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UK pound drops on hung parliament fears
http://www.x404.co.uk/forum/viewtopic.php?f=19&t=6617		 Page 1 of 1
Author:  Amnesia10 [ Mon Mar 01, 2010 12:41 pm ]
Post subject:  UK pound drops on hung parliament fears
http://news.bbc.co.uk/1/hi/business/8543007.stm

This is actually good news. It makes our goods cheaper in the rest of the world and so help exports, and it will make overseas holidays more expensive so helping the UK hotel trade.

Quote:
Pimco's head, Mohamed El-Erian, told the BBC the UK's creditors would become "significantly concerned" if the UK did not cut spending and grow quickly.

This is unlikely. If they cut spending then the growth falls or even drops again.
Author:  TheFrenchun [ Mon Mar 01, 2010 12:48 pm ]
Post subject:  Re: UK pound drops on hung parliament fears
It's really good for me :) Grant is actually worth a lot now. however not that great for most british people :s
Author:  hifidelity2 [ Mon Mar 01, 2010 1:14 pm ]
Post subject:  Re: UK pound drops on hung parliament fears
Not good for me as off to the states soon - Grrr the beer will be more expensive. Thought of getting an iTouch in America but the price differential is dropping - might even be cheaper to get it in duty free in Heathrow
Author:  TheHobgob [ Mon Mar 01, 2010 1:22 pm ]
Post subject:  Re: UK pound drops on hung parliament fears
hifidelity2 wrote:
Not good for me as off to the states soon - Grrr the beer will be more expensive. Thought of getting an iTouch in America but the price differential is dropping - might even be cheaper to get it in duty free in Heathrow


+1 off to NY soon, was hoping to get some stuff out there.
Author:  Coref [ Mon Mar 01, 2010 7:53 pm ]
Post subject:  Re: UK pound drops on hung parliament fears
Amnesia10 wrote:
http://news.bbc.co.uk/1/hi/business/8543007.stm

This is actually good news. It makes our goods cheaper in the rest of the world and so help exports, and it will make overseas holidays more expensive so helping the UK hotel trade.

Quote:
Pimco's head, Mohamed El-Erian, told the BBC the UK's creditors would become "significantly concerned" if the UK did not cut spending and grow quickly.

This is unlikely. If they cut spending then the growth falls or even drops again.


But inflation will rise as imports get more expensive. Look at the difference in between oil prices at their peak and petrol prices and then compare them to now.
Author:  Amnesia10 [ Mon Mar 01, 2010 7:57 pm ]
Post subject:  Re: UK pound drops on hung parliament fears
Yes but these will also stimulate home production of many goods and services. I will be affected as I buy the odd item from the US and have to pay in $ which boosts the costs, but a expensive pound has not really helped us as a nation.
Author:  big_D [ Mon Mar 01, 2010 8:06 pm ]
Post subject:  Re: UK pound drops on hung parliament fears
Amnesia10 wrote:
This is actually good news. It makes our goods cheaper in the rest of the world and so help exports, and it will make overseas holidays more expensive so helping the UK hotel trade.

Unless you have a UK pension and are an ex-pat... :( ;)
Author:  Amnesia10 [ Mon Mar 01, 2010 8:31 pm ]
Post subject:  Re: UK pound drops on hung parliament fears
Yes but the government could negotiate with other governments to stabilise the pensions There are hundreds of thousands of UK pensioners all over Europe who will be affected by this. Maybe the rules should allow people to transfer their pension funds so that the currency risk is eliminated once the pension is transferred.
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