Budget and effect on value of pound?

[Hilary]

Can anyone please explain the likely / possible effects, if any, the budget might have on the pound's value against both the euro and the dollar?

 

[darthtatty]

i was wondering the same too

 

[Howellsy]

I assume it will have a negative effect for us, though I don't know why I think this :S The stock market dropped after the Budget was released, but I'm not sure if that means the pound will be weaker. I doubt it would have much effect though. I found this article from before the Budget was released:
http://uk.reuters.com/article/businessNews/idUKTRE53L1CD20090422

 

[tony64]

Well I don't know about the exchange rate but I'm off to Morisons on the way home for abottle of Southern Comfort and It'll have to last till my next duty free trip.

 

[Boss Hogg]

Seems to be the case that what ever he did, the £ will drop!

According to the guy I'm listening to now the national debt figures don't work and all Darling's done is predict growth at an unrealistic rate. Would this make the chancellor look dumb and thus affect the £?

Did like Cameron's joke about the car incentive - "are we scraping things 10yrs old, which spew out hot air and pollute the air around them"

 

[Chilly]

I have asked this question on the BBC website but they've not replied.

 

[darthtatty]

I assume it will have a negative effect for us, though I don't know why I think this :S The stock market dropped after the Budget was released, but I'm not sure if that means the pound will be weaker. I doubt it would have much effect though. I found this article from before the Budget was released:
http://uk.reuters.com/article/businessNews/idUKTRE53L1CD20090422

thanks for the link

Seems to be the case that what ever he did, the £ will drop!

According to the guy I'm listening to now the national debt figures don't work and all Darling's done is predict growth at an unrealistic rate. Would this make the chancellor look dumb and thus affect the £?

Did like Cameron's joke about the car incentive - "are we scraping things 10yrs old, which spew out hot air and pollute the air around them"

Cameron's speech was rather amusing

Well I don't know about the exchange rate but I'm off to Morisons on the way home for abottle of Southern Comfort and It'll have to last till my next duty free trip.

mmmm enjoy

I have asked this question on the BBC website but they've not replied.

good idea, hope you get an answer

 

[natalielongstaff]

Well I don't know about the exchange rate but I'm off to Morisons on the way home for abottle of Southern Comfort and It'll have to last till my next duty free trip.

drink it slowly Tone !!

 

[Booknut]

Cameron's speech was rather amusing

I laughed so loud at work and almost spit out my coffee when he said Mandelson knew a thing or two about getting a great mortgage Most enjoyable...

I have high hopes for the pound going up a bit by summer but this is more wishful thinking I think than any huge understanding of the markets and today's speech.

 

[Trilli-magic]

I think I am the only one hoping the pound doesn't go up yet!!
I really want to move back home and we are looking for jobs but this lovely credit crunch isn't making it easy, we have had zero feeback!
Anyway we are getting a mortgage (expat one) so we can grab hold of the housing market and buy a home now so while in the process of trying to transfer the money we have saved to UK (aparently lots of taxes to be paid here to transfer!!) I am keeping my fingers crossed the pound stays weak against the euro, otherwise we would loose thousands just on the exchange rate!!!

 

[oceanscape]

Doesn't look to have made much difference yet.

Absolutely LOVED Cameron's budget response speech -- truly fantastic -- get out Gordon and make way for the people who can turn the mess around.

 

[darthtatty]

on http://www.comparetravelmoney.co.uk/ it was 1.42 yesterday, today its 1.40. so gone down a little. i usually go off the post office rate as thats what the local rate is.

i loved his speech too, watched it again last night