GBP vs THB

[pharvey]

One thing that may throw a spanner in the works in the near future, is going to be China adjusting the RMB value against the dollar. Now fixed at +/- 6.83, the "general agreement" is that it's going to change 5-10% (i.e. 6.1 'ish to the USD) - GBP vs RMB will also adjust..... This will obviously have a knock-on effect throught the global currencies.

[caller]

One thing that may throw a spanner in the works in the near future, is going to be China adjusting the RMB value against the dollar. Now fixed at +/- 6.83, the "general agreement" is that it's going to change 5-10% (i.e. 6.1 'ish to the USD) - GBP vs RMB will also adjust..... This will obviously have a knock-on effect throught the global currencies.

Meaning what???

[MrPlum]

My opinion, (guess) - Labour or hung parliament = Low 40's, Tory win = Rapid climb to mid 50's followed by roller coaster ride and hitting 60 Q1 next year.

My guess last year was 40. I don't see anything to alter that. Adding more debt to solve the problem of too much debt is a solution in what way? The Weimarization of the UK and US economies is continuing.

Bankrupt economies that have shipped all their productive capacity abroad have no means to build the balance sheet. Only outcome is a debased currency.

"There is no subtler, no surer way to overturn the existing basis of society to than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner, which not one man in a million is able to diagnose." Keynes

[Big Boy]

Has there been a slight recovery by the GBP, or is the new sidebar Exchange Rate feature a bit more generalised?

[Ken]

Changed from about 1.49 to the dollar to 1.52 and rising as I write this.

[richard]

Improvement (slight)

Just brought sterling in at 48.9 for my daughters visit next week

Hedging as it so variable at the moment

[PeteC]

A ray of hope? Pete


Fitch downgrades Thai currency outlook (The Nation)

International ratings agency, Fitch Ratings on Monday downgraded Thailand's currency rating outlook to negative from stable Monday on political uncertainty due to the prolonged anti-government rallies.

Fitch Ratings affirmed the long-term local currency rating for Thailand at "A-" and said Thailand's economic future remains gloomy due to unresolved political conflicts which hurts investment climate.

[Big Boy]

How soon is that likely to take effect? I've got to pay school fees for my grand daughters soon, and will wait a couple of days if we're likely to see an improvement.

[PeteC]

How soon is that likely to take effect? I've got to pay school fees for my grand daughters soon, and will wait a couple of days if we're likely to see an improvement.

The report was at 1630 hours yesterday so local markets basically closed. Yahoo at the moment has it at 49.39 and the dollar at 32.21 which I think are selling rates, and really where they've been since Songkran started. Bangkok Bank has buying/selling at 48.40/49.99 and 31.96/32.61. If you can wait a few days, I would. If something hits I think it will be sudden once it dawns on the markets after this rating change how F'ed this place is at the moment. Pete

[Big Boy]

Thanks Pete, school fees aren't required until 1 May, so I've got a couple of days yet.

PS: Have you read the signature?

[PeteC]

I feel badly for you. I was just at the Newcastle site and the results hadn't been posted yet. Chin up. Pete

[Big Boy]

When you support a team like Plymouth for as long as I have, you get used to the good times as well as the bad. Fortunately we've had more good times than bad recently.

Anyway, with a brave please.

[PET]

Moderator - back on subject please !!!

[PeteC]

It appears the rating change has made no difference. Rates this afternoon are GBP 48.40/50.00 and USD 31.72/32.37. The news has a few articles today that Thailand is now very low on the list for investors, especially from Japan. Nothing seems to make a difference concerning Baht strength. The key question now being is it being propped up by the government? Pete

[PET]

If you hope the Sterling Pound will improve against the Bhat then you had better hope the Conservatives win the election.

The FX market does like their plan of an early debt repayment and a 'Hung Parliament' will be bad news.

The Lib Dems with their Euro currency plans ? - enough said !!