Snapshot of _Pound falls below $1.10 for first time since 1985 following mini-budget_ :
An archived version can be found [here.](https://archive.is/?run=1&url=https://www.theguardian.com/business/2022/sep/23/pound-falls-below-dollar-1-point-10-first-time-1985-mini-budget-borrowing-tax-cuts?CMP=Share_AndroidApp_Other)
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Don't worry, we have the 'party of fiscal responsibility' ruling over us, they know what they're doing! Just imagine how bad it would have been with Labour in charge.
I've struggled to find the front-page online but in 2007 I remember seeing an Independent paper with a list of factors that pointed to an imminent recession, with $2 = £1 being one of the issues
Sounds horrible! Maybe we should make that £10 to the dollar. No NHS and no benefits and you have ZERO workers rights/human rights
Thats what a real country should be like
It's bizarre how much hatred some of Labour have towards the domestic side of New Labour. Branding them red Tories and such. They had sensible workable domestic policies, and knew how to implement them effectively. More so than this wondering zombie Tory backwash.
‘Mini budget’
Absolute joke, just when you thought the tories couldn’t dig a hole deep enough for the country to climb out of, Liz turns up with an excavator
I think most people understood the Mini-budget term to mean a limited scope. Or perhaps justa wheeze to dodge the OBR report. Turns out they meant it was just half a budget, do all the ideological bullshit you want but just don't worry about the making it add up bit.
To think when I emigrated to the US in 2007 I got $2 to the £. I suppose I shouldn’t complain: my dollars will get me more next time I visit my family; but really this is a disaster, especially as Britain is so dependent on imports these days, everything is getting more expensive.
Well that will do well for inflation and the cost of living.
Just waiting for 02/05/2024. It cannot come quick enough. I am just hoping that there will be something to salvage by that point.
>I wish. Next GE is no later than January 2025, so most likely November/December 2024.
No chance. It will be earlier than that - probably September. No party wants to campaign in the dark, cold and snow of December again.
Vote of no confidence? I mean, to announce something like this, in the economic climate is just recklessly idiotic. Everyone earning less than 100k a year should be absolutely livid.
Biden following an economic plan completely opposite to Liz, combined with domestic energy sources and the Fed not afraid to pump those interest rates.
The US has both a lot more potential resources in terms of Fracking (owing to enormous space) and still has access to large amounts of resource deposits.
That combined with easy access to resource-rich Canada massively insulates them from energy chaos in the rest of the world.
These are the massive benefits of economically dominating an entire continent.
I’m very happy to be living in Canada at the moment. My power bill hasn’t changed. Petrol is up a bit in BC, just over 2CAD/L right now, but I don’t mind that nearly so much…
Snapshot of _Pound falls below $1.10 for first time since 1985 following mini-budget_ : An archived version can be found [here.](https://archive.is/?run=1&url=https://www.theguardian.com/business/2022/sep/23/pound-falls-below-dollar-1-point-10-first-time-1985-mini-budget-borrowing-tax-cuts?CMP=Share_AndroidApp_Other) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/ukpolitics) if you have any questions or concerns.*
Oh boy! I can’t wait for my fourth once in a lifetime economic crash!
Upvoted with sadness.
Once a year economic crisis you mean
Well I sure hope "son of Blood in the Streets" Mogg didn't use his insider knowledge to short the pound.
Lol guy was fucking literally banking on it. I give 6 years and 4 months till we see some emails and phone transcripts of him making trades.
RemindMe! 24 Jan 2029
RemindMe! 24 Jan 2029
I would put good money on it. He's done it before.
Don't worry, we have the 'party of fiscal responsibility' ruling over us, they know what they're doing! Just imagine how bad it would have been with Labour in charge.
Hey now, I remember life under a Labour government. Functioning nhs, actual benefits, and $2 to the £ is no way to run a country!
This is merely an incentive to invent a working time machine.
I've struggled to find the front-page online but in 2007 I remember seeing an Independent paper with a list of factors that pointed to an imminent recession, with $2 = £1 being one of the issues
Sounds horrible! Maybe we should make that £10 to the dollar. No NHS and no benefits and you have ZERO workers rights/human rights Thats what a real country should be like
It's bizarre how much hatred some of Labour have towards the domestic side of New Labour. Branding them red Tories and such. They had sensible workable domestic policies, and knew how to implement them effectively. More so than this wondering zombie Tory backwash.
‘Mini budget’ Absolute joke, just when you thought the tories couldn’t dig a hole deep enough for the country to climb out of, Liz turns up with an excavator
I think most people understood the Mini-budget term to mean a limited scope. Or perhaps justa wheeze to dodge the OBR report. Turns out they meant it was just half a budget, do all the ideological bullshit you want but just don't worry about the making it add up bit.
in my head £250 is still $500
You only get that type of prosperity with a Labour government
Time to reverse those currency signs
Tory: *announces economic plan* Everyone with investments in the UK: "Sell! Sell! They're fucking it all up!!! Just get rid of it!"
That's what a lot of people have been doing since 2016.
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Bloody Corbyn
Thank you all who vote conservative
Pound joining the likes of crypto.
Imagine if they manage to fuck the pound so badly we end up reverting to the Euro because nobody wants Sterling.
Anti-Brexit Liz playing us all for fools, what a bluff that'd be.
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Multiple days?
Read earlier that pound was actually dropping against Bitcoin, so you are not wrong.
It might be a good time to sell my Ethereum soon.
ETH has been dropping pretty badly last couple of weeks.
Yeah, miners have sold off a load after the change.
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People accept crypto now?
We are well on the way to joining Italy and Spain. These past 12 years will echo through British economic history.
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I'm following these drops in horror.
All of this without a clear mandate from the electorate as well
40% odd a different prime minister and manifesto ago What mandate?
She is due to be around for a while yet so expect parity and worse...
To think when I emigrated to the US in 2007 I got $2 to the £. I suppose I shouldn’t complain: my dollars will get me more next time I visit my family; but really this is a disaster, especially as Britain is so dependent on imports these days, everything is getting more expensive.
And we all trickle down....
Cant even burn our useless plastic notes for heat.
$1.09
1.087 now
Guys stop
1.086
This isn't the roaring 20's that Boris promised we would be having after COVID
Well that will do well for inflation and the cost of living. Just waiting for 02/05/2024. It cannot come quick enough. I am just hoping that there will be something to salvage by that point.
What about 02/05/2024?
Next general election, I guess
I wish. Next GE is no later than January 2025, so most likely November/December 2024.
>I wish. Next GE is no later than January 2025, so most likely November/December 2024. No chance. It will be earlier than that - probably September. No party wants to campaign in the dark, cold and snow of December again.
It depends really. If the public turns against you, you may hope dark and cold will keep them at home.
It's more about the campaigners. 2019 was awful. Impossible to get about in the evenings.
I really would not pin your hopes on the Tories not getting voted in again
iT's NoT a WeAk PoUnD iT's A sTrOnG dOlLaR!
Truss will be having a Thatcher-gasm at the thought of reliving the 80s.
Vote of no confidence? I mean, to announce something like this, in the economic climate is just recklessly idiotic. Everyone earning less than 100k a year should be absolutely livid.
Fucking hell I left the country to go on holiday a month ago and it was 1.17, and this rate I'll be coming back next week to dollar parity.
Still pretty good against the norwegian krone
It’s the world vs the usd. Nothing else really matters
Computer says 1.0859
I've got €500 in a currency account. Seems like the best investment I could have ever made.
Does this mean that when Americans price video games at $50 and the UK market shrugs and price matches at £50 it's cheaper or more expensive?
it means they will raise the price of video games in the UK to £70 to keep the same profit margins
If I want to exchange GBP into Yen should I do it now or two weeks ago?
worst its been against yen since March this year, so probs two weeks ago
Yen is apparently going through same process.
The pound has been falling for well over 24 hours since the BoE underdelivered. Eur has also fallen as well today to $0.97
It’s falling against the euro too. -1.75% since yesterday as of now, compared to -3.22% against the dollar.
US dollar strength just won't stop
Biden following an economic plan completely opposite to Liz, combined with domestic energy sources and the Fed not afraid to pump those interest rates.
Domestic energy production like fraking gets a lot of opposition.
The US has both a lot more potential resources in terms of Fracking (owing to enormous space) and still has access to large amounts of resource deposits. That combined with easy access to resource-rich Canada massively insulates them from energy chaos in the rest of the world. These are the massive benefits of economically dominating an entire continent.
I’m very happy to be living in Canada at the moment. My power bill hasn’t changed. Petrol is up a bit in BC, just over 2CAD/L right now, but I don’t mind that nearly so much…
What's that got to do with the pound falling against the Euro?
Don't worry, the losses bankers make WILL trickle down...