The pound is crashing !!!

(54 Posts)
adrianna22 Fri 24-Jun-16 18:36:50

They are now saying....

£1 = £1.23-- gone down by 5.76%

£1= $1,38-- gone down by 7.55%

sad

PreAdvent13610 Fri 24-Jun-16 18:40:35

Expected consequence.
Unlike the rest of the world's currencies, there is no reason to believe the pound will recover long term. Unless George Osborne is planning on creating the world's largest tax haven.

EveOnline2016 Fri 24-Jun-16 18:40:40

It was going to happen. The pound is still stronger but it has weakened slightly

IcaMorgan Fri 24-Jun-16 18:43:52

The pound has been £1=€1.21 to €1.25 all year (jumped to €1.28 in May) so if it's €1.23 now then it's in the same range as it has been

Kimononono Fri 24-Jun-16 18:45:02

It fluctuates all the time, don't panic it will come back up

Lighteningirll Fri 24-Jun-16 18:45:25

It's the same as it was four weeks ago

ThenLaterWhenItGotDark Fri 24-Jun-16 18:46:13

Have you only just noticed? It hit its lowest ever of 1,20 euro this morning. It's picked up slightly since then.

What exactly did people think was going to happen when a country votes almost 60% of its trade partners/agreements as no longer wanted?

ThePinkOcelot Fri 24-Jun-16 18:47:25

The £ has been like for like with the € in the past, surprise surprise even in the EU. Calm your titties!!

branofthemist Fri 24-Jun-16 18:49:35

And it was artificially inflated last night. Bet a lot of people made a lot of money last night before out won. It happens. The sky isn't falling

Togaparties Fri 24-Jun-16 18:52:30

Have you only just noticed? It hit its lowest ever of 1,20 euro this morning

Utter nonsense. It was close to parity in 2009. More uninformed scaremongering BS.

PrincessIrene Fri 24-Jun-16 18:53:18

Both the pound and the FTSE were artficially inflated in the run up to this. They have both now SETTLED to last weeks levels. Within 24 hours. I'm fairly sure that sky is still up there chicken licken!

whatamidoinghereanyway Fri 24-Jun-16 18:53:47

Have you only just noticedgrin
I'm sure it will stabilise.

Hulababy Fri 24-Jun-16 18:55:31

Its against the $ which seems strongest hit.
The euro seems to have stabilised.

sunnydayinmay Fri 24-Jun-16 18:55:49

Friend of mine lost a load last night! Gambled the wrong way.

RortyCrankle Fri 24-Jun-16 18:58:42

Get your 'End of the World' sandwich boards here!! Oh wait a minute - strike that, panic over.

mrsfuzzy Fri 24-Jun-16 18:58:44

bank of england is in a far better position than it was in 2007, we are in a stronger place to deal with the financial angle, everything will settle.

PreAdvent13610 Fri 24-Jun-16 19:01:05

The Bank of England spent £150 billion today supporting the pound, how the fuck is that a strong position?

GiddyOnZackHunt Fri 24-Jun-16 19:04:45

It looks particularly bad because it was artificially high prompted by the money markets gambling on Remain. The massive drop from there reflects the scramble of the financiers to reverse that position.
It's now low but it is reactive not predictive. The DAX has fallen over worries about German exports to the UK. It really is too early to panic.

CoolCarrie Fri 24-Jun-16 19:15:59

Keep Calm and Carry On!

mouldycheesefan Fri 24-Jun-16 19:16:19

The £150 billion Bank of England prop up seems to be some kind of magic money that nobody actually has to pay for so it doesn't matter! According to those in favour of brexit! No cost to the exit my arse. Day one and it's already a disaster.

QueenLaBeefah Fri 24-Jun-16 19:17:38

If the £ plummets it makes our exports cheap and is good for British tourism.

snowy508601 Fri 24-Jun-16 19:19:45

don't be silly! this is people selling their pounds short term hoping to buy them back cheaper in a few hours or days! That is how the markets work.
Just been looking at the exchange rates of the early 70s before we joined the EU or the EEC as it was then I think - you got nearly 2$ to a £

Kennington Fri 24-Jun-16 19:19:56

Yep more people will buy our exports now and come shopping here so not all bad!

Ailicece Fri 24-Jun-16 19:21:03

Of course it is! And it won't go back up again anytime soon, only further down.

Hello inflation, increased prices, more austerity... But yay, we have "control" back, right?

JudyCoolibar Fri 24-Jun-16 19:21:56

Wow. I hear the sound of an awful lot of people clapping their hands to their ears and loudly singing la la la to avoid having to acknowledge the truth.

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