The rate on the street.

[BigusDicus 9,878]

 

https://www.wsj.com/articles/pound-falls-against-dollar-amid-brexit-fears-11564417029?tesla=y&mod=article_inline

Pound Falls Against Dollar Amid Brexit Fears

Sterling’s sharp drop precipitated in part by new polls showing gains for Conservative Party, say analysts

 

 

A stack of British one pound coins sit on an arrangement of U.S. dollar banknotes. The pound’s latest drop added to the currency’s declines since former Prime Minister Theresa May said she would quit two months ago. PHOTO: JASON ALDEN/BLOOMBERG NEWS

By 

Sam Goldfarb and 

Anna Isaac

July 29, 2019 12:17 pm ET

 

Rising fears about a no-deal Brexit pushed the British pound further downward on Monday, reflecting a shift in tone from the U.K. government under new Prime Minister Boris Johnson.

In recent trading, the pound was down 1.3% against the dollar at $1.2216, on pace for its lowest close since March 2017.

Analysts said the pound’s sharp drop was precipitated in part by new polls that showed gains for the Conservative Party after Mr. Johnson won the race to lead the party last week, replacing former Prime Minister Theresa May.

Some investors and political analysts think Mr. Johnson could call an early election before the U.K. is scheduled to withdraw from the European Union on Oct. 31. Such a move could potentially allow Mr. Johnson to build a majority in Parliament that would support his efforts to leave the EU with or without an agreement that would soften the economic blow of a departure.

WSJ Dollar IndexSource: Dow Jones Market DataAs of July 29, 1:45 p.m. ET

July 16July 19July 24July 2989.5089.7590.0090.2590.5090.7591.0091.25

Though Mr. Johnson has said that he would prefer to reach a deal with the EU, he has also described a previous agreement struck by Mrs. May as unacceptable and signaled that the U.K. must step up preparations for a so-called hard Brexit.

 

 

"Our base case is that there will be an early election,” said Petr Krpata, chief EMEA FX and IR strategist at ING. “Under this situation, sterling will go below $1.18 against the dollar.”

The pound’s latest drop has added to the currency’s declines since Mrs. May said she would quit two months ago, prompting traders to rethink assumptions about Brexit scenarios.

Buoyed in part by the dollar’s gains against the pound, the WSJ Dollar Index, which measures the U.S. currency against a basket of 16 others, was recently up 0.2% at 90.96.

The yield on the benchmark 10-year U.S. Treasury note was 2.067%, according to Tradeweb, compared with 2.081% Friday. Yields fall when bond prices rise.

Write to Sam Goldfarb at sam.goldfarb@wsj.com 

[fforest 2]

[jacko 8,814]

I recall back in June, 2016, several days before the UK's EU referendum, I was in the UK, so my mind wasn't focused on sending money to Thailand. It should have been. The rate then was around 51 baht/£. I simply cannot insert enough banghead emojis into this post to justify how I feel!

[Rawhide2 1,343]

Even lower than Forests screenshot now.....dumped another 20 satang since that was taken.

You can see the Euro hurting badly against the Dollar close to dropping into 33's and Aussies own problem with the Dollar close to the 20's now.....Dollar/Baht is stable (for now) so again its our own currencies weakness against the USD doing the damage

Edited July 30, 2019 by Rawhide2

[Odense 492]

wow thats way higher than it normally is in relation to interbank at locked down weekend rates. Interbank is only 38.15. It wont be 38.03 tomorrow morning if interbank opens the same
Had a look at the weekend rates for Revolut just 37.35 prior to posting. Illiquid currency I know

What IS illiquid currency?


Sendt fra min WAS-LX1 med Tapatalk

[Rawhide2 1,343]

1 hour ago, Odense said:

What IS illiquid currency?


Sendt fra min WAS-LX1 med Tapatalk
 

Revolut decided 2-3 years ago that the Rouble and Thai Baht were illiquid currencies (not subsequently easily converted again) and lowered the rate from Interbank that they offered on all currencies. They have since brought in a whole raft of new rules that make the card virtually worthless except for changing via an ATM £200 per calender month very useful still in eurozones countries....at the moment you get perfect forex rate on that first £200 even better when the local atm machine doesnt have a local charge (like Thailand)

Revolut knock all currencies down at weekends as well these days

[midlifecrisis 4,048]

2 hours ago, Odense said:

What IS illiquid currency?


Sendt fra min WAS-LX1 med Tapatalk
 

That was a new one for me two.

"An exotic currency is a foreign exchange term for a thinly traded currency. Exotic currencies are illiquid, lack market depth and trade at low volumes. Trading an exotic currencies can be expensive, as the bid-ask spread is usually large."

[jacko 8,814]

You will get sub 37 baht/£ if you change money at the bank this morning.

https://www.scb.co.th/en/personal-banking/foreign-exchange-rates.html

 

 

Edited July 31, 2019 by jacko

[fforest 2]

[Rawhide2 1,343]

36.38 Jacko agreed this is simply trip ending (or not even starting) rates and this obession with no deal could well push it lower

Am wondering what the cartel rate is at Suvarnabhumbi currently. Must be 34 something now

Edited July 31, 2019 by Rawhide2

[wacmedia 277]

Hi,

I'm hoping that the £ will bounce back a bit after we leave EU and it turns out OK. Having said that it is a decline that begun long before the Referendum. 

 

https://www.xe.com/currencycharts/?from=GBP&to=THB&view=10Y

[nkped 1,208]

US media keeps talking about the strength of the USD?  Who knows.

[fforest 2]

[fforest 2]

The Australian dollar finally cracked 20 and the Euro cracked 33...The Pound is just a quarter point away from cracking 36....

The Dollar seems to weak but holding firm....

[Kev 178]

Since the US rate cut the Oz dollar increased a little bit but I don't think the short spike will last for long.

[9cisco999 107]

On 7/30/2019 at 5:48 PM, Odense said:

What IS illiquid currency?


Sendt fra min WAS-LX1 med Tapatalk
 

 

Reichsmark?

[jacko 8,814]

1 hour ago, 9cisco999 said:

 

Reichsmark?

Watertmark?

[yselmike 390]

19 hours ago, nkped said:

US media keeps talking about the strength of the USD?  Who knows.

And Trump keeps talking about other currencies being kept artificially low by governments to give their exports an unfair advantage.I see the € has gone under 34 that's me well out the game,it's going to be a long dark winter.

[midlifecrisis 4,048]

9 minutes ago, yselmike said:

And Trump keeps talking about other currencies being kept artificially low by governments to give their exports an unfair advantage.I see the € has gone under 34 that's me well out the game,it's going to be a long dark winter.

Like the low USD?

If the dollar drops under 30 I'm out but will wait until late October just in case of a rebound.

[yselmike 390]

35 minutes ago, midlifecrisis said:

Like the low USD?

If the dollar drops under 30 I'm out but will wait until late October just in case of a rebound.

That's where I am at,October 31 is the day.I have just had a look at the euro-Dong rate and it looks like it's on a slippery slope downwards."Now is the winter of our discontent".

 

[Rawhide2 1,343]

37.09 at TT time of post

[midlifecrisis 4,048]

2 hours ago, yselmike said:

That's where I am at,October 31 is the day.I have just had a look at the euro-Dong rate and it looks like it's on a slippery slope downwards."Now is the winter of our discontent".

 

Made glorious summer by a devaluation of the baht.

 

[Odense 492]

12 hours ago, 9cisco999 said:

 

Reichsmark?

Yes - I would say so. But apparently this British app is calling Thai baht for illiquid. At the moment the British pound seems to be more so IMHO.

[fforest 2]

[Rawhide2 1,343]

9 hours ago, Odense said:

Yes - I would say so. But apparently this British app is calling Thai baht for illiquid. At the moment the British pound seems to be more so IMHO.

What are you on about British app ??  Sterling more illiquid than Thai Baht ??   Dont give up your day job !