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UK Pound v Thai Baht and other currencies


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I have not read anywhere recently about the performance of the GBP against other currencies but most importantly for me , the Thai baht .   It seems that every day the pound is strengthening against the baht , today at 10 00 am 1 gbp = 42.25 baht and the months forecast is for a similar trend , also against the US dollar 1.48 $ to the £

Any TVF currency gurus know why ?

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I just hope it doesn't go crashing back down again like it's done with every other recovery 'blip' over the last couple of years.  Up from 39 to 40 (great!) only to drop to 38 days later 😡

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2 minutes ago, Moonlover said:

What you're describing are ripples, not trends.

 

The trend is definitely up now for the pound. I think the BREXIT jitters are beginning to fade.

 

https://www.xe.com/currencycharts/?from=GBP&to=THB

 

Whatever description we choose to assign to it the pound has barely risen above 40 for a long time.  Only time will tell is this is a trend and not a longer lifespan ripple, maybe a 'tripple'.

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4 hours ago, treetops said:
5 hours ago, superal said:

also against the US dollar 1.48 $ to the £

 

4 hours ago, treetops said:

 

That would be good, but a trifle optimistic for now I think.

This might sound a bit over simplistic, but if a currency rises, it rises against all other currencies. The only exception would be a currency that happened to rise at the same time. 

 

If you look at the GBP-THB graph and then the GBP-USD graph on the XE site I posted above, you'll see they both roughly follow the same trend.

 

That's the way to check to see whether it's your currency that's moving up, or it's the Thai Baht that's moving down.

 

Edited by Moonlover
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15 hours ago, douglasspade said:

When GBP/USD pushes through 1.435, I would call it a comeback. For now GBP/THB are edging on a major weekly resistance at 42.290-  held since 2018/11/12, that is 800 odd days. Pushing bullish and holding that price, it could push for the next major resistance of 45.200 - witch was the support of the 2016 selloff.

 

The Dollar is on the three-year low against the British Pound due to boosted risk sentiment, because of the current covid progress in the US (also fueled by change of Presidency). Although the Thai Baht is performing remarkably well 'in range' against the Dollar, it always perform in sequence with the Dollar against European markets. The Baht is not a US pegged market since 1997, but trade sentiment is such a dishonorable thing 😋😋😋!

I'm surprised the dollar hasn't dropped further in view of the ultra left-wing Democrats now holding power. Given time, it'll probably bomb.

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18 hours ago, treetops said:

 

That would be good, but a trifle optimistic for now I think.

My AUD is buying USD at a reasonable price

And Philippines Peso rate is 38 up from 35

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I'm not an economist, but I have been watching the fundamentals underlying the UK and Thai economies lately. 

 

I don't understand the Thai economy as well as I do that of the UK, but it's fairly clear that neither economy has recently experienced anything that one could call an upturn. 

 

The UK economy has recently reported the worst performance in many years and Brexit is proving to be much more expensive than forecast, with greater barriers to trade than were promised. 

 

Thailand of course is suffering greatly through lack of tourist income, though I recently learned that the latter is only 10-15% of the country's income. 

 

In short, this is likely to be a blip, rather than a lasting trend. We've just sold our house in Phuket and I'm happy not to panic and transfer the money to the UK. 

 

We'll see! 

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6 minutes ago, Jonnapat said:

The week before Brexit it was around 54 baht, so it has a hell of a long way to go yet.

Someone had to put a negative spin on it. Up again today, out performing euro

Screenshot_2021-02-24-11-09-25-167_com.fusionmedia.investing~2.jpg

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3 hours ago, IvorBiggun2 said:

Now renamed 'Wise'.

So now you've no idea what business they are in or what they do. At least TRANSFERwise gave you a heads up.

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My pension is paid into my Thai bank this Thursday a little bonus for now is good. 

Want to get money over to but will see how it goes for another month. 

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