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  • The pound is ‘extremely undervalued’ right now, according to UBS

    From marketwatch.com

    Has the pound hit rock bottom yet? With sterling taking another blow this week and touching a more than seven-year low against the euro, some analysts are now speculating it could hit parity with the shared European currency and fall further against the dollar by year’s end. But those forecasts are way too pessimistic, according to Dean Turner, economist at UBS Wealth Management. In a note out on Wednesday, he argues that the pound has been sold off too hard —particularly against the euro — as markets try to price in the impact of the U.K.’s exit from the European Union. “I am often asked how much further ... (full story)

Of course who are we to disagree with the leader in Fake Financial News UBS but the charts we have tell us we are heading down to at least 1.20.
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Trading Consultants Inc JJG
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Does not matter - there is no better valuer than the markets regardless of an individual banks opinion and we can be sure that post the current correction the Pound will reach and may be exceed 1.40$ that is almost certain. So there.

The Crow (-_-)

The trick of course is timing that move up.
Uk has a huge trade deficit. About 12 Billion a month to be exact. Until this cant be improved GBP will only go lower in the long term.
Blimey, the pound, the old GBP, does anyone still have these dusty relics of a bygone age, I converted all mine into Bitcoin some time ago..... Reasons below

1/ "Promise to pay the bearer" my ar@e, who's promising ? some foreign fellah and his crooked mates (be better off trusting the lavender hill mob

2/ Even if they did pay, what would you get, a pound of stirling silver (GBP) nope , a plastic note made with animal fat on it that gets less valuable by the day

UBS are 180 degrees wrong on this one, its about 80% overvalued and headed to nothing faster than you can say "Something smells fishy at the bank and its not copydex glue"

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  • Story Stats
  • Posted: Aug 16, 2017 11:23am
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 5  /  Views: 2,338