chiangmai
Crazy Mango Extraordinaire
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Post by chiangmai on Oct 11, 2021 12:43:36 GMT 7
Markets are betting that the Pound is going to fall, supply change woes and stagflation being the main reasons. Question is, will it fall faster than THB with its damp squib tourist season approaching: "Investors are betting more heavily on a slump in the pound than at any time since the lockdown last winter, as stagflation fears stalk the currency. Trades aimed at insuring against a sterling plunge against the dollar have jumped sharply in the last two weeks, with bearish bets hitting their highest level since March. Sterling has come under significant pressure in recent weeks, despite a growing expectation that the Bank of England will raise rates three times in the next year to bring inflation under control. Fears of stagflation - where prices and wages rise but economic growth remains sluggish - have been worsened by petrol shortages, and currency traders are growing nervous of a Bank of England misstep Even Andrew Bailey, the Governor, told the Yorkshire Post on Saturday that the Bank would have to prevent higher inflation from embedding itself in the system and warned that prices are likely to keep rising". The eagle eyed amongst us will have spotted of course that interest rate hikes usually favor currency strength which should offset the current weakening, but that of course will hurt the GBP/THB rate. www.telegraph.co.uk/business/2021/10/11/bets-mount-against-pound-supply-chain-crisis-intensifies/
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AyG
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Post by AyG on Oct 11, 2021 17:02:55 GMT 7
^^^ Chiangmai, how many websites with paywalls do you pay to access? It seems like quite a few.
As for FX rate, I initiated a transfer with Wise (formerly Transferwise) a few hours ago. The GBP/THB rate was 46.12, which I think is the best in quite a few years. Not complaining.
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chiangmai
Crazy Mango Extraordinaire
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Post by chiangmai on Oct 11, 2021 17:08:54 GMT 7
^^^ Chiangmai, how many websites with paywalls do you pay to access? It seems like quite a few. As for FX rate, I initiated a transfer with Wise (formerly Transferwise) a few hours ago. The GBP/THB rate was 46.12, which I think is the best in quite a few years. Not complaining. I do not pay a single subscription to any newspapers, online or off. I do get free access to the Telegraph because they tried to screw me over and I caught them at it!! I am considering taking out subscriptions however to Bloomberg and the NY Times, it's 25 cents per week for a year which is pricey but I might just stretch to it. Well done on the FX rate, I'm contemplating doing the same this week although I don't use Wise. I use HSBC which costs 4 Pounds plus the receiving fees (to send Pounds) on this end which hopefully will be reimbursed by UOB via a negotiated rate.
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Post by rgs2001uk on Oct 11, 2021 20:49:38 GMT 7
^^^ Chiangmai, how many websites with paywalls do you pay to access? It seems like quite a few. As for FX rate, I initiated a transfer with Wise (formerly Transferwise) a few hours ago. The GBP/THB rate was 46.12, which I think is the best in quite a few years. Not complaining. Good lawd man, dont you value your life, posting alarming news like that, the remoaners were predicting we would all be home for christmas and 25 baht to the pommie ruppee. For the record, I cashed my chips in at 43 about six months back, and I aint losing any sleep over it, best of luck to anyone who gets or can get better. Just done a quick back of a fag pack calculation, if I had waited my car would have been 2000 quid cheaper, cest la vie.
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chiangmai
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Post by chiangmai on Oct 12, 2021 11:27:25 GMT 7
Todays BP reports that THB surged on news of the country opening up once again to tourists, AyG had good timing, today's BB rate is 45.03.
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chiangmai
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Post by chiangmai on Nov 5, 2021 7:23:20 GMT 7
Not Sterling related but interesting nevertheless: "Unprecedented trade surpluses and record inflows into its bond market are giving China a stockpile of dollars unseen since the days when the ‘Asian savings glut’ was blamed for keeping U.S. interest rates excessively low and fueling the sub-prime mortgage crisis. Foreign currency bank deposits are just shy of a record $1 trillion while the trade surplus in the first nine months of this year hit about $440 billion compared with the 2015-2019 average of $336 billion and 2020’s $325 billion, according to Morgan Stanley estimates. But unlike then, when China aggressively recycled its dollar holdings into U.S. Treasuries, China’s giant pile of foreign exchange reserves are holding broadly stable. That means the dollars are being funneled somewhere else, but exactly where is proving to be a bit of a mystery". www.bloomberg.com/news/articles/2021-11-04/mystery-of-china-s-huge-dollar-surplus-baffles-global-markets?srnd=premium-asia
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chiangmai
Crazy Mango Extraordinaire
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Sterling
Jun 23, 2022 11:26:46 GMT 7
via mobile
Post by chiangmai on Jun 23, 2022 11:26:46 GMT 7
It appears the bet on sterling loosing value was a solid one and then some.
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Post by rgs2001uk on Jun 24, 2022 19:44:36 GMT 7
It appears the bet on sterling loosing value was a solid one and then some. Too cryptic for me.
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chiangmai
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Post by chiangmai on Jun 24, 2022 21:10:43 GMT 7
It appears the bet on sterling loosing value was a solid one and then some. Too cryptic for me. See the first post above.
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