Best Excuses?!-The Dog Ate My Homework
Yesterday was the last day for filing 2018 tax returns with the UK’s HMRC and they have shared their own favourite excuses for late or non-filing of returns. Not all of them meet the high standards which we all remember from our school days but here are a few of the better ones:
-I’m too short to reach the post box
-My boiler had broken and my fingers were too cold to type
-My mother in law is a witch and she put a curse on me
-I was too busy-my first maid has left, I had to dismiss my second maid as she was a thief and the third maid is a slow learner.
There are economic statistics out in both the UK and in the US today, but the most important is the US employment release early this afternoon which is expected to show a healthy increase of 180,000 in the Non-Farm Payroll and unemployment of 3.8%.
In the currency markets the USD remains steady and so miraculously does the GBP with markets giving the UK Parliament the benefit of the doubt as the next weeks will undoubtedly have both advances and setbacks in expectations of the outcome of the brinkmanship negotiations with Brussels. Meanwhile we have to hope that there will be a deal and a deal which is voted through by the UK Parliament and that MPs will have no need to dust off their own very best excuses as to why they have presided over the poor outcome of the UK crashing out of Europe with No Deal.
Have a great weekend.
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Click Here to Subscribe to the SGM-FX Newsletter
Related Insights
Morning Brief – Opportunity for a weaker Dollar
Charles Porter
Thu 1 Jun 2023
Opportunity for a weaker Dollar The passing of month-end allows markets an opportunity to reassess currency valuations. Despite a cooling off within the Dollar as forecasted following the agreement between the White House and Kevin McCarthy, month end flows yesterday showed favourable conditions for a short-term Dollar resurgence. The beginning of June coincided with headlines […]
Morning Brief – Turkish Lira
Humphrey Percy
Wed 31 May 2023
Turkish Lira While President Erdogan removed the uncertainty overhanging the Turkish market by winning the election in the run off over the weekend, the news served to cement the certainty that nothing much was likely to change with respect to Turkish economic policy or indeed the subservient role of the Central Bank of Turkey to […]
Morning Brief – Did EURUSD miss the news?
Charles Porter
Tue 30 May 2023
Did EURUSD miss the news? Over the weekend, the President and the Speaker of the House of Representatives reached a much-awaited deal on the US debt ceiling. The impending constraint on debt could have forced the shutdown of government departments and precluded the US government from servicing costs and existing debts, triggering a default. The […]
