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.
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
Click Here to Subscribe to the SGM-FX Newsletter
Related Insights
Daily Brief – Fifty Up
Humphrey Percy
Wed 2 Oct 2024
Fifty Up Exactly 50 years ago today I set out on my career in the City of London. Many of the men whom I worked with wore bowler hats and smoked pipes. Discount House men wore morning dress and top hats. Everyone wore two or three piece suits and black shoes. If you wore brown […]
Daily Brief – China
Humphrey Percy
Mon 16 Sep 2024
China A snapshot of China today gives more than a strong indication of the likely effect on the rest of the world’s economies. In August, China had record breaking temperatures – the highest for 60 years which was further exacerbated by thunderstorms which affected agriculture sending vegetable prices 22% higher than 1 year before. Despite […]
Daily Brief – Berlin and Rome
Humphrey Percy
Fri 27 Sep 2024
Berlin and Rome As we have written several times recently the German car industry is going through tough times as is the Italian car industry especially given the hard date of 2035 when the sales of diesel and petrol fuelled cars will no longer be permitted. Now their respective governments are indicating a softening of […]
