miltiades wrote:I have been an ardent watcher of financial markets for half a century now. The one thing I have learned is the volatility of markets be it the currency one or stocks.
I was extremely pleased when at just after the election exit polls predicted a Tory majority, at least in financial terms, Sterling shot up by 2 cents on the euro touching 1.205 . The markets reacted promptly in the knowledge that stability was returning to the political scene at last. In fact tge markets were reacting prior to Thursday 12th of January on the strength of election polls. Well it didn't last long, by yestetday Tuesday 17th Stg was traded below the pre election news and it seems that the current downward trend is continuing. Brexit looming, uncertainty in the UK economy will continue for some time yet. I can not predict the level that Stg will be at by the end of this month, suffice to say I have today converted my Stg to euros. I have always believed that Brexit is bad for the UK economy and apparently so does the financial world. I see no viable reason as to why would Stg strengthen in the forthcoming months. I even believe that come Brexit day, January 31st 2020, the pound will be below 1.10 euro.
Time will tell....
How is that short-lived recovery working for you Milti...?
miltiades wrote: I see no viable reason as to why would Stg strengthen in the forthcoming months. I even believe that come Brexit day, January 31st 2020, the pound will be below 1.10 euro.
Another of your amazing predictions on par with Hunt being the next PM!