Re: Brexit and the pound

Really?

Ours costs $1 (or 60c for pensioners) to send a letter anywhere in Australia (ie 50p or 30p).

Re: Brexit and the pound

Yes Bruce. As I wrote earlier. I did my shop the day after decimalisation and a packet of 2 toilet rolls had been changed from 1/3d to 13 pence. The value of 1d (one penny) had been increased by two and half percent overnight, making the cost in the shopping almost two and half times that of the day before. Not everything had increased that much but, I suppose, 1/3 to 13 was near enough they thought we customers were to stupid to notice. We weren't but there was nothing we could do.

Re: Brexit and the pound

It also meant that every subsquent increase in price was by a larger increment.

Re: Brexit and the pound

Decimalisation (as with metrication) in Britain is case study of how not to do things. Instead of changing the pence to new pence they should have changed the Pound to a New Pound and equivalent to the old 10/-. Then the pence would still be roughly equivalent to the old penny (ie 10 to the shilling or 10p instead of 12). Traders would not then had the ability to price gouge but that wouldn't be the British way would it?

You don't have to tell me about it, I was there, working in London at the PO Tower for Post Office Telephones Radio Branch.

Re: Brexit and the pound

According to an expert on tv today, the mini crash could have been caused by what they call the fat finger theory, where someone accidently hits the wrong key on a computer and sets off a chain reaction or it could be down to automatic trading, controlled by computer algorithms.

Re: Brexit and the pound

More likely "fat cat" syndrome.

Re: Brexit and the pound

Well of all my many worries after the disastrous Brexit vote the state of the £ is the greatest. Last night the £/€ was 1.11 and can parity be far away? If you look at the top of the last year's market that is an over 20% devaluation and if you add the threat of 10% duties then that is something like a 30% devaluation in what you can buy in Europe which of course includes most of our, and my, cars! Our whole wealth will have been devalued by a significant amount!

Is being 30% poorer really what those who voted for Leave really had in mind? No they just were misinformed into believing that they would see fewer Poles and that unrelated there would be fewer South Asians and some fell for that.

Apart from that we will have lost a lot including the European Citizenship and the ability to walk anywhere and feel we were part of things.

The only good thing I would hope for is some less onerous waste recycling requirements!

If you ask a daft, over simplified, question about a complicated issue you will get a daft answer!

It looks like the EU is not going to give us an easy ride over all this!

Re: Brexit and the pound

Yes that is a concern. The strong FTSE100 has been one of the few comforts in all this but obviously it has first to be corrected for currency movements. I tend to look at the FTSE 250 more often for a wider spread and less volatility and I tend to put my own stuff in Income orientated Blue Chip funds via advisors.

Re: Brexit and the pound

Hi

Parity with the Euro is expected next year, yesterday the £ did not even buy a Euro at some airports.

It is even worse against some non Euro Currencies, the Zloty in particular.

Re: Brexit and the pound

Two different subjects.


In 1967 the £ was devalued against the $ from 280p to 240p.

In Feb 1971 the £ was decimalised. from old Pence to New pence