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  • British Finance Minister Sajid Javid resigns, reports say

    From cnbc.com

    Sajid Javid has resigned as the head of the U.K.’s finance ministry, surprising financial markets and political pundits in the country. He has served as finance minister (known as the Chancellor of the Exchequer in the U.K.) since July, when Boris Johnson was first appointed prime minister. He will be the shortest serving U.K. finance chief since 1970. Javid — the son of a Pakistani bus driver who previously served as home secretary — was due to present Britain’s budget in March, the U.K.‘s first after its departure from the EU last month. The resignation comes as Johnson was making changes to his Cabinet ... (full story)

Bad news = GBP up
If you don't know where you are, create your Axis
Quoting flowin
Bad news = GBP up
Bad News = GBP down
Make it Green
Quoting louisfx
{quote} Bad News = GBP down
For this case i have SLs
If you don't know where you are, create your Axis
all this and CHF is still getting messed up. Funny it looks like the Swiss are going to protect there money.
Oh dear.. Poor old Javid.. got in the way of Domenic Cummins (the real PM).
Nomination of the next Chancellor will reveal a lot.. Lets see what US session reaction is..

Edit:
Breaking:
The prime minister said he had to fire all his special advisers and replace them with Number 10 special advisers to make it one team.
The chancellor said no self-respecting minister would accept those terms.
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Why GBP goin down?
Gbp down against euro
TuriBinda
why GBP up when bad news
Quoting RossEdwards
Oh dear.. Poor old Javid.. got in the way of Domenic Cummins (the real PM). Nomination of the next Chancellor will reveal a lot.. Lets see what US session reaction is..
Spot on.
Market does seem to be liking Johnson move to cut the apron strings.
Resigned because he was given the option of a lesser job or the push.
Quoting jimr
Resigned because he was given the option of a lesser job or the push.
No resigned because he was required to dance to Domenic Cummins tune.
Johnson is just a glove puppet.
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Quoting dmjoguns
why GBP up when bad news
It may not be that the Chancellor was rated as being GBP-value-dilutive or a moment in time where the economic ship is seen as rudderless but that was an instantaneous opportunity to briefly break a bottled up resistance point at $1.30. The initial move WAS negative but bounced, indicating non-fundamental assessments.
Still don't understand why this would cause a spike in GBP ... if anything, a cabinet shuffle means uncertainty, so I would have expected it to drop?? market manipulation I hear you say ???
Another ex-hedgefund manager.
Experience in government - a full 8 months as Chief Secretary to the Treasury(?)
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Quoting DaJoWaBa
{quote} It may not be that the Chancellor was rated as being GBP-value-dilutive or a moment in time where the economic ship is seen as rudderless but that was an instantaneous opportunity to briefly break a bottled up resistance point at $1.30. The initial move WAS negative but bounced, indicating non-fundamental assessments.
Stuff I look at show a smaller weekly cycle Low around now. Need a break above 1.3070 to confirm.
1.3000 triple zero going to be some market arguing going on about its determining the Future.

1.3000 level going to be institutional flow back and forth
Simple minded people. The gbp is up on the news because Javid wanted a hard brexit. Now that he quit the odds of that happening is less
Quoting Devas1
Simple minded people. The gbp is up on the news because Javid wanted a hard brexit. Now that he quit the odds of that happening is less
Yes.. after his FT interview last month.. that makes sense..
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Quoting RossEdwards
{quote} Yes.. after his FT interview last month.. that makes sense..
Brexit has already happened so I can't understand why that will still be relevant.
Quoting rimazuc
{quote} Brexit has already happened so I can't understand why that will still be relevant.
You dont understand still. Hard Brexit is different. Yes brexit happened but hard brexit is with no eu trade deal. Frankly im on javids side however this is why its up. Him leaving made globalists happy that uk will still have a chance to be eus pet through trade deals via no hard brexit
Quoting rimazuc
{quote} Brexit has already happened so I can't understand why that will still be relevant.
You gota be kidding? Its not even STARTED..
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Quoting RossEdwards
{quote} You gota be kidding? Its not even STARTED..
Im glad someone sees what i say. Lol. Thank you
Quoting RossEdwards
{quote} You gota be kidding? Its not even STARTED..
Yee haaa
Quoting Devas1
{quote} You dont understand still. Hard Brexit is different. Yes brexit happened but hard brexit is with no eu trade deal. Frankly im on javids side however this is why its up. Him leaving made globalists happy that uk will still have a chance to be eus pet through trade deals via no hard brexit
Ah yes, thank you for you're insight, I was struggling to understand how people will see this as a positive for GBP
Core cpi for dollar hit inflation. Fed needs to raise rates
That fast silly unnecessary choo choo train, which they call HS1 is probably the reason why he resigned. Boris is a clown, just like Priti Patel (Aka Ugly Patel ). Javid done the right thing, he will be better off joining the Labour party.
Quoting Devas1
Simple minded people. The gbp is up on the news because Javid wanted a hard brexit. Now that he quit the odds of that happening is less
Um, the new guy, ex-sax Rishi Sunak also "wanted a hard Brexit".
Weak leaders sack their people being against themselves.
Strong leaders keep their also their people in "opposition" to have an open discussion to find solutions out of the box.
BoJo, like his big brother Donald, is a weak leader.
Quoting Eccles
{quote} Um, the new guy, ex-sax Rishi Sunak also "wanted a hard Brexit".

Not really. He did that to get on Javid's cabinet. He is a flip flopper and leader pleaser. He is not for hard brexit. He is a two faced snake. And i wont be surprised if he plotted with boris to force javids resignation. If this guy was for hard brexit he would have resigned with javid
Most manipulated currency of the year GBP
Make it Green
Quoting Devas1
{quote} Not really. He did that to get on Javid's cabinet. He is a flip flopper and leader pleaser. He is not for hard brexit. He is a two faced snake. And i wont be surprised if he plotted with boris to force javids resignation. If this guy was for hard brexit he would have resigned with javid
Agreed. But Lets be clear, the new REAL Chancellor is Dominic Cummins.
Bit confusing really because he appears already to be the REAL PM.
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GBP will move down tomorrow, let see what happen during their time
Whatever anyone thinks about Javid, he understands finance and economy. He is also one of the top Tories. My guess is he knows that the Treasury is already in deep sh!thole due to the Brexit induced economy slump and things can only go south from here. He just does not want the people to think he has anything to do with it. Mind you, he has resigned 4 weeks prior to releasing his budget.
  •  Guest
  • | IP XXX.XX.64.20
Ok.. Nothing to do with Brexit... The new chancellor is more likely to push fiscal policy to drive the economy which puts less pressure on the Bank of England to cut rates... Hence why the Pound rose.....
Quoting Guest
Ok.. Nothing to do with Brexit... The new chancellor is more likely to push fiscal policy to drive the economy which puts less pressure on the Bank of England to cut rates... Hence why the Pound rose.....
This is manipulation,how can the market price in fiscal policy that they are sure will help the economy. Oh how about UK walking out without agreement?Pure manipulation.GBP is dead.Heading down 1.23level
Make it Green
Quoting louisfx
{quote} This is manipulation,how can the market price in fiscal policy that they are sure will help the economy. Oh how about UK walking out without agreement?Pure manipulation.GBP is dead.Heading down 1.23level
That was a good call mate.. Hope you traded it.
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Quoting rimazuc
{quote} Brexit has already happened so I can't understand why that will still be relevant.
But not from Javid himself... He got the treasury job so he danced by the tune of his PM, now he's gone but B. Johnson is still there... Now your turn.
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  • | IP XX.XX.14.82
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  • Posted: Feb 13, 2020 6:57am
  • Submitted by:
     Newsstand
    Category: High Impact Breaking News
    Comments: 37  /  Views: 21,762