & regulation.

No, not being cynical.

?

As you say it’s traders that make it happen.

Didnt that American make millions by driving GBP down once.

His name escapes me ?

 

[Langtoftlad]

His name escapes me

Are you thinking of George Soros?

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[Coastal Cruiser.]

Are you thinking of George Soros?

Nope, think it was Michael Douglas??
Greed is good

 

[gus-lopez]

?

As you say it’s traders that make it happen.

Didnt that American make millions by driving GBP down once.

His name escapes me ?

Are you thinking of George Soros?

Wasn't it warrenBuffett ?

 

[bobandjanie]

I'm watching carefully regarding the old £20 notes, because we might be able to get to the UK, ? and I have a suitcase full. ? Bob.

 

[denisejoe]

?

As you say it’s traders that make it happen.

Didnt that American make millions by driving GBP down once.

His name escapes me ?

Didn’t we have a Carney head of the Bank of England did the same thing every time he opened his mouth the pound fell

 

[Rudski01]

Do we think shares can drop much more? I certainly know not a lot about them but when Boris announced the financial help for business I thought they may start heading up again, is it time to buy, buy, buy

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[Silver-Fox]

Wasn't it warrenBuffett ?

That’s the geezer.

When you’re loaded you can make ordinary people very unhappy.