Pound was overvalued anyway. Referendum was just perfect timing tool to drive it down. As for going long after No vote- one has to understand that if everyone did the same move BUY, the currency would experience huge fluctuations which is not in the gov. best interest. After what George Soros did last time - it was a very good lesson to learn - therefore there must be some form of bank interconnecting controls to prevent this from happening again!
As for the way forward, yes it should go up if one can assume that people and markets are rational. But it has to follow a CYCLE first.
As for the way forward, yes it should go up if one can assume that people and markets are rational. But it has to follow a CYCLE first.
If you fall, I shall be there. - The floor