GBP.USD
FXB
Our (pound sterling) purchasing power is diminishing faster than many major fiat currencies.
Gone are the days when…
£1.00 would buy you 2.5 Aussie dollars, 2 US Dollars, 1.50 Euros and 2.5 Canadian dollars.
GBP.USD
FXB
Our (pound sterling) purchasing power is diminishing faster than many major fiat currencies.
Gone are the days when…
£1.00 would buy you 2.5 Aussie dollars, 2 US Dollars, 1.50 Euros and 2.5 Canadian dollars.
Which is great for the economy in terms of boosting exports and internal production as opposed to the reliance on external importation
Once there is a deal that everyone has agreed to it’ll improve. Until then…
Where are we getting the raw materials from though?
Not arguing against that, but the premium markup on produced goods outweighs the initial cost on average (we’d hope the economy is rational!).
Moreover, since the UK economy is services-oriented (~70%), increased affordability of those by the overseas consumers benefits the UK without caveats, unlike in the case with manufacturing
Off topic but the people rolling down and the hill in that meme looks like the Cooper’s Hill Cheese Rolling event
Long term chart of cable GBP/USD. We’re about to retest that 30 year low again now that Bojo is leading the leadership race. I hope it does a higher low or double bottom from here or we can expect our grocery bills to rise 10-15%.
10-11% increase in food bill
My mum was just saying yesterday how much her Tesco shop had gone up this year. Even the Tesco delivery driver said he’d started going to Lidl instead
I have been shopping in Aldi for years. It has halved my shopping bill through cheaper products and less of the well placed half price pringles! I would recommend Aldi and Lidl to anyone. If you haven’t tried it, give it a go for one week and make your own mind up
Back to the original topic! Lows, highs, we will always fight back, that is the power of the GBP £
I really hope for the pound to recover against the dollar from a purely selfish perspective. My wife’s USD student loan payments are now 26% more expensive than 5 years ago in currency fluctuation alone