My day rate just keeps climbing
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Why is the pound taking a beating from the euro all of a sudden?
Collapse
X
-
Why is the pound taking a beating from the euro all of a sudden?
"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain -
I'm not sure. I assume the markets think the British economy is pretty stuffed.
The € was doing badly for a while because of the worries about eurozone banks holding dodgy government debts but those worries seem to have passed, even the recent downgrades to Ireland and Spain don't seem to have had much impact, so I suppose those earlier falls are reversing. It's still weaker against the pound than it was at the start of the year though, so we could have more to come.
Parity by Christmas anyone?While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.' -
Last week we were seeing 1.22 € to the £ now it's 1.175 today.
Parity sounds great, in theory, when working in euroland but at the same time I've assets back home and if the £ keeps falling the pressure to increase interest rates grows."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
-
But we had €1.09 to €1.10 a few months ago.
I think the MPC will be more concerned with runaway inflation. A weakening pound is going to help exports, although it might make it harder to fund the defecit they can always sell euro denominated bondsWhile you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'Comment
-
Did you consider that you losing money earlier in the year when the euro hit the rocks?
It's all froth. It's been lower, and it's been higher.Comment
-
Comment
-
Originally posted by doodab View PostThe € was doing badly for a while because of the worries about eurozone banks holding dodgy government debts but those worries seem to have passed, even the recent downgrades to Ireland and Spain don't seem to have had much impact, so I suppose those earlier falls are reversing. It's still weaker against the pound than it was at the start of the year though, so we could have more to come.And what exactly is wrong with an "ad hominem" argument? Dodgy Agent, 16-5-2014Comment
-
Originally posted by Mich the Tester View PostThe biggest economies in Euroland are nothing like as stuffed as Greece and Spain; even Italy isn't as buggered as some people think; as soon as sales of cars and white goods improve, the Italians start making money again. Greece is a tiny economy compared to the big economies like France, Germany and Italy, all of whom aren't doing as badly as was expected.
Sounds a good idea to me.Behold the warranty -- the bold print giveth and the fine print taketh away.Comment
-
Originally posted by doodab View PostI think the MPC will be more concerned with runaway inflation.Comment
-
Originally posted by Mich the Tester View PostThe biggest economies in Euroland are nothing like as stuffed as Greece and Spain; even Italy isn't as buggered as some people think; as soon as sales of cars and white goods improve, the Italians start making money again. Greece is a tiny economy compared to the big economies like France, Germany and Italy, all of whom aren't doing as badly as was expected. Benelux is OK thanks to reasonably sensible fiscal policies. If you downgrade the euro because you think eurolands sovereign debt is a problem, you're automatically losing out on the chance of very long term very safe investment in German, Dutch, Belgian and Luxurybourg gilts; all those countries have very solid reputations and actually form a larger chunk of the euroland economy than all the olive oil countries together. Ireland seems to be getting it's act together on the fiscal side, and I've heard that the economy there is at least showing signs of not getting any worse.
Mich,
very nicely put.
Reading the FT on the plane on the last few flights to work, sounds like Germany is turning the corner, manufacturing numbers are up up up, factories are taking people off short time working and even getting their temp numbers back up. Same goes for CZ infact the two from a manufacturing perspective are inextricably linked.
As we all know, manufacturing is the foundation stone of sensible economies, and once the manufacturing wheels start turning again, then slowly but surely the rest will pick up - so this is very good news.
Milan.Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment