Pound Sterling

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.

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Which is great for the economy in terms of boosting exports and internal production as opposed to the reliance on external importation :slight_smile:

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Once there is a deal that everyone has agreed to it’ll improve. Until then…

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Where are we getting the raw materials from though?

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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 :sweat_smile:

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Off topic but the people rolling down and the hill in that meme looks like the Cooper’s Hill Cheese Rolling event :joy:

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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%.

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10-11% increase in food bill :point_up:

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

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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! :de: 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 :wink::money_with_wings:

Back to the original topic! Lows, highs, we will always fight back, that is the power of the GBP £ :uk:

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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 :nauseated_face:

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