So much to write about so many different aspects of the political maelstrom in which UK plc is currently being buffeted, but in the end it comes down to just three potential outcomes:
1. NoDeal Exit. 2. Exit with a Deal. 3. No Exit.
Such is the frustration caused by all this in the markets, that incredibly and very dangerously, the current perceived “wisdom” is that it would be better/less bad for Boris Johnson’s government to be replaced by a Jeremy Corbyn led coalition government. Unfortunately the collective market memory does not go back 50 years to the decade of 1969 to 1979. If it did, there would be NO flirting with such a dangerous and damaging concept. But that is where we are and while GBP is slightly weaker than the highs of the end of last week, it is unwisely and naively partly buoyed by this latest thinking.
No nothing to do with trade, but rather to do with the Al Thani rulers being impervious to the practical problems of Qatar hosting the World Athletics Championships by insisting on not relaxing the rule of segregated gyms. As long as female athletes have female trainers, no problem, but all too frequently this is not the case -and vice versa with male athletes.
It does beg the question of just how footballers will manage in the absence of their very many female gym trainers in pursuit of the World Cup in Qatar in 3 years time.
We wrote at the time of the launch of the Indian space mission Chandrayaan 2 back in July of the quest to put an Indian vehicle on the surface of the Moon. On Saturday morning the lander vehicle probe named Vikram disappeared from monitor screens as it approached the Moon’s surface to the consternation of mission control in Bengaluru. So the quest for India to be the first nation to reach the Moon’s South Pole looks to be over. No chapatis and champagne this weekend and it’s back to the drawing board.
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Why GBPEUR may still move lower Despite a significant leg downwards in late 2022, it seems plausible, indeed likely, that GBPEUR may have further to fall. Late last year and in early 2023, GBPEUR has stabilised with its fall from the teens proving sufficient to redress the changing fundamentals and flows across the currency pair. […]
Short covering Evidence from the CME provides an interesting qualification to the CFTC positioning data that GBP investors have been watching closely. For many years now, markets have held a net short position on GBP, fluctuating from more neutral grounds through to a heavy focus upon achieving selling conviction behind the Pound at times. […]
The Hunt is on: UK Budget and the Global Population The Autumn budget is drawing closer with Jeremy Hunt, Chancellor of the Exchequer within Rishi Sunak’s government, due to announce the measures to the House of Commons on Thursday. Sterling had a rocky start to the week yesterday with major crosses falling as the […]