What does it point to? The idiotism of speculators, all alone.
Pound's unexpected robustness may point to underlying strength
The UK is, President Trump kindly informs us, in turmoil. In Westminster, there is feverish talk of a leadership challenge. The economy is in a state of peak Brexit uncertainty. The trade deficit has worsened yet again. is battering Britain’s FTSE-quoted commodity giants. In the past, sterling, as the barometer of the nation’s international standing, would have collapsed in value in such a crisis. Yet for the last year the pound-euro rate has never been more stable. On 11 July 2017, the foreign exchange markets gave you precisely €1.13116 for each £1. One year on – on Wednesday at just after 10am – the pound was trading at ... ... (full story)
- Posted: Jul 12, 2018 11:09am
- Submitted by:Category: Fundamental AnalysisComments: 17 / Views: 2,309