GBP vs THB

[Big Boy]

I've tried to predict before - it just doesn't work. My recent success was pure luck. I feel extremely happy with my result, and if the £ continues to get stronger, I'll still feel happy.

[PET]

It is ridiculous to ask for forward currency predictions, with any certainty, if one could do so then one could be a multimillionaire rather quickly

[JimmyGreaves]

Big drop today 2 cents already dropped against US $ and down to 49.76 baht also dropped against euro!

[chopsticks]

Wonder what caused that ?

Also the USD now moved slightly back ahead of AUD.

[margaretcarnes]

you guys reckon we going to get better than 50 to the pound? got some holiday cash to get only about 300-400 quid rest will go on halifax card. not sure when to get it. do i hold out for better price .......... damn you indecision.

I'm no economist but there are some clever money guys on here - so my question would be - in the likely event that Greece goes bust, with a knock on effect on the Euro as a whole - how would that be likely to affect the strength of the pound?

[PET]

Greece and the Euro are a huge problems which politicians hope will go away: they will not and we shall see what has to be done sometime in the next 2 months, because they have run out of time and positive action is required

Meanwhile it is business as usual for the US$ - going there is considered the safe haven, and hence why the £ has weakened over 4 cents in the last 3 weeks.

Historically when sterling weakens against the US dollar it also weakens against the Thai Baht.

[MrPlum]

Chartists will tell you 50 is major support/resistance. When the rate was above 50 and falling, then 50 provided strong support (since 2009). Now the level has fallen and stayed below 50, it now becomes resistance. 50 has been tested a few times, from below and failed.

I don't know how many times 50 will be tested but if we dip below the previous low of 46.5 there is no knowing where the floor lies.

This 10 year chart shows the trend clearly.. http://www.xe.com/currencycharts/?from= ... B&view=10Y

[Spitfire]

This is the rates chart for the Siam Commercial Bank over recent times regarding the rate it has given out for the pound. Seems to confirm what MrP mentioned.

[richard]

Baldrick: "What I want to know, Sir is, before there was a Euro there were lots of different types of money that different people used. And now there's only one type of money that the foreign people use. And what I want to know is, how did we get from one state of affairs to the other state of affairs"


Blackadder: "Baldrick. Do you mean, how did the Euro start?"


Baldrick: "Yes Sir"



Blackadder: "Well, you see Baldrick, back in the 1980s there were many different countries all running their own finances and using different types of money. On one side you had the major economies of France, Belgium,Holland and Germany, and on the other, the weaker nations of Spain, Greece, Ireland, Italy and Portugal. They got together and decided that it would be much easier for everyone if they could all use the same money, have one Central Bank, and belong to one large club where everyone would be happy. This meant that there could never be a situation whereby financial meltdown would lead to social unrest, wars and crises".


Baldrick: "But this is sort of a crisis, isn't it Sir?".


Blackadder: "That's right Baldrick. You see, there was only one slight flaw with the plan".


Baldrick: "What was that then, Sir?"


Blackadder: "It was bollocks".

[Terry]

Some of you may have seen this before - but for those that have not

Following on from Richard & Blackadder's contribution above..............


The European Commission has just announced an agreement whereby English will be the official language of the European Union rather than German, which was the other possibility.

As part of the negotiations, the British Government conceded that English spelling had some room for improvement and has accepted a 5- year phase-in plan that would become known as "Euro-English".

In the first year, "s" will replace the soft "c".. Sertainly, this will make the sivil servants jump with joy. The hard "c" will be dropped in favour of "k". This should klear up konfusion, and keyboards kan have one less letter.

There will be growing publik enthusiasm in the sekond year when the troublesome "ph" will be replaced with "f".. This will make words like fotograf 20% shorter.

In the 3rd year, publik akseptanse of the new spelling kan be expekted to reach the stage where more komplikated changes are possible.

Governments will enkourage the removal of double letters which have always ben a deterent to akurate speling.

Also, al wil agre that the horibl mes of the silent "e" in the languag is disgrasful and it should go away.

By the 4th yer people wil be reseptiv to steps such as replasing "th" with "z" and "w" with "v".

During ze fifz yer, ze unesesary "o" kan be dropd from vordskontaining "ou" and after ziz fifz yer, ve vil hav a reil sensibl riten styl.

Zer vil be no mor trubl or difikultis and evrivun vil find it ezi TU understand ech oza. Ze drem of a united urop vil finali kum tru.

Und efter ze fifz yer, ve vil al be speking German like zey vunted in ze forst plas.

[SunandFun]

Terry, you gotta luv it! What a great progression of the English language. Thanks for posting. A great laugh.

[Spitfire]

Baht biggest monthly drop since Sept

Published: 31/05/2012 at 07:10 PM

The baht had its largest monthly slide since September as global funds cut holdings of the country's stocks amid concern Europe's debt crisis will hurt global growth. Government bonds rose.

The baht touched the lowest level since Aug 2010 as exchange data showed international investors sold US$475 million more of Thai equities than they bought this month. The MSCI Asia-Pacific Index (MXAP) of stocks saw the biggest monthly drop in more than three years after Spanish credit-default swaps surged to a record on Wednesday. The European Union accounted for 8.6 per cent of Thailand's exports in the first four months of 2012, official data show.

"With the risk aversion, investors are selling the risky assets, weighing on the baht,” said Paisarn Lertkowit, a currency trader at Bangkok Bank Pcl (BBL). "Investors are worried about Europe and are looking at which countries are the most affected by the slowdown in growth. Most Asian countries are vulnerable to a slowdown in the global economy as exports account for a large part of their economies."

The baht, little changed on Thursday, slumped 3.5 per cent this month to 31.86 per dollar as of 3.19pm in Bangkok, according to data compiled by Bloomberg. The currency touched 31.96 earlier, the weakest level since August 2010. One-month implied volatility, a measure of foreign-exchange swings used to price options, was unchanged Thursday and this month at 4.52 per cent.

The baht has weakened because of the dollar’s strength and Europe's problems, Bank of Thailand director Singhachai Boonyayotin said on Thursday.

The yield on the 3.25 per cent debt due June 2017 slid six basis points, or 0.06 percentage point, to 3.56 per cent in May, according to data compiled by Bloomberg. The rate rose one basis point Thursday.

Thailand recorded a current-account deficit for the second straight month in April as weakening global demand curbed exports. The deficit was $1.52 billion, matching the amount reported for March, the Bank of Thailand said. Exports dropped 3.5 per cent in April after a decline of 6.8 per cent the previous month, the central bank report also showed.

Source - The Bangkok Post

Comment - Keep on going! However, this pesky 50 baht in-the-pound barrier seems to be resilient even though we've nudged through it on occasion.

[SunandFun]

Keep going! It is helping the US$. Major $ transfer coming up in December. Will it continue or at least hold at this level?

[pharvey]

Comment - Keep on going! However, this pesky 50 baht in-the-pound barrier seems to be resilient even though we've nudged through it on occasion.

Unfortunately the pound seems to be dropping against virtually all currencies!

[Pleng]

It's probably exaggerated by the Jubilee.

Seriously, I've noted that the pound usually tends to drop slightly against the baht on Thursday/Friday, Remains low as the markets are closed over the weekend, then starts to crawl back up again Monday/Tuesday. Presumably this is due to some entity somewhere attempting to cover some eventuality. I guess the fact that Monday and Tuesday are both bank holidays (which I totally forgot about, and which have screwed me over in regards to having money transferred in time! - First the Easter Bunny, then the Queen! Who's going to be next to give me grief!!!) means that they might be over-covering whatever it is the eventuality is that they normally cover.

I am absolutely not an expert in any of this. I'm just going by what I see happen in my exchange rate gadget every week!