HeartThais Posted April 20, 2009 Report Share Posted April 20, 2009 Sterling is still being driven primarily by bank performance. The big banking news last week was the *fantastic* earnings reports coming from Wells Fargo (best quarter earnings ever!), Goldman, JP Morgan and even Citi. But after having taken a second look at the numbers, people are suspicious. For example, Goldman's results included an accounting change that completely ignores the month of December (a bad month for them). Also, news came out today that bank lending is worse than previously thought. http://online.wsj.com/article/SB124019360346233883.html#mod=testMod Add to that, these types of "temporary" political turmoils is exactly the kinds of situations where the BOT steps in to stabilize baht (mostly against USD, it seems) in a big way. Link to comment Share on other sites More sharing options...
simie Posted April 20, 2009 Report Share Posted April 20, 2009 Faustian, I must have missed the good news when I was reading about record levels of government debt and rocketing unemployment?! Simie. Link to comment Share on other sites More sharing options...
Faustian Posted April 21, 2009 Report Share Posted April 21, 2009 Indeed you did, everything is going to be just great! Soon we will all be millionaires! Oh, sorry, that was a dream I had. The UK is in shit, but the shit isn't going to get much worse, as we're told we have hit rock bottom....so happy times are just around the corner....but which corner.....? Link to comment Share on other sites More sharing options...
cavanami Posted April 22, 2009 Report Share Posted April 22, 2009 ...how do "they" define "happy" and happy for who??? Link to comment Share on other sites More sharing options...
Sakai Posted April 22, 2009 Report Share Posted April 22, 2009 Thailand economy is not in good shape, Thailand political problems do not help, tourism sector is hit and the downgrading of the baht's credentials from "A" to "A-" by Standard&Poor certainly did not help, all in all, there are no positive factors. The Baht should be going down against most major currencies but no. My question is the following, why the Baht remains strong against other currencies? Who has an interest in Thailand to keep the baht strong? Link to comment Share on other sites More sharing options...
ThaiHome Posted April 22, 2009 Report Share Posted April 22, 2009 The baht is at it's lowest against the USD in some 2 years, having lost about 20%. The problem for non - USD based people is that over the past year, the dollar has gone up against almost all other currencies. The value of the THB against other currencies is based on their value of the USD (as the market is so small), so therefore it has not weakened against them (and in some cases strengthened) as it has against the USD. TH Link to comment Share on other sites More sharing options...
Faustian Posted May 27, 2009 Report Share Posted May 27, 2009 The Pound hit 55 Baht today! First time in a long time...bizarrely it is strengthening all over the shop. Cool. Link to comment Share on other sites More sharing options...
Sakai Posted May 29, 2009 Report Share Posted May 29, 2009 Been playing a bit with FX this morning, incredible movments for both pounds and euro against the USD. I suppose this will not continue during the evening but the increase was really outstanding. Link to comment Share on other sites More sharing options...
Faustian Posted May 29, 2009 Report Share Posted May 29, 2009 Well the UK economy is showing some signs of recovery, so the Pound should be going up. House prices in the UK went up in May! Link to comment Share on other sites More sharing options...
Sakai Posted May 29, 2009 Report Share Posted May 29, 2009 Some signs but only some fomr what the times, guardians and BBC say. Yep, pound is going and no matter the reason I am glad for my British fellows (proof that all Brits are not scumbags) Link to comment Share on other sites More sharing options...
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