Strength of GBP against USD and Euro

I’m not sure anyone else has been keeping an eye on the exchange rates, but has anyone else noticed how much the Pound has recovered against both the USD and Euro?

Currently trading against the USD at $1.40 and 1.16 against the Euro. Significant increases since the start of 2021.

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From the reading I’ve done it seems as it’s due to our aggressive vaccine rollout paired with corroboration from Israel that even a single dose will provide significant protection to allow us to reopen the economy

As a result, investors flock to the 5th biggest economy to reap rewards as we get a jump on every other major world economy

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Makes sense!

We may be the only major economy open for business this summer if the current trends continue.

The US is hot on our heels with the vaccine rollout though, so I would expect them to follow.

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Yeah, well, let’s see how this pans out :thinking:

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Yikes!

Not good by the sounds of it.

It appears to me as though the Texan State officials think they are invincible. Well let’s see how many people get sick and die. They might be lucky, spin that wheel of fortune eh?

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Think there’s a couple of things a play re: Texas. The first is a wider problem of the pandemic having been politicised - even more than it has been here.

The second is the ‘Texas mentality’, that seems to afflict some of the state’s political types. Texas knows best, even when it doesn’t - its a form of exeptionalism.

This is one example of it, another would be their electricity grid. Texas being the only (mainland) state where the grid has been specially designed not to cross any state line and so escapes any form of federal regulation or control coming from out-of-state.

The recent electricity outages there stem from the state’s grid not being sufficiently insulated for wet and wintery conditions. These storms happen every decade or so and every decade the federal regulators beg the state to winterise - they can’t force them to however, because the state has energy independence… and so people die when it snows there.

Sad, but that’s Texan politics and it ain’t changing anytime soon.

Back on topic, though, good to see us getting more Dollars to the Pound. Shame none of us can get over there and benefit from it on holiday right now. Good for buying stuff like software online too.

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Bad news for me. I get paid in USD.

I just renewed my annual YNAB subscription (was not due until July) by contacting their support. All sorted until July 2022 now, and it has saved me nearly £7 since last time.

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Pleased to see the fearmongering over Brexit has largely evaporated now, and the markets are rebounding in the UK’s favour.

This is our moment. Let’s sort out our regs (get rid of the EU financial regs, GDPR etc - they’re a mess), and let’s get those free ports open.

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GDPR is worth keeping, purely for the ease of doing business with the EU, plus Brazil and other markets have adopted similar legislation (the US will also probably do so during Biden’s term)

No need to make the UK’s exit a race to the bottom in standards. Britain has always been about high quality services, goods and respect for people

In agreement with the rest of your post, we should be scrapping a lot and aiming to compete with NY/Tokyo rather than the EU. It’ll push a lot of European business to us, especially if we get a mass amounts of trade deals (esp if it’s with countries the EU has no relationship with yet. We can get good terms with a ratchet clause that will adopt to any better deals made + can capture market before the EU has a chance)

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Absolutely, we can keep things that make sense and tweak things that don’t. There’s no point diverging from the EU for the sake of it, obviously, but there are a few areas where it makes sense to do so.

Raising the contactless limit was one, given that we have greater use of cards in this country - it wasn’t a priority in the EU as most member states there are more reliant on cash. This is the sort of sensible change we can now make immediately but would have had to lobby for before which would have taken years.

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2 posts were split to a new topic: Is the GDPR worth keeping, post-Brexit?

C’mon guys. You know the drill.
Political stuff is fair game in the politics area, but this thread is not in the politics area …

Please spare a thought for those that want to talk about fintech and finance.

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