Post Profile

Rude Awakening in the U.K. Over Brexit Cost Sends Pound Down

``With the premier signaling that a crackdown on immigration took precedence over membership of the bloc's single market and European leaders hardening their position, traders responded by driving the pound to its lowest against the dollar since 1985. Following an overnight plunge in Asia, the currency is wrapping up its worst week since the June Brexit vote....Signs that the divorce talks -- and terms -- were likely to be bitter emerged in the annual Conservative party conference that ended Wednesday.
read more


Related Posts

The British Pound Crashed Because of Robot Traders

Business & Finance / Economics : Slate: Moneybox

The British pound has been losing value lately thanks to anxiety over Brexit. But things took a turn for the bizarre during early morning trading in Asia Friday, when the currency suddenly plunged 6.1 percent in about two minutes be...

HSBC: The pound is now 'the de facto official opposition to the government’

Business & Finance : Business Insider: Clusterstock

The pound has become a political football that currency traders are using to try and punish the government into softening proposed Brexit terms, according to HSBC. HSBC's chief FX strategist David Bloom says in a note circulated on ...

Frontrunning: October 7

Business & Finance : Zero Hedge

Pound struggles to recover after plunging 6% in 2 minutes (FT) Flash Crash of the Pound Baffles Traders With Algorithms Being Blamed (BBG) Pound Plummets Against Dollar in Chaotic Trading (WSJ) Two-Minute Mystery Pound Rout Puts Spo...

FX Market Chaos Signals Brexit Risk Surge Post-Belgium

Business & Finance : Zero Hedge

The markets' various indicators of 'Brexit Risk' are all elevated this morning post-Belgium-attacks. GBPUSD is tumbling... But most crucially, the cost of protection against pound currency swings over EU currency swings has jumped t...

The City traders betting against the pound are ignorant teenagers without the foggiest idea what Brexit means


Copyright © 2016 Regator, LLC