Ipswich Star Bank Predicts The Pound Will Be Worth The Same As The Euro By Early Next Year

Discussion in 'Ipswich News' started by newsbot, Aug 12, 2017.

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  1. newsbot

    newsbotMember

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    British holidaymakers should brace themselves for more Brexit pain when they change their pounds into euros, after Morgan Stanley forecast the currencies are on the way to parity.

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  3. dan5

    dan5Founder MemberStaff Member

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    Funny enough, if we had given in to the EU and not opted out of joining the Euro, we would have had a currency equal to the euro as we would have gave up our pounds sterling for the euro!

    Just depends which way you want to look at it.

    Far from ideal... but let us not forget pay freezes and austerity measures which was the fallout of a combination of government mass-borrowing (overspending) and consequences of the last recession.

    Mixed confidence is a problem at the moment. The press reporting on currency variations has made it a bigger problem than needs be. Currency exchange rates (like stock prices) always vary constantly... it is true around the referendum in particular there was significant fluctuations (which was expected)... but any holidaymaker or someone doing international exchanges are aware of the prices don't stay the same. I have done foreign currency, people check the prices daily up to weeks before they go away to get the best rate. I have waited in the past to do online USD transactions to get a better rate.

    I am still not sold on the Brexit-Apocalypse scaremongering. I still think as a country we are suffering from the last recession without making a proper recovery (especially in places like Ipswich), but more to the point, the austerity and constantly cost-cutting, by government and big businesses alike, has made the pre-Brexit impact much more severe than it needed to be. You can bet a lot of job losses are coming before the same businesses will start recruiting again in a few years time, on a large scale.
     

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