Pound heads sharply lower on Brexit concerns

[itsybitsy]

The pound has fallen sharply after a series of political heavyweights threw their weight behind a UK exit from the European Union.

Sterling dropped by three cents to a near seven-year low against the US dollar at just above $1.40. It has not seen such lows since March 2009.

The fall of more than 2% left the pound heading for its steepest one-day decline versus the US currency since early 2009 at the height of the recession.

http://news.sky.com/story/1646224/pound ... t-concerns

[preparedsurrey]

Should be good for tourism and exports

[jansman]

Precious metals have edged up. Always a sign that investors are worried. The world needs stability.

[grenfell]

It'd be nice to know if investors are concerned that we may leave or that we may stay and what effect that may have rather than just being worried about the uncertainty.

[HBP]

I just need it to dip a bit lower as I have some money to move to the UK and the exchange rate isn't quite as good as it used to be.

Then it can head up as much as it likes

[Arwen Thebard]

Rejuvenating an older thread, but very applicable given the current political and economic situation.

Virtually all markets across the globe in the red again today and sterling heading South. Will it rally?

Good for Cryptos and precious metals, but everything else...... YUK

This isn't going to end well.

[jansman]

Yer pension fund will tank this year... mine lost money last. Gonna keep buying precious metals. If you can touch it, it’s yours.

There is a message there, when the money market dips because of the threat of no deal.

[peejay]

Good for Cryptos and precious metals, but everything else...... YUK

Cryptos aren't doing much either. I'm still hanging onto what I bought late 2018 (at the peak as it happened!) absolutely no point trying to sell what's left of it so no choice but to hang in for long-term.

(Down by 83% on my initial investment!)

[pseudonym]

Yer pension fund will tank this year... mine lost money last. Gonna keep buying precious metals. If you can touch it, it’s yours.

There is a message there, when the money market dips because of the threat of no deal.

Just received my Mortgage endowment payout in time to spend it before it's nothing

Coke, booze and hookers and waste the rest on Back paying all the NI Voluntary contributions I can, and boosting my Premium Bonds.

[Arzosah]

It looks like I'm getting my financial boxes ticked just in time I got the delivery from Silver Trader the other day. More to come, but spreading the risk by buying regularly.

And the pound really has tanked. I've watched the sterling/euro exchange rate for 20 years, because of this dratted French apartment I bought, and the rate is the worst I've seen it.

ETA - ouch, peejay! Sorry to hear about the 83%.

EETA - you norty person, pseudonym I hope that booze is the best champagne