Pound At Highest Since Brexit Vote........

[ToraToraTora]

http://www.bbc.co.uk/news/business-43793605
I thought we were supposed to be living in caves on a Bowl of gruel a day by now! PMSL!

[DTCwordfan]

as the picture is in metric and not Imperial, TTT

[Zacs-Master]

‘The pound fell sharply against the euro following the referendum and has not been back above €1.20 since‘

Yeah, a real cause for celebration.

[cassa333]

Jamie Oliver overstretched his resources and puntersmdwindled so couldn't manage his businesses on such a large scale.

The £ value may have been a factor but to blame it entirely is perhaps not an honest reflection of his business.

[Tilly2]

It says 'Pound At Highest Since Brexit Vote' not 'Pound At Highest Because Of Brexit Vote.'

[webbo3]

Casssa333

\\Jamie Oliver overstretched his resources and puntersmdwindled so couldn't manage his businesses on such a large scale.

\\The £ value may have been a factor but to blame it entirely is perhaps not an honest reflection of his business.//


But they tried to blame it on Brexit.

[jno]

as Garaman says - the hope that the Tory backwoodsmen will be unable to engineer an overnight Brexit has encouraged business. Should May flaunt her weakness again (as in, for instance, her latest U-turn on Windrush people), expect the currency to start wobbling again.

[Jackdaw33]

Valuing the pound against the Euro is like valuing it against Monopoly money.

[Zacs-Master]

Why would you say that Jackdaw? The Euro is still a valid world currency which thousands of businesses (not least the tourist one) have to trade with / against.

[KARL]

Take any widely traded currency and, over the past decade and more the pound has fallen against it. In the last few days the pound has just crept infinitesimally off the bottom. PMSL over celebrations.

[jim360]

Since this post was made, the pound has slipped about 10 cents against the dollar. Perhaps that's a bad month, perhaps a sign of a longer trend as Brexit worries start to bite yet again. Who knows? Forex markets are weird and I still don't get them.

Still, it was interesting to see this post -- I thought around the time that the pound crashed following the vote you were one of several explaining how a low pound was wonderful because it was good for exports. If so, isn't the recent increase in the pound a bad thing to see? Or is this one of those times were every move can be explained as good news, depending on what cherry-picked benefit suits you the most at the time?

Really, the story of the pound's rise against the dollar is about the weakness of the American currency, rather than the strength of Sterling. As ZM pointed out, the pound has been largely flat against most other currencies, particularly the Euro, since 2016.

All of this is complicated and is essentially the market responding to uncertainty, and that still is going to be the case up until Brexit, and what that actually means financially, is understood. There are plenty of other effects, and twists and turns to come, before then.