May announces hard Brexit - £ surges

OP

Original post by 999tigger

If its all down to just speculators, then why are you banging on about a rise? Wouldnt that all just be specualtion?

Of course it is.

This is a short covering rally.

I am banging on about it to tease you, and it seems to be working. :biggrin:

Reply 22

999tigger

19

Original post by astutehirstute

Of course it is.

This is a short covering rally.

I am banging on about it to tease you, and it seems to be working. :biggrin:

Well you are doing a convincing job of looking like an idiot, so your plan although rather bemusing appears to have worked.

Reply 23

swanderfeild

10

Someone should notify the oxford dictionary that "surge" has been redefined to mean when something gains $0.03 after loosing $0.17 in a day few months earlier.
I'm curious though if 3% rise in a day is a surge, what is 8% collapse in a day?

Reply 24

OP

Original post by 999tigger

Well you are doing a convincing job of looking like an idiot, so your plan although rather bemusing appears to have worked.

Better to appear an idiot than to BE charmless and graceless...

Reply 25

richpanda

16

The right just keeps on winning. No wonder lefties hate us!

Reply 26

Sephiroth

18

The pound dropped about $0.20 between July 2014 and January 2015. Didn't see anyone whining about that or stupid companies like Apple thinking they can raise prices by 25%.

Reply 27

OP

Original post by richpanda

The right just keeps on winning. No wonder lefties hate us!

Ha ha ha!

The left blew it over Brexit. The one chance they had in recent times to be on the right side of history and they sided with big business, a bunch of establishment Eurocrats and those inept continental politicians.

Think how different the position of the Labour Party would be now if more than a handful of its MP's and its leadership had supported Brexit and caught the zeitgeist.

When the Tories stumbled they would be in government again. As it is, the wilderness...

Reply 28

Rakas21

21

Original post by Dez

Yes, the pound has definitely surged, all the way from $1.20 to a whopping $1.23. Fantastic news, but seeing as it was up at $1.49 before the referendum, I wouldn't crack out the champagne just yet.

As i stated a number of times since the referendum what we will see over the next two years or so is instability based on posturing and markets trying to read into negotiations. These up and down movements since the large movement on the 24th are irelevant and to be ignored for the most part.

Short of a catastrophic deal the appreciation will come in 2019 so buy Sterling and wait for the post-negotiation surge as certainty returns (note that i expect Sterling to get back to $1.40, not be $2.00 or something stupid).

Reply 29

Original post by astutehirstute

On its way to its biggest intraday gain since 2008.

Don't think you will be hearing abput that much on the anti Brexit, biased BBC. :biggrin:

You're becoming every bit as bad as the regressive left with deluded paranoia like this...

Reply 30

Original post by astutehirstute

It was overvalued before, it corrected too sharply, now it is undervalued.

You do realise that the price of sterling is controlled by currency speculators, right?

What fell will eventually rise when they cover their short?

HAHAHAHA

The pound was 'overvauled'? Oh do me a favour....
The lack of intellectual honesty from the right, as well as the left is beyond laughable.

If we'd have voted remain and the pound fell, would you be saying the pound was 'overvalued'?
Of course not.

Reply 31

meenu89

19

Original post by Bornblue

HAHAHAHA

The pound was 'overvauled'? Oh do me a favour....
The lack of intellectual honesty from the right, as well as the left is beyond laughable.

If we'd have voted remain and the pound fell, would you be saying the pound was 'overvalued'?
Of course not.

Organisations like the IMF were saying that sterling was overvalued. Although I still think the IMF are ****.
https://fullfact.org/economy/exchange-rates-and-imf/

(edited 7 years ago)

Reply 32

OP

https://www.imf.org/external/pubs/ft/scr/2016/cr1658.pdf#page=11

Original post by Bornblue

HAHAHAHA

The pound was 'overvauled'? Oh do me a favour....
The lack of intellectual honesty from the right, as well as the left is beyond laughable.

Amazing how the Remain side expect us to believe the "economic experts" when they are wrong and ignore them when they are right. :biggrin:

Reply 33

Original post by meenu89

Organisations like the IMF were saying that sterling was overvalued. Although I still think the IMF are ****.
https://fullfact.org/economy/exchange-rates-and-imf/

Let's not even pretend for a second that if we had voted remain and the pound collapsed, that the leave camp wouldn't have seized on it.

Or would they have gone 'it's a good thing the pound collapsed and I guess that means it's good we remained'?
I don't think so.

The lack of intellectual honesty from both sides is staggering.

According to the OP it's a good thing the pound collapsed but now it's also somehow a good thing that it went back up again..

It's beyond belief.

Reply 34

https://www.imf.org/external/pubs/ft/scr/2016/cr1658.pdf#page=11

Original post by astutehirstute

Amazing how the Remain side expect us to believe the "economic experts" when they are wrong and ignore them when they are right. :biggrin:

Aren't you doing exactly the same....

You're being fundamentally dishonest.
I don't care whether people support leave or remain, I want them to be consistent.

Had we remained and the pound collapsed, would you have been saying 'it's a great thing the pound collapsed because it was overvalued and therefore we were correct to stay'?

Of course not. You'd have jumped on it.

Just stop with the tribal nonsense.

Reply 35

OP

Original post by Bornblue

Aren't you doing exactly the same....

You're being fundamentally dishonest.
I don't care whether people support leave or remain, I want them to be consistent.

Had we remained and the pound collapsed, would you have been saying 'it's a great thing the pound collapsed because it was overvalued and therefore we were correct to stay'?

Of course not. You'd have jumped on it.

Just stop with the tribal nonsense.

I said that the pound was overvalued before Brexit. You laughed at that, and I produced a report from the most respected, party politically neutral, economic body in the world, to explain why I made the statement.

That is all that happened.

Brexit is the biggest,most important, most bitterly, viciously contested political and economic issue of both our lives so far. And I don't think we will see its like again.

I get that you don't care that much about it, but some of us are very passionate indeed. If that sometimes descends into tribalism, so be it. You are a lawyer. Sue me.

Reply 36