English Pound set to Rocket

Will the Pound recover the Brexit Losses in the next few weeks?

20%
0
No votes
10%
1
10%
-10%
2
20%
-20%
0
No votes
Molten cheese
7
70%
 
Total votes: 10

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rainbow
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English Pound set to Rocket

Post by rainbow » Mon Jan 14, 2019 6:42 am

...so I heard that some hedge funds are betting on an improvement in Sterling.

Do they know something, or are they just taking a punt with other people's money?
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Re: English Pound set to Rocket

Post by Rum » Mon Jan 14, 2019 8:56 am

The consensus seems to be that when we leave, depending on the final deal, our GDP might drop by as much as 8% - a recession in fact.

Unless this guy knows something the rest of us don't it is hard to see how the Pound is going to benefit from the shitstorm that will envelop the country after we leave.

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Re: English Pound set to Rocket

Post by Brian Peacock » Mon Jan 14, 2019 9:22 am

They're betting on a bit of a post-Brexit investor scrummage - medical insurers, agricultural chemicals, nuclear waste, outsourcing infrastructure to China, you know the sort of thing.
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Re: English Pound set to Rocket

Post by rainbow » Mon Jan 14, 2019 12:59 pm

Odey said that he has turned bullish on sterling. He reckons it could rise to $1.32 or $1.35, from about $1.28 today, because he thinks Brexit will be scrapped entirely.
https://www.bloomberg.com/opinion/artic ... ey-see-one

UK gilts market shows investors are bracing for pound sell-off
Inflation-linked government bonds suggest markets anticipate chaotic EU exit
https://www.ft.com/content/f73264f6-159 ... f78404524e
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Re: English Pound set to Rocket

Post by rainbow » Tue Jan 15, 2019 10:58 am

Pound To Euro Exchange Rates Close To 2019 Best Ahead Of The Brexit Vote
https://www.exchangerates.org.uk/news/2 ... stage.html

It appears that the prospect of the government falling is good for the Pound.
:ab: Strange :thinks:
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Re: English Pound set to Rocket

Post by Scot Dutchy » Tue Jan 15, 2019 12:10 pm

What is wrong with the British Pound or has Scotland gone independent?
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Re: English Pound set to Rocket

Post by Scot Dutchy » Tue Jan 15, 2019 12:12 pm

1.26 against the Euro.
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Re: English Pound set to Rocket

Post by rainbow » Tue Jan 15, 2019 1:45 pm

Scot Dutchy wrote:
Tue Jan 15, 2019 12:10 pm
What is wrong with the British Pound or has Scotland gone independent?
I once had a Scottish Pound, but nobody in England would accept it. Weird country.
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Re: English Pound set to Rocket

Post by Scot Dutchy » Tue Jan 15, 2019 1:50 pm

rainbow wrote:
Tue Jan 15, 2019 1:45 pm
Scot Dutchy wrote:
Tue Jan 15, 2019 12:10 pm
What is wrong with the British Pound or has Scotland gone independent?
I once had a Scottish Pound, but nobody in England would accept it. Weird country.
When I was a kid a Scottish pound was worth 19/6 in England. Six pence was bank charges for changing it. We had so many small banks and all different sizes of notes. They were not legal tender. I forget the correct legal term.
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Re: English Pound set to Rocket

Post by Svartalf » Tue Jan 15, 2019 2:15 pm

what's the point of letting certain banks print money if it's not legal tender?
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Re: English Pound set to Rocket

Post by Scot Dutchy » Tue Jan 15, 2019 2:29 pm

Svartalf wrote:
Tue Jan 15, 2019 2:15 pm
what's the point of letting certain banks print money if it's not legal tender?
It was an agreement. They were a type of bond. It is in the wording on the bank notes.

This will clear it up: Legal Position

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Re: English Pound set to Rocket

Post by BarnettNewman » Tue Jan 15, 2019 6:33 pm

UK was starting to climb out of the hole when the Brexit trigger was pulled.

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Re: English Pound set to Rocket

Post by Scot Dutchy » Tue Jan 15, 2019 11:35 pm

It actually went up tonight after the vote. A business BBC correspondent said the business world does not know how to react. Who does?
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Re: English Pound set to Rocket

Post by JimC » Tue Jan 15, 2019 11:41 pm

Rocket is too bitter for me... :tea:
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Re: English Pound set to Rocket

Post by Jason » Wed Jan 16, 2019 2:55 am

Hooray! Onward to greater synthethis!

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