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FTSE 100 down 5 per cent over the year in dollar terms


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Old 30-12-2016, 21:27
John146
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Just a question, why are you who lives in California concerned about the FTSE, or for that matter whether Britain leaves or remains in the EU??
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Old 30-12-2016, 21:29
RRL
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The US dollar is a reserve currency,

Sterling I'm afraid is not . Sterling is so volatile and subject to political whims now that it is traded like an emerging market currency. Think pesos.

no one rebases anything against Sterling apart from you and maybe someone at the Daily Express.

Wrong again


https://en.wikipedia.org/wiki/Reserv...Pound_sterling
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Old 30-12-2016, 21:36
MargMck
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You are free to present economic facts of your own up for debate, as opposed to that kind of perfunctory post.

do you accept that FTSE 100 is showing a loss yoy in dollar terms, or indeed in euro terms?

yes or no will do.

(and the less said about FTSE 250 the better for you Brexiters eh)
I'm not interested in you comparing "apples with pears" in this campaign to pile up non-existent 'Brexit misery'.
Even the grudging Guardian says:
The more domestically focused FTSE 250 also rose during the year, but by a much less impressive 3.71%.
Despite fears that the Brexit vote would have serious repercussions, the FTSE 100 was the best-performing European market, as continuing worries about the eurozone, banking problems in Italy and the prospect of elections in Germany and France next year limited gains.
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Old 30-12-2016, 21:36
tahiti
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show me any company outside the UK that chooses Sterling as an accounting currency ??

even the UK bank I used to work for had USD as its accounting currency !

as the article says the only reason for some central banks (no one else) to hold Sterling is because 1) the UK is in the EU and 2) it delivers a higher rate than the euro.
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Old 30-12-2016, 21:41
tahiti
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I'm not interested in you comparing "apples with pears" in this campaign to pile up non-existent 'Brexit misery'.
Even the grudging Guardian says:
The more domestically focused FTSE 250 also rose during the year, but by a much less impressive 3.71%.
Despite fears that the Brexit vote would have serious repercussions, the FTSE 100 was the best-performing European market, as continuing worries about the eurozone, banking problems in Italy and the prospect of elections in Germany and France next year limited gains.
The point is that both of these rises are as illusory as those of the Venezuelan stock market !

who do you think we are ? Harold 'pound in your pocket' Wilson ?

why are you so reluctant to submit to international comparisons ?
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Old 30-12-2016, 21:47
MargMck
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The point is that both of these rises are as illusory as those of the Venezuelan stock market !

who do you think we are ? Harold 'pound in your pocket' Wilson ?

why are you so reluctant to submit to international comparisons ?
Not reluctant at all. But we are know what goes on here. Within a positive report, say from the Guardian, there will be all the positive news and a probably sensible note of caution. What than happens is that posters such as yourself cherrypick out this one point, ignore all the other presented data, write a More Hyped Up Hysterical Doom thread title, and away we go.
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Old 30-12-2016, 21:50
RRL
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show me any company outside the UK that chooses Sterling as an accounting currency ??

even the UK bank I used to work for had USD as its accounting currency !

as the article says the only reason for some central banks (no one else) to hold Sterling is because 1) the UK is in the EU and 2) it delivers a higher rate than the euro.
You made a statement that was wrong. I proved your error, case closed.
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Old 30-12-2016, 22:08
LostFool
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The point is that both of these rises are as illusory as those of the Venezuelan stock market !
They aren't illusory at all. I've just cashed in some good gains from fund rises in 2016 which will help pay for a new car.
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Old 30-12-2016, 22:21
tahiti
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They aren't illusory at all. I've just cashed in some good gains from fund rises in 2016 which will help pay for a new car.
well good for you. you might have been slightly less pleased had you decided on purchasing a foreign asset instead though

but we all know devaluation has always been much more politically acceptable a means of preventing capital flight than government -decreed capital controls.
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Old 30-12-2016, 23:07
The infidel
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The main thing is that the £ is now at a really good level to make our exports more competitive.
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Old 31-12-2016, 05:39
tahiti
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The main thing is that the £ is now at a really good level to make our exports more competitive.
so why was there no rise in exports recorded since the devaluation ?
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Old 31-12-2016, 09:48
LostFool
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The main thing is that the £ is now at a really good level to make our exports more competitive.
Yet as the Leave campaign kept telling us during the referendum, the vast majority of businesses don't export so they will have to cope with more expensive imports and we will all bit hit by higher prices for petrol and fuel which are traded in dollars.
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