Vocal Voices

Since July, every time there has been any news that is not positive, or even positive news, the market has been selling £. Back in October when I started my new job in London a friend called and asked my opinion on the value of the £ in the near term. He was talking parity with the £ and continuing to fall with the €.

This week we got some not so good news. They had been estimating that jobs would grow by 50,000. In fact they fell by 6,000. However unemployment fell by 16,000 too. Mainly the "falling off the jobseeker radar" stuff that happens.

There was a blip on the £ to the €, but then it came back again today. A floor has been set and the markets are pushing the £ over it rather than trying to push it under it. The short selling appears to have virtually stopped.

This is a big change in attitude from the markets and shows that the news coming from the BOE is being interpreted very differently by the markets than by the press.

This is quite a change in attitude.

I am neither excited nor dismayed at the markets as there is so much going on for any certainty - OPEC oil cuts, the Fed raising interest rates with three more predicted for 2017, Trumpenomics, Brexit, of course, dodgy predictions and stats, and the spivs wondering what to gamble on next.

BetFred, sorry, the markets will do what the markets will do.

All true, but with the change in attitude the £ is more likely to climb than drop.

That, for me, is important to know.

Suff wrote:All true, but with the change in attitude the £ is more likely to climb than drop.

That, for me, is important to know.

But it could still drop.