Cyprus-Forum.com

[erolz66]

There is NO evidence at all that BREXIT has anything at all to do with what is a minor currency fluctuation.

As there is by your logic 'no evidence' that Brexit is not having an adverse effect on the UK economy, yet you still claim to know, absolutely

BREXIT has nothing at all to do with it.

You are asserting that it can not be known what the economic impacts are due to brexit and also that YOU know brexit is absolutely having no net adverse effect. So how it is that YOU and you alone can do what you yourself claim no one can possibly do ?

Any economic turmoil at this point is global, and is effecting most countries in the EU, to North America, Asia and Australia. Right now, the world is panicking over the outbreak of a possible pandemic as if this is the one to beat Spanish Flu. If it becomes anything like the Spanish Flu, then the global economy is going to become a major train wreck.

Yes the pandemic, by definition, is global. So why is sterling suffering vs other currencies more than others. This can not be explain just by the global economic outlook, because that is global and thus can not explain a phenomenon that is local. When markets are looking at a period of economic turmoil and trying to guess which countries are likely to far less bad from such turmoil than others, then the economy of a country that is mid a monumental shift in its trading arrangements globally, with arbitrarily set, self imposed dead lines, is quite obviously considered at greater risk from such turmoil than countries that are not doing this. This is obvious yet you simply ignore this reality it seems to me ?

The UK government will very likely soon officially abandon it's own self imposed deadline for agreeing a new trading arrangement with the EU by the end of this year.

[Paphitis]

There is NO evidence at all that BREXIT has anything at all to do with what is a minor currency fluctuation.

As there is by your logic 'no evidence' that Brexit is not having an adverse effect on the UK economy, yet you still claim to know, absolutely

BREXIT has nothing at all to do with it.

You are asserting that it can not be known what the economic impacts are due to brexit and also that YOU know brexit is absolutely having no net adverse effect. So how it is that YOU and you alone can do what you yourself claim no one can possibly do ?

Any economic turmoil at this point is global, and is effecting most countries in the EU, to North America, Asia and Australia. Right now, the world is panicking over the outbreak of a possible pandemic as if this is the one to beat Spanish Flu. If it becomes anything like the Spanish Flu, then the global economy is going to become a major train wreck.

Yes the pandemic, by definition, is global. So why is sterling suffering vs other currencies more than others. This can not be explain just by the global economic outlook, because that is global and thus can not explain a phenomenon that is local. When markets are looking at a period of economic turmoil and trying to guess which countries are likely to far less bad from such turmoil than others, then the economy of a country that is mid a monumental shift in its trading arrangements globally, with arbitrarily set, self imposed dead lines, is quite obviously considered at greater risk from such turmoil than countries that are not doing this. This is obvious yet you simply ignore this reality it seems to me ?

The UK government will very likely soon officially abandon it's own self imposed deadline for agreeing a new trading arrangement with the EU by the end of this year.

No I am only asserting what the BoE have been asserting and I provided a link.

All currencies are suffering. Why is the Australian currency struggling. Because the money is fleeing Australia for the USD safe haven, that's why.

[miltiades]

Not the mighty Euro !!
By the way currencies are not affected by viruses, only by a nations economic indicators.

[Paphitis]

Not the mighty Euro !!
By the way currencies are not affected by viruses, only by a nations economic indicators.

The Euro isn't mighty. It's just pretend monopoly money on shakey ground or do I need to refer you back to the Banking Collapse? Greece would have been better off with the Drachma, and Cyprus abandoned its mighty Cy Pound.

The USD is king and the Sterling is still worth more. The Sterling will always be worth more as well.

And the EU was already tanking as Britain was growing faster than any EU State.

[miltiades]

Bolloucks !!!
Idu i Rodos idu to pidima.
The Euro will soon replace the dollar as the predominant world curremcy.
Your views are not based on realities but on your personal antipathy towards the EU.
Stick to your ....tax matters !!

[erolz66]

No I am only asserting what the BoE have been asserting and I provided a link.

No where in your link, which is not from the Boe but reporting about it, is the bank of England reported as asserting

"how the hell can anyone determine then whether BREXIT had any affect?"

or

"BREXIT has nothing at all to do with it."

So no you are not just repeating what others are saying, be they journalists or be they the BoE. You are saying x is impossible but that you yourself can do x. That is what you are saying as far as I can understand it. It looks pretty inconsistent to me.

[Paphitis]

No I am only asserting what the BoE have been asserting and I provided a link.

No where in your link, which is not from the Boe but reporting about it, is the bank of England reported as asserting

"how the hell can anyone determine then whether BREXIT had any affect?"

or

"BREXIT has nothing at all to do with it."

So no you are not just repeating what others are saying, be they journalists or be they the BoE. You are saying x is impossible but that you yourself can do x. That is what you are saying as far as I can understand it. It looks pretty inconsistent to me.

The BoW did not mention anything about BREXIT and it's funny how it is even mentioned on this day when the entire world is tanking on the brink of economic disaster.

The Bank of England will surprise markets and deliver a sizeable cut to interest rates in March and restart quantitative easing in April, as part of a global effort to shore up economic activity and investor sentiment in the face of a coronavirus-linked economic slowdown.

This is the view of Bill Diviney, Senior Economist for the U.S. and UK at ABN AMRO, who says the Bank of England will cut interest rates by a sizeable 50 basis points, taking the basic lending rate to 0.25%.

The foreign exchange rule book suggests that when a central bank cuts interest rates - particularly when the cut and the scale of the cut are a surprise - the currency it issues declines in value.

Those watching the Pound should also be aware of the timing of any Bank of England action: the next meeting is scheduled for March 26, but there is growing speculation that the Bank could act as soon as Wednesday, in tandem with the announcement of the government's budget.

Such a move would fulfil incoming Governor Andrew Bailey's testimony to the Treasury Select Committee that a coordinated approach by Government and the Bank of England was required to fight the slowdown inspired by the coronavirus outbreak.

"The Chancellor looks set to unveil measures to help firms affected by the coronavirus outbreak in Wednesday's budget, but markets will be more interested in any coordinated Bank of England action," says James Smith, Developed Markets Economist at ING Bank.

However, because the economic impact of coronavirus is expected to be to the supply side (i.e. a shortage of components for manufacturing) and to sentiment (falls in consumer spending) there is an agreement amongst economists that it is in fact the government who is best placed to assist the economy. This can come in the form of special loans to business, increased sick pay, debt holiday's etc.

Therefore, any Bank of England action on Wednesday would more likely be assistance to government programmes, not necessarily a rate cut. "BoE officials will also be acutely aware that a rate cut – lowering debt-service costs - is likely to be a less effective demand boost that it normally would, and is unlikely to mitigate the wider cashflow issues facing affected firms as effectively as some fiscal measures," says Smith.

But of course a mid-week rate cut cannot be discounted.

https://www.poundsterlinglive.com/gbp-l ... -forecasts

[Londonrake]

It’s a bad day/week/month to be in shares.

[erolz66]

Not the mighty Euro !!
By the way currencies are not affected by viruses, only by a nations economic indicators.

The Euro isn't mighty. It's just pretend monopoly money on shakey ground or do I need to refer you back to the Banking Collapse? Greece would have been better off with the Drachma, and Cyprus abandoned its mighty Cy Pound.

The USD is king and the Sterling is still worth more. The Sterling will always be worth more as well.

And the EU was already tanking as Britain was growing faster than any EU State.

Some actual facts for you, not that they will make any difference to you but still they remain plain facts

in the months before the referendum vote one pound sterling would buy you between 1.25 euro and 1.45 euro

in the years since the referendum vote one pound sterling has bought you between 1.05 euro and 1.21 euro

[Paphitis]

It’s a bad day/week/month to be in shares.

That;s correct.

All the money is fleeing into Gold, Silver and USD.