Should £ stay or should it go?

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Jack.R.
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Re: Should £ stay or should it go?

Post by Jack.R. »

Image
Username Taken wrote: ↑Mon Sep 26, 2022 2:29 pm
truffledog wrote: ↑Sun Sep 25, 2022 4:31 pm GBP/USD over the last 5 years

Image

gone are the times where the GBP was a strong currency...and the dollar surely wasn't a strongy currency over the last 5 years. With the FED massively raising interest rates I fear that the pound will even get weaker.

But as always with such predictions. I could be completely wrong.
Let's look at some other options:

EURO / USD
Image


AUD / USD
Image


BTC /USD
Image

:popcorn:
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techietraveller84
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Re: Should £ stay or should it go?

Post by techietraveller84 »

Like where? To the Euro?! Wasn't that the point of Brexit? And from the look of it, the Euro isn't doing much better... What the West needs to stop doing is handing out money if they want their moneys to stabilize.
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John Bingham
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Re: Should £ stay or should it go?

Post by John Bingham »

Nobody hands out money. They lend it with interest.
Silence, exile, and cunning.
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AndyKK
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Re: Should £ stay or should it go?

Post by AndyKK »

Bluenose wrote: ↑Mon Sep 26, 2022 5:57 pm
AndyKK wrote: ↑Sat Sep 24, 2022 4:46 am I did what you are talking about, leaving some money in my UK bank. I have the usual, current and savings accounts. To transfer money from the bank to Cambodia I have to use the current account. And it was recently the bank put a monthly £3 charge on the account. I also had a ISA, but it's worth very little with interest rates being so low. Would be better if I had transferred the money to a microfinance here, but I do worry if something goes wrong, I can't afford to lose monies.
Also does anyone know what the situation is with tax returns?
If you have UK income you have until 31 October to submit a self-assessment tax return by hard copy https://www.gov.uk/tax-uk-income-live-abroad
I have no income from the UK, It's the tax I paid to the tax office for receiving
my private pension 15 years ago you had to pay 25% of the pension in tax. But I was told that if you have received no income from the country then you could claim back the money from the tax office.
Always "hope" but never "expect".
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Username Taken
Raven
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Re: Should £ stay or should it go?

Post by Username Taken »

Jack.R. wrote: ↑Mon Sep 26, 2022 11:31 pm Image
Username Taken wrote: ↑Mon Sep 26, 2022 2:29 pm
truffledog wrote: ↑Sun Sep 25, 2022 4:31 pm GBP/USD over the last 5 years

Image

gone are the times where the GBP was a strong currency...and the dollar surely wasn't a strongy currency over the last 5 years. With the FED massively raising interest rates I fear that the pound will even get weaker.

But as always with such predictions. I could be completely wrong.
Let's look at some other options:

EURO / USD
Image


AUD / USD
Image


BTC /USD
Image

:popcorn:
Nice try Jack, but if you're going to compare with the 5Y charts that I posted then you need to post a 5Y chart, not the Max chart as you have done!

So, try this one (5 Years only):

Swiss Franc / USD
Image
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Lonestar
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Re: Should £ stay or should it go?

Post by Lonestar »

I would convert some into dollars and put it into a fixed rate deposit in Cambodia at around 6% per year. That way, you are getting a return and it can also serve as an emergency fund.
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Kammekor
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Re: Should £ stay or should it go?

Post by Kammekor »

techietraveller84 wrote: ↑Tue Sep 27, 2022 12:02 am Like where? To the Euro?! Wasn't that the point of Brexit? And from the look of it, the Euro isn't doing much better... What the West needs to stop doing is handing out money if they want their moneys to stabilize.
Hasn't the US handed out most money? Still the USD is very expensive. Explaining these movements is incredibly difficult and there's not just one parameter setting the price.
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Kammekor
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Re: Should £ stay or should it go?

Post by Kammekor »

Lonestar wrote: ↑Tue Sep 27, 2022 5:20 am I would convert some into dollars and put it into a fixed rate deposit in Cambodia at around 6% per year. That way, you are getting a return and it can also serve as an emergency fund.
If shit really starts that deposit in Cambodia might default before a deposit in the West.
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Kammekor
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Re: Should £ stay or should it go?

Post by Kammekor »

Username Taken wrote: ↑Tue Sep 27, 2022 4:24 am

Swiss Franc / USD
Image
Still a remarkably small bandwith of about 14%. It's a relatively stable currency.
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Jerry Atrick
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Re: Should £ stay or should it go?

Post by Jerry Atrick »

Panic led to lockdowns. Lockdowns led to fiscal stimulus. Stimulus led to inflation. Inflation led to monetary tightening. Tightening leads to recession.


YAAY
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