UK £ now regarded as 'emerging market' currency

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Fullofsurprises
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In the eyes of international finance, Sterling is now the currency of an emerging market, such as a developing world economy.
https://www.ft.com/content/4fd04fd9-...1-97466f226159

Our descent into oblivion is progressing nicely. :sad:
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Napp
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The article seemed to hold promise until he compared it to the Peso. A 2nd rate analyst on an ego trip it would seem.
With that being said the long term fundamentals arent necessarily wrong but only time will tell once the current storms pass.
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barnetlad
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The decrease in the value of the pound since the Brexit referendum should concern us. Though we are not an 'emerging' economy, and when people try to compare us to developing countries in some shape or form I often object to the comparison. Comments such as Third World train services, for example.
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Wired_1800
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(Original post by Fullofsurprises)
In the eyes of international finance, Sterling is now the currency of an emerging market, such as a developing world economy.
https://www.ft.com/content/4fd04fd9-...1-97466f226159

Our descent into oblivion is progressing nicely. :sad:
I think coronavirus may have impacted the Sterling the same way it impacted other major currency. There is also negative sentiment being pushed by the anti-Brexiteers that influence market confidence.
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Fullofsurprises
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(Original post by paul514)
Oh yea one of the biggest world economies currency is not a top player....

Do you even engage your brain before posting drivel? 🤡
Not me - the FT!
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Napp
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(Original post by Wired_1800)
I think coronavirus may have impacted the Sterling the same way it impacted other major currency. There is also negative sentiment being pushed by the anti-Brexiteers that influence market confidence.
You can't just blame those evil remainers for all your woes on this... Brexiteers desire for the hardest of hard brexits is doing it.
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artful_lounger
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Now for a break from our daily coronavirus crisis, lets revisit the other crisis we're going through which was completely self inflicted! Too bad as it turns out without the backing of a powerful trading market we had privileged access to, the UK economy offers very little to ourselves or anyone else. Who could've thought?
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DJKL
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(Original post by Wired_1800)
I think coronavirus may have impacted the Sterling the same way it impacted other major currency. There is also negative sentiment being pushed by the anti-Brexiteers that influence market confidence.
Surely then there would be little movement in the exchange rate amongst them if all impacted, currency movement are comparative.

Market confidence in the UK will more be hit if virtually no trade deal by 31 December (strictly needs agreed I think by 31st October), which is looking more and more likely by the day . Of course HMG decided not to trigger our right to a transition extension, deadline for that was 30th June.

Anyone fancy predicting UK unemployment numbers by say December 2021 as a result of the Covid/Brexit stew currently being cooked, on the assumption no rabbit out of the hat and no substantive trade deal with the EU, and our exit from all trade deals we currently enjoy via our EU membership with ROW that will likely, in such an event, also lapse, I will start the bidding at say 3.5-4million; higher, lower?

Above based on claimant count, we are right now on 2.1m but that includes the April 865k surge due to how benefits are being paid due to Covid, so pre Covid say 1.2 million, December 2021 predictions?
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Wired_1800
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(Original post by DJKL)
Surely then there would be little movement in the exchange rate amongst them if all impacted, currency movement are comparative.

Market confidence in the UK will more be hit if virtually no trade deal by 31 December (strictly needs agreed I think by 31st October), which is looking more and more likely by the day . Of course HMG decided not to trigger our right to a transition extension, deadline for that was 30th June.

Anyone fancy predicting UK unemployment numbers by say December 2021 as a result of the Covid/Brexit stew currently being cooked, on the assumption no rabbit out of the hat and no substantive trade deal with the EU, and our exit from all trade deals we currently enjoy via our EU membership with ROW that will likely, in such an event, also lapse, I will start the bidding at say 3.5-4million; higher, lower?

Above based on claimant count, we are right now on 2.1m but that includes the April 865k surge due to how benefits are being paid due to Covid, so pre Covid say 1.2 million, December 2021 predictions?
My point was the Brexit and Covid was double whammy for the UK economy. Brexit uncertainty was one thing but when we had to shut down most of the economy due to Covid, the economy was pushed into a recession, which was confirmed by Bailey at the Bank of England and Sunak at the Treasury.
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Wired_1800
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(Original post by Napp)
You can't just blame those evil remainers for all your woes on this... Brexiteers desire for the hardest of hard brexits is doing it.
We can. If those remainers had worked with Brexiteers to help steer the economy, maybe we would have had better landing.
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imlikeahermit
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(Original post by barnetlad)
The decrease in the value of the pound since the Brexit referendum should concern us. Though we are not an 'emerging' economy, and when people try to compare us to developing countries in some shape or form I often object to the comparison. Comments such as Third World train services, for example.
Just on the point of our train services, we seem to pay a first class ticket every time for what you've pointed out, is a third world service. Makes me laugh, in Japan, if a train is more than 30 seconds late they get a card to give their employer to prove it was late, as it was that unbelievable that it is late. In this country, it's very common for trains to just not show up at all. Our train services ARE a third world service.
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Trotsky's Ghost
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(Original post by paul514)
Oh yea one of the biggest world economies currency is not a top player....
That is not what the FT articles states.

Were you too lazy to read it or was it beyond your comprehension?
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Fullofsurprises
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(Original post by DJKL)
Surely then there would be little movement in the exchange rate amongst them if all impacted, currency movement are comparative.

Market confidence in the UK will more be hit if virtually no trade deal by 31 December (strictly needs agreed I think by 31st October), which is looking more and more likely by the day . Of course HMG decided not to trigger our right to a transition extension, deadline for that was 30th June.

Anyone fancy predicting UK unemployment numbers by say December 2021 as a result of the Covid/Brexit stew currently being cooked, on the assumption no rabbit out of the hat and no substantive trade deal with the EU, and our exit from all trade deals we currently enjoy via our EU membership with ROW that will likely, in such an event, also lapse, I will start the bidding at say 3.5-4million; higher, lower?

Above based on claimant count, we are right now on 2.1m but that includes the April 865k surge due to how benefits are being paid due to Covid, so pre Covid say 1.2 million, December 2021 predictions?
Yes, things are looking pretty grim.

It's interesting that David Frost has been taken off to National Security - perhaps he has been another to inform the government that there is no hope of a good outcome and the Brexidroids who surround Cummings can't or won't hear this.

I suspect by Dec 21 we will have 4-5m unemployed, the £ will be a basket case and there will be widespread civil disorder and a government in hiding, based on their current plan of No Deal.
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paul514
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(Original post by Trotsky's Ghost)
That is not what the FT articles states.

Were you too lazy to read it or was it beyond your comprehension?
I replied to a comment on an article not the article itself l.

Are you to lazy to work out communism has never worked?
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Napp
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(Original post by Wired_1800)
We can. If those remainers had worked with Brexiteers to help steer the economy, maybe we would have had better landing.
So your policy is blame everyone else but the ones who actually caused it? Not childish at all.
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DiddyDec
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(Original post by Napp)
So your policy is blame everyone else but the ones who actually caused it? Not childish at all.
That is how we got Brexit in the first place.
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Napp
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(Original post by DiddyDec)
That is how we got Brexit in the first place.
prsom
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paul514
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(Original post by Fullofsurprises)
Yes, things are looking pretty grim.

It's interesting that David Frost has been taken off to National Security - perhaps he has been another to inform the government that there is no hope of a good outcome and the Brexidroids who surround Cummings can't or won't hear this.

I suspect by Dec 21 we will have 4-5m unemployed, the £ will be a basket case and there will be widespread civil disorder and a government in hiding, based on their current plan of No Deal.
And when that doesn’t happen are you going to public ally say you were wrong?
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imlikeahermit
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(Original post by Fullofsurprises)
Yes, things are looking pretty grim.

It's interesting that David Frost has been taken off to National Security - perhaps he has been another to inform the government that there is no hope of a good outcome and the Brexidroids who surround Cummings can't or won't hear this.

I suspect by Dec 21 we will have 4-5m unemployed, the £ will be a basket case and there will be widespread civil disorder and a government in hiding, based on their current plan of No Deal.
At least we can point and laugh and say “we told you so!”

Every cloud!
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barnetlad
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(Original post by Fullofsurprises)
Yes, things are looking pretty grim.

It's interesting that David Frost has been taken off to National Security - perhaps he has been another to inform the government that there is no hope of a good outcome and the Brexidroids who surround Cummings can't or won't hear this.

I suspect by Dec 21 we will have 4-5m unemployed, the £ will be a basket case and there will be widespread civil disorder and a government in hiding, based on their current plan of No Deal.
I agree about the large number of unemployed, but do not agree about civil disorder. This is Britain where there will just be a lot of tutting, and comments on social media.

As for a government in hiding, we've had one for several months already. Remember the floods in parts of the north of England in February?
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