Dramatic Change in Currency Market Due to British Vote

As of 10:30 pm in California. British Pound has dropped 9-10% vs US Dollar since yesterday. Euro has dropped about 3%.

Currency markets just do not move this rapidly.

British Pound has dropped 10% vs US Dollar since yesterday. Euro has dropped about 3%.

Also dropped against the AUD.:D

It will rise again.

It will rise again.

The biggest question is when and if it will fall further before it stabilizes at some point. Prior to the vote there were projections that it might fall to as low as 1.15 from the 1.49 it was sitting at. Most don't think it will fall that far. But it is less than clear in which direction is will move and by how far over the next couple of years.

It sort itself out. Was to be expected.

Expected reaction. The whole process will take about 2 years before GB officially exits from the EU. With the majority of MPs recommending Briton stay in the EU there will be interesting times ahead.

Expected reaction. The whole process will take about 2 years before GB officially exits from the EU. With the majority of MPs recommending Briton stay in the EU there will be interesting times ahead.

This is just the beginning of a long process, people will be sick of it well and truly before that as every turn in events will cause the GBP to fluctuate.

Rest assured the £ will rise again. I'm more concerned that the Euro will fail and we might get back to individual currencies throughout Europe. The stateroom safes will groan under the weight of all the funny money.:D

Rest assured the £ will rise again. I'm more concerned that the Euro will fail and we might get back to individual currencies throughout Europe. The stateroom safes will groan under the weight of all the funny money.:D

Like it!

Stayed up too late last night so suffering now, but with a very positive outlook through tired eyes.

The biggest question is when and if it will fall further before it stabilizes at some point. Prior to the vote there were projections that it might fall to as low as 1.15 from the 1.49 it was sitting at. Most don't think it will fall that far. But it is less than clear in which direction is will move and by how far over the next couple of years.

I am sure you age going to see a lot less Brits cruising and traveling internationally because their currency is going to be a weak currency against the Euro and USD....better start practicing their stiff upper lips!! :)

I'm glad I did my British Isles cruise in May, before all this occurred.

We are still looking forward to our stops in GB as part of the second leg of our BTB Baltic and British Isles to NY. It will be interesting to see what the mood and consequences are when we are there in September. Might not be a major thing at that time.

Hi,the way you yanks are talking,this is worse than the french revolution.You guys will be quids in with the strong dollar.Us brits can still buy OBC at 1.538 to the GBP.Cheers,Brian.

Expected reaction. The whole process will take about 2 years before GB officially exits from the EU. With the majority of MPs recommending Briton stay in the EU there will be interesting times ahead.

Hi,Im afraid the people have decided,the MPs have no say in the matter,cheers,Brian.

Hi,the way you yanks are talking,this is worse than the french revolution.You guys will be quids in with the strong dollar.Us brits can still buy OBC at 1.538 to the GBP.Cheers,Brian.

How can I do that Brian?

On the cruise personaliser the purchase of OBC comes up as £'s in the shopping cart and doesn't say how many US $ will be added to my ship board account!

Roll on 30th July for two weeks aboard Royal Princess. Thankfully the FCC and shareholder OBC will ease the pain of fewer £'s to the $.

I'm glad I did my British Isles cruise in May, before all this occurred.

Things would cost less now for you, so I don't understand your comment

I went to live in London in 1984. It was great for my brother and a friend who visited me in early 1985 when the pound and the dollar almost reached parity. They were able to do a lot more than they would have with a stronger pound. Since I was earning my paychecks in pounds, the stronger dollar did not benefit me as much.

I just talked to my DH that we should do a transatlantic cruise to London and stay there for few days to take advantage the good exchange rate.

THe Pound has already strengthened back to where it was against the Euro last week, Dollar just a bit down, but nothing to worry about. Its about profiteering by speculators, not the real world. Business as usual here in the UK. The EU has some serious problems now. For a start, one of the biggest paymasters just pulled the rug - the UK.

Holland next, then France, and so on.

The problem with the EU is it became a political entity without democracy, rather than the Common Market it was supposed to be. It can't last in todays world. We want a say in our country's management.

The GBP will bounce a bit just from the day traders. Doubt seriously that the GBP will come anywhere close to tanking. It is inching back up even as I type this. Was about $1.35 US to 1 GBP when I looked at it first thing this morning. It is already up to $1.38 US to 1 GBP as of just a few minutes ago. There may be a little jigging back and forth for a bit but nothing like the wild swings predicted by the Drama Queens of the Investing World.

How can I do that Brian?

 

On the cruise personaliser the purchase of OBC comes up as £'s in the shopping cart and doesn't say how many US $ will be added to my ship board account!

 

Roll on 30th July for two weeks aboard Royal Princess. Thankfully the FCC and shareholder OBC will ease the pain of fewer £'s to the $.

Divide the amount in £ by the $ value and that gives you the exchange set for your account on that cruise. It will be the same for anything you buy before you go.

I prepaid the tips, bought a coffee card and gift credit at a better rate than actual last year. Wishing Carnival had something similar as that's who i'm sailing with this year.

Esprit

Phone Princess Customer Services at Southampton. They will tell you the amounts.

I did it last week. Bought 500 dollars for £325.00.

Things would cost less now for you, so I don't understand your comment

I agree. I don't get flamomo's comment. The BEST time to go to the UK is now! The pound is down against the dollar - the lowest it's been in 31 years. Couldn't be a better time for Americans to visit the UK! Get your pounds now while the gettin' is good! :D

Things would cost less now for you, so I don't understand your comment

Agree. It is so much cheaper for USA people to go to Britain now.

My biggest fear with all of this is that Australia will remain weak against all the currencies, which certainly doesn't help my cruise aspirations. :eek::eek:

Seriously though, I cannot foresee anything but a more volatile GBP (pound)and subsequently other currencies, as each step on exiting will cause ripples in the global market.