Now UK coming out of EU with no deal. what is going to happen to sterling??

[john west 29]

Hi and  the multi million question.
What is going to happen to Sterling after the UK it seems crashing out of the EU without a deal and most of us have not got a pot of gold.
IMHO I think against the very strong Baht it will weaken further, but who knows and no expert and us ex pats are really struggling and yes indeed the Thais are feeling the pinch as well, well everyone is to be frank.
Even the so called measures by the Treasury of Thailand the other week has it seems no effect whatsoever.
Worrying times for those on frozen state pensions and the very poor exchange rates.
What are your views?
 

[anterian 2,846]

I saw this coming several years ago so shifted half of the money I had on deposit in the UK to Thailand. This means that I currently have enough Baht in the bank here to survive for several years, by which time the Pound will have recovered or I will be dead.

[petermik 16,309]

I asked this same question to a fortune teller in soi Bukhaow (Pattaya) market the other day and she said (pigeon english of course) initially it will sink to 35 baht but late december will bounce to 40 and continue rising during the course of next year to a high of 54.......with this news I happily gave her a 20 baht tip

[Jip99 11,267]

5 minutes ago, anterian said:

I saw this coming several years ago so shifted half of the money I had on deposit in the UK to Thailand. This means that I currently have enough Baht in the bank here to survive for several years, by which time the Pound will have recovered or I will be dead.

 

I saw a different opportunity..

 

I now only transfer the minimum amount I need each month from Sterling to Baht.

 

I have taken the opportunity to spend more time visiting the UK - and Europe.

[BritManToo 43,902]

22 minutes ago, john west said:

What are your views?

I don't think it will happen.

There'll be another extension/delay.

[Jip99 11,267]

Just now, petermik said:

I asked this same question to a fortune teller in soi Bukhaow (Pattaya) market the other day and she said (pigeon english of course) initially it will sink to 35 baht but late december will bounce to 40 and continue rising during the course of next year to a high of 54.......with this news I happily gave her a 20 baht tip

 

 

 

If she told me that, she would have been rewarded with a 100 Baht note... 

[Golden Triangle 4,942]

I would say "Stand by for a severe rogering up the rear end financially" we have been let down big style by our so called politicians, they have totally ignored the wishes of the majority - and that ladies and gents comes from someone who voted to remain, the reason I voted that way is because I knew the damage that leaving could / would cause.

[petermik 16,309]

7 hours ago, Golden Triangle said:

I would say "Stand by for a severe rogering up the rear end financially" we have been let down big style by our so called politicians, they have totally ignored the wishes of the majority - and that ladies and gents comes from someone who voted to remain, the reason I voted that way is because I knew the damage that leaving could / would cause.

Any remainers unhappy about LOSING the vote can move to one of the countries still in the EU after we leave.....enjoy

[Baerboxer 34,786]

No one can really predict. But likely the market has already priced much of this in. As such, initially there will be a drop but not massive and then a bounce back. How long that will take to bounce back, no one knows. But probably reasonably quickly.

 

The pound has been between 1.20 and 1.25 USD. Expect that range to narrow but doubt it will go below 1.20; it it does, not for too much time. 

 

No one knows but I guesstimate is no deal will mean 1.20-1.22 when things settle. After that who knows!

[Golden Triangle 4,942]

24 minutes ago, petermik said:

Any remainers unhappy about LOSING the vote can move to one of the countries still in the EU after we leave.....enjoy

I didn't say anything about being unhappy with the result of the referendum, I stated my position so you could see and understand my point of view, am I unhappy with the way it has been handled and our country being made the laughing stock of the world by our totally inept and ineffective politicians ?? The answer is a very big YES, so please don't try to label me us a <deleted>. R e m o a n e r. I have no idea why that word was deleted

Edited October 9, 2019 by Golden Triangle

[thonglorjimmy 379]

28 minutes ago, petermik said:

Any remainers unhappy about LOSING the vote can move to one of the countries still in the EU after we leave.....enjoy

And you're offering that advice from where exactly, the UK? - no I thought not.
I think we'll all eventually have to accept that there are no winners in this whole sorry episode.  

[gamini 2,996]

1 hour ago, petermik said:

I asked this same question to a fortune teller in soi Bukhaow (Pattaya) market the other day and she said (pigeon english of course) initially it will sink to 35 baht but late december will bounce to 40 and continue rising during the course of next year to a high of 54.......with this news I happily gave her a 20 baht tip

ha ha. No deal will bring the pound down to 29 Bt. It won't bounce back

[Kaopad999 1,005]

1 hour ago, BritManToo said:

I don't think it will happen.

There'll be another extension/delay.

Well, the longer the delays, the worse it will be. More time sitting on the fence = more uncertainty, and we should all know that markets don't like uncertainty. 

Deal or no deal, they just need to get on with it now and make a decision.  

[Kaopad999 1,005]

17 minutes ago, gamini said:

ha ha. No deal will bring the pound down to 29 Bt. It won't bounce back

You do not know for sure, because you are not a qualified fortune teller like the lady at the market on soi Bukhaow. So, hush hush! 

Edited October 9, 2019 by Kaopad999

[mstevens 2,244]

The pound will come back at some point.....the thing is, will it be in 3 months time, 3 years....or longer. 35 baht to the pound by year's end is not out of the question.