The pound is crashing !!!

[adrianna22]

They are now saying....

£1 = £1.23-- gone down by 5.76%

£1= $1,38-- gone down by 7.55%

And what in the name of fuck do we actually export anymore??!?

Its the lowest its been in 31 years. How is that going up and down?! WTAF?

It's just a knee jerk reaction; quite expected.
It will rise again.

Fuck all, Boos.
Tech, banking and creative industries are our main output. With Morgan Stankey fucking off and Santander and HSBC threatening to the arse end seems to be dropping out of finance...

If the cap fits.......

Bollocks it's good for exporters.

It's not.

Most exporters have to import many of their components.

So my company is now paying more for products they sell for less.

It's down on the day, but has been slowly rising from mid-morning onwards.

FTSE is higher than it was at the start of the week

Company I used to work for would have been fine. British manufactured product, made in Britain, packaged in Britain, exported from Britain.

Only they decided to outsource manufacturing to EU. Packaging still here but outsourced export admin and made me redundant (I was the export manager).

Wondering what they're going to do?

My DC are both off to Europe (another place now?) - different countries - in the next few weeks.

One thing we didn't think of ... we should have got them some Euro's before the EU vote.
Oh well, probably the least of all our worries

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!

The government hedges against movements in the pound by holding other currencies and commodities
As investors have sold sterling many have invested in gold.Today gold has shot up in value by about 5% .The government then sells some gold reserves to liquidate this gain and uses the money to buy sterling.

I buy $$s almost every week and this is the loest I've ever seen it! Disaster.
Some people on here live in la la land. Please if you do not understand business or how markets work- just don't say anything.

This time next week, ya'll realize what's just knocked on your door (and you answered).

lowest

JugglingFromHereToThere Monitor it carefully, there are bound to be a few upward bounces before it settles.

Closing market today was similar to the beg of last week! The whole first half of the year has been very difficult with red in most days especially in Feb when liquidity dried up! Even without Brexit, pound has been below $1.5 for a long long time and showing to fall lower

Most exporters have to import many of their components.

Yes. Not many companies in the UK make all the bits they use in making a bigger thing to sell to us ... and fewer still manage to export.

Just about everything you can think of buying has just become more expensive.

More control, my arse.

Well you can thank eu money for that we used to make ford transits in Southampton until the eu used our money to pay ford to move production to Poland I think.

Bet a lot of people made a lot of money last night before out won.

Yes. Nigel Farage, for example. Is that why he announced that he thought Remain had won as soon as the polls closed?

Please if you do not understand business or how markets work- just don't say anything

Are you officially board monitor or just self-appointed, Wally?

Of course it is Elvira, he knew exactly what he wa doing. This is all a game to him, and we're his pawns

I think Carney will jump ship soon. Clenched buttocks time!

there you go wally. Not only can you not argue with stupid, you can't help it not embarrass itself either.

The supposed "Intelligent posters" of MN must all be necking the Chardonnay tonight.

They are going to put petrol prices up quite shortly

Long term £:dollar exchange rate is something I take interest in, right now it's exceptionally low compared to entire last 25 years.

Blimey what a drama . Let's just see what happens in the next week or so.

The dollar has being inherently strong the last year today is but one event in the pounds decline against the dollar.
Anyone in business buying dollars would surely have the foresight to hedge their currency needs before today! Its not like we had no warning it could go either way.