Religion & Spirituality1 min ago
Pound Falls Ahead Of Theresa May Brexit Speech
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And she hasn't even opened her mouth yet !
What an asset Mrs May is to Britain....the cause of a 20% drop in the value of Sterling.
And she hasn't even opened her mouth yet !
What an asset Mrs May is to Britain....the cause of a 20% drop in the value of Sterling.
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//the pound is safe with us//
it's not in the gift of any politician - of whatever leaning - to say that. it's market forces that dictates the value of the pound, not the government. and the strength of the dollar - the traditional currency benchmark - is completely beyond the control of anyone in the UK.
it's not in the gift of any politician - of whatever leaning - to say that. it's market forces that dictates the value of the pound, not the government. and the strength of the dollar - the traditional currency benchmark - is completely beyond the control of anyone in the UK.
It's obviously no coincidence, but on the other hand no politician is in control of how the ForEx markets will react -- least of all to speeches that haven't even been given yet. When the Supreme Court reaches its inevitable decision of rejecting the Appeal, I shouldn't be surprised to see the pound jump up in response, for example -- but that's hardly the judges' faults, or something they should take into consideration.
And anyway, the reason the pound has tumbled since Brexit is, partially, because the markets failed to anticipate the outcome of the referendum. Sure, they don't like the outcome, and are particularly disgruntled at the idea of "hard Brexit" -- but, I suppose by definition, the change in Sterling means that the markets priced the pound wrongly. It follows that they may be doing the same now; if Brexit turns out to be nowhere near as Black as it's been painted, the markets will readjust up.
Long story short, I can't say I've enjoyed watching Sterling tumble in price (and yes, the boom in UK Stock Markets is pretty strongly correlated with this), but it remains a short(ish)-term fall, with a complicated set of benefits or disadvantages for the UK economy; whereas Brexit should be evaluated economically only some time after it's happened. The markets tend to hate it, and they may be correct, but then again they may not be.
And anyway, the reason the pound has tumbled since Brexit is, partially, because the markets failed to anticipate the outcome of the referendum. Sure, they don't like the outcome, and are particularly disgruntled at the idea of "hard Brexit" -- but, I suppose by definition, the change in Sterling means that the markets priced the pound wrongly. It follows that they may be doing the same now; if Brexit turns out to be nowhere near as Black as it's been painted, the markets will readjust up.
Long story short, I can't say I've enjoyed watching Sterling tumble in price (and yes, the boom in UK Stock Markets is pretty strongly correlated with this), but it remains a short(ish)-term fall, with a complicated set of benefits or disadvantages for the UK economy; whereas Brexit should be evaluated economically only some time after it's happened. The markets tend to hate it, and they may be correct, but then again they may not be.
Actually Trump's election has led to remarkably little reaction in the markets. There was a bump, the pound rising a little against the dollar, but it soon vanished. Perhaps it's because election and inauguration were separated by long enough that we won't truly see the effects until next week, or perhaps it's because Trump isn't expected to be so bad economically (just in all other respects), but either way the markets rapidly shook off the "Trump effect".
Brexit *has* lasted in the value of Sterling and corresponding rise in share prices. Again, maybe we have to wait until it's actually known what Theresa May wants (and then again wait until we find out what we actually get) before seeing what the true effect is.
Brexit *has* lasted in the value of Sterling and corresponding rise in share prices. Again, maybe we have to wait until it's actually known what Theresa May wants (and then again wait until we find out what we actually get) before seeing what the true effect is.
“... and the UK stock market keeps breaking record highs.”
“Because the Pound is in freefall Hoppy !”
The sell your dollars and buy some shares, Mikey. That’s what the moneymen do and individuals must do the same to make the most of prevailing markets.
It makes no sense to continually keep harping on every time something changes in the markets. It is quite obvious that last June’s vote signalled turbulent times to come. I voted to leave because I believe it will be in the UK’s long term interests (i.e. beyond the week after next). Money markets respond on a minute-by-minute basis – hence the dramatic fall in the Stock Market on June 24th. Then everybody sat back and thought about it.
“Ms May could face a legal challenge from Northern Irish politicians if she tries to trigger Article 50 while Stormont is not sitting. “
Thus demonstrates the utter folly of the ridiculous devolution arrangements.
“Because the Pound is in freefall Hoppy !”
The sell your dollars and buy some shares, Mikey. That’s what the moneymen do and individuals must do the same to make the most of prevailing markets.
It makes no sense to continually keep harping on every time something changes in the markets. It is quite obvious that last June’s vote signalled turbulent times to come. I voted to leave because I believe it will be in the UK’s long term interests (i.e. beyond the week after next). Money markets respond on a minute-by-minute basis – hence the dramatic fall in the Stock Market on June 24th. Then everybody sat back and thought about it.
“Ms May could face a legal challenge from Northern Irish politicians if she tries to trigger Article 50 while Stormont is not sitting. “
Thus demonstrates the utter folly of the ridiculous devolution arrangements.
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