English Pound set to Rocket

[rainbow]

...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?

ETP.JPG (24.13 KiB) Viewed 1982 times

https://www.x-rates.com/graph/?from=GBP&to=EUR&amount=1

An increase of 4% since first posted.

Is this an indication that Brexit will be scrapped, and the smart money knows this?

[Hermit]

...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?

ETP.JPG
https://www.x-rates.com/graph/?from=GBP&to=EUR&amount=1

An increase of 4% since first posted.

Is this an indication that Brexit will be scrapped, and the smart money knows this?

My maths is not up to yours. If you use 1.12 as the base (100%), what is the difference in percentage points between that and 1.16? Help me out, please.

[rainbow]

1.1535/1.1108 = 1.0384
An increase of 3.84%

[Brian Peacock]

[Hermit]

1.1535/1.1108 = 1.0384
An increase of 3.84%

Oh! I got it all wrong, but I still don't know how. Let me show how I calculated the percentage of the rise. Then you can explain where I made my mistake.

First I determined a baseline, which is 100% by definition.
That would be 1.12, or near enough to it.
1% = 1.12/100, which is 0.0112.

Next I determined the difference between the baseline (1.12) and the increased amount (1.16).
So the difference between the initial and the increase is 0.04.

Finally, I calculated how many times that 1% (0.0112) fits into the increase, the increase being 0.04.
That is done by dividing the increase (0.04) by the percentage point (0.0112).
0.04/0.112 = 3.57142857%

And would you know it, I just worked my mistake out all on my own.

[pErvinalia]

Jim, patient in need of some maffs, STAT!

[JimC]

Jim, patient in need of some maffs, STAT!

Sorry, Hermit, rainbow's answer of an increase of 3.84% was correct.

[Hermit]

Jim, patient in need of some maffs, STAT!

Sorry, Hermit, rainbow's answer of an increase of 3.84% was correct.

Yeah, I worked that out last night while trying to prove him wrong.

[rainbow]

Now 1.158 Euro to the Pound.

[rainbow]

It has dropped back, but I'd still like a sensible explanation for these trends.

Anyone got a clue?

[Hermit]

It has dropped back, but I'd still like a sensible explanation for these trends.

Anyone got a clue?

Sorry. I can't provide a sensible explanation for these particular trends, but I can give you three very central keywords that a sensible explanation is bound to include: gambling, rumour, speculation.

[Rum]

I make a small contribution every month to a 'fund', which is based 40% on shares and 60% on bonds and the like. It has a good record of around making about 3.5% per year profit over the last few years when interest rates here have been so low.

We had an annual visit from the advisor guy who we sold us the account just a few days ago and this year the fund has actually lost 2%. Still more than breaks even. He suggested buying more for our package as buying low means more profit when the market picks up, but given the potential for a shitstorm after Brexit I declined.

Mrs Rum's dad' (a gambler at heart) has made an average of about 5% over seven or eight years by going for a higher risk option but I'm a bit more cautious!

[rainbow]

I make a small contribution every month to a 'fund', which is based 40% on shares and 60% on bonds and the like. It has a good record of around making about 3.5% per year profit over the last few years when interest rates here have been so low.

We had an annual visit from the advisor guy who we sold us the account just a few days ago and this year the fund has actually lost 2%. Still more than breaks even. He suggested buying more for our package as buying low means more profit when the market picks up, but given the potential for a shitstorm after Brexit I declined.

Mrs Rum's dad' (a gambler at heart) has made an average of about 5% over seven or eight years by going for a higher risk option but I'm a bit more cautious!

If it has lost 2% in Pound value, how much has it lost if valued in Euros?

[Rum]

No idea but if the pound is better off against the Euro (I have not followed the thread) then it won't be.

[rainbow]

The pound has hit a 21-month high against the euro, following increased speculation about a delay to Brexit.

https://www.bbc.com/news/business-47372955