Sterling losing value

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DamC82

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Reports suggest that sterling has lost value against the euro overnight. If this continues even in the short term , are we likely to see a huge amount of consumers heading for the north ?
 
€1.24 = £1 won't cause stampedes anywhere.

Here's the trend since 2012. The cross-border shopping mania died years before that.
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T McGibney said:
€1.24 = £1 won't cause stampedes anywhere.

Here's the trend since 2012. The cross-border shopping mania died years before that.
[broken link removed]
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Circa 08-09 it was an issue, what was the rate around that period?
 
At the risk of sounding ridiculously stupid, When they say sterling has lost value against the euro who benefits the most in a cross border shopping sense? I know there are other issues to consider as well..
 
DamC82 said:
At the risk of sounding ridiculously stupid, When they say sterling has lost value against the euro who benefits the most in a cross border shopping sense? I know there are other issues to consider as well..
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The people living in the republic benefit when sterling weakens. Your euros buy more pounds sterling than they did before, so for the same amount of euros you can buy more stuff in Northern Ireland.
Over time, prices denominated in sterling will increase if the currency stays weak, but there is a lag.
 
it's good news for petrol stations near the border in the South. The fall in the £/$ rate by more then 10% is going to push up the price of fuel north of the border. Also likely to make fuel laundering more lucrative
 
No, less, sure the pound has lost value.

Sterling income is worth less when converted to euros.
 
DamC82 said:
Reports suggest that sterling has lost value against the euro overnight. If this continues even in the short term , are we likely to see a huge amount of consumers heading for the north ?
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No, as STG lost just 4 pence against EUR, and is down to levels that were seen recently.

It's at 81p.

Bear in mind it spent years at 85-90p.
 
Protocol said:
No, as STG lost just 4 pence against EUR, and is down to levels that were seen recently.

It's at 81p.

Bear in mind it spent years at 85-90p.
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It lost 4p against the euro overnight. That is a huge fall for one day. It fell even more against the dollar.
 
Any currency will inexorably fall on uncertainty and boyo have Farage/Boris and Co manufactured a grade one mess.

@ what level uncertainty is priced in , depends on the main players reactions.
eg , If France/Germany tell UK get stuffed ,uncertainty is over and £stg finds a level.
eg, If France/Germany play it too nice for too long ,uncertainty will hit £ and euro.

I just don,t see things staggering on until Tories elect a new Boss.
Indeed I hope not , as the Bard said {if it is to done , tis better it be done quickly} or something like that !
 
There will be no stampeded to the border becasue many items In NI are more expensive - thus up to recently you've had a huge number of Northern shoppers come south. Last Christmas Kildare village had huge numbers of northern cars.

At 1.23-1.25 (consumer rate) there's an equilibrium and very little difference either way in prices of goods - naturally you will always find a few extremes in both markets.

As this is more to do with a weakening pound, fuel will rise in NI due to the 10% depreciation on the dollar, with no rise here as euro/dollar rate has only moved a couple of cent.
 
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