Prescient?
Posted: 13 Dec 2016, 10:19Not really. The £, rounded, is back up to €1.2 and I guess it will be solidly back to €1.2 by the end of the week and will remain so till Christmas.
It was not so long ago that I said 1.2 for Christmas and 1.3 before the end of March. By the end of March the BOE will have made 3 more retraction statements and will be firmly in the land of inflation management, if only by words not deeds.
The markets who, on Osborne's and Carney's statements, panicked and dumped the £ have found reason to start valuing it again. The more this happens and the stronger the UK economy becomes, the more likely we will bang out of the EU on a hard Brexit. So the £ is in for some rough time after April 2017.
I just wish I have a few million £ to speculate on the market. The traders are not that hard to read.
It was not so long ago that I said 1.2 for Christmas and 1.3 before the end of March. By the end of March the BOE will have made 3 more retraction statements and will be firmly in the land of inflation management, if only by words not deeds.
The markets who, on Osborne's and Carney's statements, panicked and dumped the £ have found reason to start valuing it again. The more this happens and the stronger the UK economy becomes, the more likely we will bang out of the EU on a hard Brexit. So the £ is in for some rough time after April 2017.
I just wish I have a few million £ to speculate on the market. The traders are not that hard to read.