This week unkind wags have renamed the Great British Pound the Great British Peso in a reference to the gyrations of GBP which are more akin to an emerging market currency than a mainstream one. Those of us with longer memories view the current 1-2 cent moves on the day with less trepidation, but what it does mean as we have headlined here in the past weeks, is that GBP will be more volatile in this period of heightened political uncertainty in the UK. In the meantime GBP is enjoying one of its best weeks in the past two months with strong gains in both GBP/EUR and GBP/USD.
Telluride Film Festival
Adam Sandler’s new film Uncut Gems premiered at the festival this week and achieved a perfect score from review aggregator site Rotten Tomatoes. Due for release in the USA on 25th December, it’s going to be a must see film: watch this space. Skiers among you should consider a trip to the picturesque Colorado gold and silver mining town situated in a box canyon which offers some of the very best ski-ing in the Rockies. Music lovers should check out the 46th Annual Bluegrass Festival June 18-21 2020 which I am informed is even bigger than the Grasmere Guzzler featured earlier in the week(!)
Hard pressed Londoners on the Northern Line who have been sweltering on the underground this summer in heat of 45c+ are mollified to hear that Transport For London have finally woken up to the potential of all that hot air and have drawn up plans to heat no less than 1,350 Islington homes by pumping it out. TFL are obviously on a roll and have already been in touch with SGM-FX management to enquire about diverting some of our colleagues’ non FX related ramblings (obviously no names) to replace one of the London power stations.
Discussion and Analysis by Humphrey Percy, Chairman and Founder
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