Sterling worst performing major currency in the world for 2016

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Napp
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http://money.cnn.com/2016/07/08/inve...rrency-brexit/

The British pound has beaten Argentina's peso to a title nobody wants: the world's worst performing currency.
The pound has plunged 14% against the U.S. dollar since the U.K. voted to leave the European Union on June 23. It's down about 12% since the start of the year, and is trading at its lowest level since 1985.

Analysts expect it will drop further from current levels around $1.29. Societe Generale has a medium term target of $1.23. George Soros said before the Brexit vote that the pound could slump as low as $1.15.

The pound is falling because investors are worried the U.K. could slump into recession due to the huge economic and political uncertainty triggered by the vote. Surveys published since the referendum suggest consumer confidence has collapsed.

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The super cheap pound is great news for foreign tourists coming to visit the U.K., but it's already making things more expensive for Brits. Prices of vacations and gadgets are already going up.

he pound is doing worse so far this year than any other major currency. Argentina's peso is down 11.7% so far this year against the dollar.

Argentina has been in deep economic crisis for years. The second largest economy in South America managed growth of just 0.5% in the first quarter, compared with the same period a year ago. Annual inflation hit 40% in May.

The Mexican peso is down 7% so far this year, South Africa's rand has fallen 5.7% and China's yuan, which just had its weakest quarter on record against the dollar, is down 2.9%.
We'll be better off out of Europe they said. There wont be any major financial
repercussions they said.
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999tigger
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Tbf you are better off looking at 1,2,3, and 5 year performance. People are open to trade deals so you are being unduly gloomy. We might get some call centres from India if things proceed.
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qwertypoiop
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(Original post by Napp)
http://money.cnn.com/2016/07/08/inve...rrency-brexit/



We'll be better off out of Europe they said. There wont be any major financial
repercussions they said.
Just waiting for the "economy will improve shortly after all the immigrants are gone" comments.
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TaintedLight
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“People in this country have had enough of experts”
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Terry Tibbs
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"It will be worth it in the long run".
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Final Fantasy
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(Original post by TaintedLight)
“People in this country have had enough of experts”
Did someone seriously say this? So what now, let's hear from morons instead? :lolwut:
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Golden State
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According to Goldman Sachs, the pound could drop as low as $1.20 in the next three months.
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qwertypoiop
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(Original post by Final Fantasy)
Did someone seriously say this? So what now, let's hear from morons instead? :lolwut:
- Michael Gove.
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TaintedLight
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(Original post by Final Fantasy)
Did someone seriously say this? So what now, let's hear from morons instead? :lolwut:


:laugh:
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HanSoloLuck
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Still worth it, I'd rather live in poverty than have any more 'refugees' forced upon us. As the terror cells begin to precipitate out from the freeloaders and economic migrants that have been let in, we will begin to see serious attacks being made against non-believers. Among these 'refugees' are also large numbers of Africans, we haven't been able to successfully integrate the blacks that have been here for 2 generations, we simply cannot handle anymore.

If it were ONLY inter-European migrants coming in I'm convinced that the UK would have voted remain.

I'll leave you with this, a picture of the 'refugees' arriving daily, by the thousands on European soil. This is Italy, they are trying to bypass Lesbos as the borders have went up
.Attachment 560166560168Attachment 560166560168560200

Name:  332B6A4800000578-3539484-Hope_The_arrivals_were_rescued_just_30miles_off_Libya_s_coast_by-a-55_1.jpg
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Size:  186.3 KB
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ODES_PDES
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It is a misleading graph
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skunkboy
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(Original post by Final Fantasy)
Did someone seriously say this? So what now, let's hear from morons instead? :lolwut:
No. Let's hear from British patriots. They won. They will always love UK. They will always die for UK. And they will make UK great again.

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Final Fantasy
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(Original post by skunkboy)
No. Let's hear from British patriots. They won. They will always love UK. They will always die for UK. And they will make UK great again.

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Can I still keep my BMW?
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Napp
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(Original post by ODES_PDES)
It is a misleading graph
In what respect?
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ODES_PDES
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(Original post by Napp)
In what respect?
It does not start from zero so the drop appears massive
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Bill_Gates
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(Original post by HanSoloLuck)
Still worth it, I'd rather live in poverty than have any more 'refugees' forced upon us. As the terror cells begin to precipitate out from the freeloaders and economic migrants that have been let in, we will begin to see serious attacks being made against non-believers. Among these 'refugees' are also large numbers of Africans, we haven't been able to successfully integrate the blacks that have been here for 2 generations, we simply cannot handle anymore.

If it were ONLY inter-European migrants coming in I'm convinced that the UK would have voted remain.

I'll leave you with this, a picture of the 'refugees' arriving daily, by the thousands on European soil. This is Italy, they are trying to bypass Lesbos as the borders have went up
.Attachment 560166560168Attachment 560166560168560200

Name:  332B6A4800000578-3539484-Hope_The_arrivals_were_rescued_just_30miles_off_Libya_s_coast_by-a-55_1.jpg
Views: 345
Size:  186.3 KB
lol will still have immigrants coming here but more of that and less of Europe. Win win!
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Napp
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(Original post by ODES_PDES)
It does not start from zero so the drop appears massive
It doesn't start from zero it starts at about 1.47 ?
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ODES_PDES
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(Original post by Napp)
It doesn't start from zero it starts at about 1.47 ?
I am sorry you do not understand the point that I am making
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Napp
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(Original post by ODES_PDES)
I am sorry you do not understand the point that I am making
I'm sorry what are you talking about?
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HanSoloLuck
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(Original post by Bill_Gates)
lol will still have immigrants coming here but more of that and less of Europe. Win win!
Yeah, I hate to admit it, you are probably right.

I wouldn't exactly call it a win for anyone in the UK though, perhaps one of these fine fellows will meet you or your loved ones in a dark ally and show you what you've won.
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