Hey ERIC
I agree with your take. I think stronger GBP specially against $ detrimental to the economic well being of United Kingdom. Exports will suffer and again the vicious cycle will continue. I was told for u.k exports to be profitable with USA GBP need to below 1.45 at this juncture. As always Banks and Hedge funds have their say, they have the ultimate tool "CASH" they can move the market how they want.
I agree with your take. I think stronger GBP specially against $ detrimental to the economic well being of United Kingdom. Exports will suffer and again the vicious cycle will continue. I was told for u.k exports to be profitable with USA GBP need to below 1.45 at this juncture. As always Banks and Hedge funds have their say, they have the ultimate tool "CASH" they can move the market how they want.
DislikedI knew something was suspicious! Think about how much control these guys have - I reckon it was BoE themselves who were driving the price up as a precautionary measure to their announcement.Ignored
BANDA333