I hate the Tories but the markets love them for some mad reason Only good thing to come out of this election was the exchange rate, apart from us Scots blowing an enormous raspberry at Westminster It is odd , the FTSE can plummet but at the same time the currency seems a better bet to these traders, I've never understood it, which is probably why I am skint
The exchange rate and the FTSE are a gamblers playground nothing more, I'm one of them I have pension investments that could be worth next to nothing tomorrow morning at the hint of a grexit or a brexit or some other inevitable international or local disaster. China is a debt disaster waiting to happen, none of the nonsense has gone away it has only been submerged
I've just transferred some cash from a Sterling account to a Peso one and got HSBC's spot rate of Php 1 = £0.0143308 (or 69.78). XE's mid-market rate at the time of the transaction was a smidgeon better at £0.014201 (or 70.41).
The Pound has dropped a touch against the Peso - currently 70.1006. The Euro isn't faring so well here though and has dropped a Pesos from over 50 to the Euro yesterday.
