£ climbing again
Posted: 10 May 2017, 15:17I was looking for why as the French election result should have boosted the €. Then I remembered, the BOE has it's rate setting meeting tomorrow.
I did read that shorts on the £ are dropping and the € is setting in for long term poor performance. Trumps woes are hampering the $ even with rates rising.
I must admit the conversation I had with a colleague, back in July last year, where he, a remainer, told me we'd done the most foolish thing and the £ was going to parity with the $ and woe was us and the economy was shafted etc, etc; comes back to mind quite a bit.
Certainly bought the whole story didn't he.
The £ will probably rise to around €1.2 by tomorrow morning then fade again, depending on what Carney says. Although as each BOE minute is produced Carney looks more and more like a sailor gripping the wheel for grim death rather than a captain calmly sailing well known seas...
Forward Guidance anyone?
I did read that shorts on the £ are dropping and the € is setting in for long term poor performance. Trumps woes are hampering the $ even with rates rising.
I must admit the conversation I had with a colleague, back in July last year, where he, a remainer, told me we'd done the most foolish thing and the £ was going to parity with the $ and woe was us and the economy was shafted etc, etc; comes back to mind quite a bit.
Certainly bought the whole story didn't he.
The £ will probably rise to around €1.2 by tomorrow morning then fade again, depending on what Carney says. Although as each BOE minute is produced Carney looks more and more like a sailor gripping the wheel for grim death rather than a captain calmly sailing well known seas...
Forward Guidance anyone?