Kibkom North Cyprus Forum

Pound down against most other currencies after last nights results but up against the Lira for some reason,... when other currencies gain against the £ then the Lira always seems to lose strength

Was there an election in the UK last night ? It would be hard to tell if all you were looking at was this forum. Am somewhat stunned at the seeming dearth of any comment here yet on what has to have been one of the most surprising UK elections in my lifetime.

Where is Waz when you need him ? ....lol

erol wrote:.... on what has to have been one of the most surprising UK elections in my lifetime.

Perhaps both sides have been stunned into silence by the unbelievably good/bad (take your pick! ) results.....

David
I think you will find that the £ has depreciated against the TL just look in the directory above.

Where ? ... looking on BBC financial news and whilst most currencies are typically down by -2.5% the lira is +0.94%

David wrote:Where ? ... looking on BBC financial news and whilst most currencies are typically down by -2.5% the lira is +0.94%

I think that Gill meant on the Forum Directory (there's a link 'above', near the top of your screen, as she said)...

Anyway, it's here - and I agree with her, yesterday the rate was 4.60 TL to the £, and today it's 4.49 TL to the £, so I don't know why you think that the value of the £ has gone up against the Lira...

David wrote:Pound down against most other currencies after last nights results ....

Similar to what happened after the Brexit vote, just about one order of magnitude less decline this time than then

Erol, I think most of us have been somewhat stunned into silence. Hung Parliaments do no-one any good and the financial section loathes indecision. As for Corbyn, all I can say is that man has supped with the devil for decades and he will relish the fact that Sinn Fein have gained seats, although of course they don't take them up. He and Gerry Adams can swap stories with their equally evil pals.

Keith, Am looking on BBC text where it gives all currencies and their daily movement .... Text- News index-Business&Markets- Currencies

sophie wrote: Hung Parliaments do no-one any good and the financial section loathes indecision. As for Corbyn, all I can say is that man has supped with the devil for decades and he will relish the fact that Sinn Fein have gained seats, although of course they don't take them up. He and Gerry Adams can swap stories with their equally evil pals.

As far as the hung parliament result has put paid to Tory plans to re write, amend and scrap 40 years of UK legislation in a single term and outside of all normal parliamentary process ('great' reform bill white paper), I personally think the result has done the UK a massive 'good'

Markets do indeed loathe indecision and uncertainty, which is why I felt it worth mentioning that so far the negative impact on Sterling of this election (a massive political miscalculation by Tories / May) has been about one tenth of the negative impact there was on sterling as a result of the Brexit result (a massive political miscalculation by Tories / Cameron).

As for Corbyn links to IRA / Sinn Fein, we now have Teresa May in power via the support of the DUP, which lets not be coy about it, has links to terrorist groups just as 'evil' as Sinn Fein do. People like this former leader of the DUP, Peter Robinson.
So whilst JC may be 'happy' to see Sein Fein increase their seats in this election, TM must be even more 'over the moon' that the DUP increased theirs, given that she is not just willing to sup with them but to grant them massive political power, disproportionate to their size and political support, in order to try and save her own political skin or as she no doubt would have it 'provide stability' in the face of the instability that she created her self in the first place.

Supping with the devil with the object and hope of finding a peaceful settlement seems a lot more justifiable to me than doing so for the sake of self interest and political expediency ? Or have I got that wrong Sophie ?

David wrote:Keith, Am looking on BBC text where it gives all currencies and their daily movement .... Text- News index-Business&Markets- Currencies

David, I don't understand what you mean by 'BBC text' - is it on the internet? If so, could you give me a link to the website please?

There is no doubt that the pound did weaken from 4.60 to about 4.50 overnight.

Excellent post Erol, and so very very true. The DUP supported by the Red Hand Commandos, the UDA et al now going to share in the British Government!!!! Disgraceful.

Erol, I'm sure that you absorbed the information conveyed by those graphs at a glance, but for those amongst us who are not quite so able (e.g. me ), could you give a brief explanation of what you understand them to be conveying?

Thanks in advance!

Keithcaley wrote:Erol, I'm sure that you absorbed the information conveyed by those graphs at a glance, but for those amongst us who are not quite so able (e.g. me ), could you give a brief explanation of what you understand them to be conveying?

Thanks in advance!

I posted no comment because I thought they would speak for themselves. Anyway I am no currency expert but seems to me that they clearly show that in the 24 hours covering just before the announcement of the election exit poll on wards, the impact of that poll and then subsequent actual result coming in on the rate between Sterling and TL, Sterling and the Euro and Sterling and the USD where pretty much identical. Or to put it the other way round I can not see any indication that how Sterling fared vs the TL was any different to how it fared vs the Euro or Dollar.

Can we talk about the election now ?

Thanks Erol!

I just wasn't sure whether I was supposed to be looking for something fairly subtle

You go ahead and talk about the election - politics leaves me cold, but our mutual friend joesoap will be happy to talk about it until your ears bleed

Keith, I am in the uk and i look on BBC tv and their text service, ... Text - news index- business&news- currencies

David wrote:Keith, I am in the uk and i look on BBC tv and their text service, ... Text - news index- business&news- currencies

Right, you're talking about 'Teletext' then!

Not a lot of use to us out here, I'm afraid

However if you look at Yahoo finance (or the graphs that erol has provided) you'll see that Sterling fell slightly against the Turkish Lira over the couple of days influenced by the election, rather than increased in value...

Best regards, Keith.

If you look at the historical ups and downs of sterling against currencies you will see that in fact any country having a general election will have a fluctuation in the relative value of their currency - it's what the money men do. So it's no surprise that the spivs take the opportunity to make a fast buck - is it?

Much as i dislike the fact of the Tories going hand in hand with the DUP I do not know what the alternative was TBH. Wee Jimmy Crankie? The Lib Dems refused to step up. Another election?

This had a massive turn out compared with previous elections a lot of which were people who had not voted before and were on the Corbyn free anything you want bandwagon. Same people who have never lived through the strikes that ruined this country, the winter of discontent, trafalgar square being used as land fill, inflation in the high 20% region etc etc There was criticism of the Tory Manifesto however non for the labour one apart from dismissive comments from all about the arithmetic which would have made us look less prosperous than Greece in 5 years and the austerity to follow would make the current one look like a thrift club.

I am just glad the Labour Party and that idiot Corbyn did not win...yes you read that right they DID NOT WIN.

Oh and glad to see the poisonous dwarf north of the border had her wings clipped too.

Jonnie wrote:Much as i dislike the fact of the Tories going hand in hand with the DUP I do not know what the alternative was TBH.

To my mind answering that question requires asking what the objective really is. If the objective is how can the Tories, in light of the election result, seek to maintain its hold on power and singular control over Brexit negotiations, then indeed there was little alternative than to trade giving massive disproportionate power to the DUP in exchange for protection against any possible vote of no confidence and by extension undermining the UK governments ability to act as a 'honest broker' between the various parties within NI.

If however the objective is how can the Tories, in light of the election result, sincerely seek to do what is best for the country as a whole and respect the will of the British people, then I think there were and still are valid potential alternatives that should be explored.

I think Teresa May in effect asked the British electorate for the closest thing to a 'blank cheque' with regards to the Brexit negotiations and with regard to British domestic policy and I think the British electorate responded, correctly and wisely, with a resounding refusal to give her and the Tories this power and trust. For me the sheer haste with which TM sought to jump in to bed with the DUP was and is little more than an effort to pretend that nothing had changed and that the British electorate effectively said nothing with their vote last Thursday.

I see no reason why, other than the personality and character of TM, the Tories, in light of this election result, could not at least try and reach out to all the other parties and say, the British people have shown clearly that they do not want a single party or indeed a single faction within a single party to alone decide on the nature of our exit from the EU, something that will affect everyone in the UK literally for generations to come. Let us therefore do our best to respect the will of the British people and come together to thrash out an agreed UK wide position and strategy with regard to the exit negations, that would allow the UK to negotiate with the real strength of a UK wide consensus and support behind them. This will not be easy, it will require compromise from all but it is what the British people have told us to do and thus we have to try our best to achieve this and respect their wishes and will. In return it would be agreed that all the UK parties will not seek or force a vote of no confidence until Brexit negotiations are concluded and the UK leaves the EU, at which point a new General election will be held. Just to note, this kind of approach was suggested by Armando Iannucci on question time recently.

I think there is a genuine consensus in the UK that however marginally we did vote to leave the EU and we do want our politicians to 'get on with it' but also that we understand that there is a massive spectrum in the range of ways we can exit the EU, from a 'no deal' wto rules exit, to an exit that retains our participation in and access to the single market. I think the British people want and have shown through this election result that we now want our politicians to work together across party and ideological lines in a genuine spirit of putting the country first to come to a common agreed objective and strategy for achieving it. Yes such an approach will leave both the 'extreme' Brexit and the extreme 'remain' voice screaming in discontent but I sincerely believe such an approach offers the highest chance for the best possible out come in the genuine national interest.

Jonnie wrote:Wee Jimmy Crankie? ... that idiot Corbyn .... poisonous dwarf north of the border

I may be wrong but I would also like to believe that to some real material degree, this election result represented a rejection of the kind of personalised 'vilification politics' that the above quotes are typical off and that has become so normalised and common in our politics today. I think we are better than this.

erol wrote:I may be wrong but I would also like to believe that to some real material degree, this election result represented a rejection of the kind of personalised 'vilification politics' that the above quotes are typical off and that has become so normalised and common in our politics today. I think we are better than this.

I think you are hoping in vain - if you believe that MP's et all are going to stop personalising whenever they feel inclined just look at the personal attacks on the PM now....

Erol..I. think Teresa May in effect asked the British electorate for the closest thing to a 'blank cheque' with regards to the Brexit negotiations and with regard to British domestic policy and I think the British electorate responded, correctly and wisely, with a resounding refusal to give her and the Tories this power and trust. For me the sheer haste with which TM sought to jump in to bed with the DUP was and is little more than an effort to pretend that nothing had changed and that the British electorate effectively said nothing with their vote last Thursday.


I'm not sure Brexit played a big part in the election despite Mrs May's best efforts, once the manifesto's were released. The two main pro EU parties Lib Dems /SNP didn't do well.
Labour are quick to criticise the Tories stance on EU migrants rights currently in the UK, but are silent on the EU's stance regarding UK subjects rights in the EU.
The EU's stance before negotiations start regarding The Single Market and Customs Union is we must accept Free Movement and all the other regulations hence Mrs May's out means out rhetoric , not sure what we would gain going into negotiations saying we want access no matter what the term's.
I see no evidence that the EU is looking for a friendly partnership or special deal with the UK.

always the problem with having such discussions over more than one thread. Please do have a look at my posts here http://www.kibkomnorthcyprusforum.com/v ... 60#p183860 when you get a chance kerry