jagfox Posted June 26, 2016 Share Posted June 26, 2016 BoE have a contingency of £250 billion lined up to either sell bonds or a bit more QE. This should work out well in the long run... https://www.theguardian.com/business/2016/jun/24/bank-of-england-mark-carney-says-brexit-contingency-plans-under-way 0 Quote Link to comment Share on other sites More sharing options...
Mortar Bored Posted June 27, 2016 Share Posted June 27, 2016 Barclays share price down over 16% despite a break in trading. Pound still sliding. 0 Quote Link to comment Share on other sites More sharing options...
ayrmad Posted June 27, 2016 Share Posted June 27, 2016 Barclays share price down over 16% despite a break in trading. Pound still sliding. Barclays have suspended their shares. 0 Quote Link to comment Share on other sites More sharing options...
Paco Posted June 27, 2016 Share Posted June 27, 2016 Pound continuing to crash. Down at €1.19, having been at €1.30 on Thursday. The dollar is at $1.32 and tumbling... 0 Quote Link to comment Share on other sites More sharing options...
Savage Henry Posted June 27, 2016 Share Posted June 27, 2016 Pound continuing to crash. Down at €1.19, having been at €1.30 on Thursday. The dollar is at $1.32 and tumbling... This isn't just a "blip". 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted June 27, 2016 Share Posted June 27, 2016 It's already recovering As I predicted last night. The markets always over-react, presenting opportunities for the hedge funds and bargain hunters. Recovering well too. Every time I check the GBP/CHF rate I seem to be earning more beer tokens than I was in the few minutes previous. 0 Quote Link to comment Share on other sites More sharing options...
Bishop Briggs Posted June 27, 2016 Share Posted June 27, 2016 Pound continuing to crash. Down at €1.19, having been at €1.30 on Thursday. The dollar is at $1.32 and tumbling... The markets are trying to force the Bank of England to intervene and buy Sterling. It's a classic way of making a quick profit. The Chancellor's pre-referendum scaremongering is coming back to haunt him. The markets did not believe his statement this morning. Then there was the lack of a Downing Street contingency plan for a Brexit vote - despite the closeness of the polls. The PM chose the coward's way out and resigned. It's no surprise the markets are in turmoil. Cameron and Osborne have been reckless and negligent. 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted June 27, 2016 Share Posted June 27, 2016 The markets are trying to force the Bank of England to intervene and buy Sterling. It's a classic way of making a quick profit. The Chancellor's pre-referendum scaremongering is coming back to haunt him. The markets did not believe his statement this morning. Then there was the lack of a Downing Street contingency plan for a Brexit vote - despite the closeness of the polls. The PM chose the coward's way out and resigned. It's no surprise the markets are in turmoil. Cameron and Osborne have been reckless and negligent. Cameron done exactly what anyone with half a brain would have done off the back of that vote. It's bad enough he'll be remembered as the guy who let it get this far, but no one on any side will want to be remembered as being the guy who actually pushed the button. The short to medium term impact will see you considered somewhere between Thatcher and Myra Hindley to the average working class Brit. 0 Quote Link to comment Share on other sites More sharing options...
Mortar Bored Posted June 27, 2016 Share Posted June 27, 2016 Barclays have suspended their shares. Again? I know bank shares automatically suspend if they lose or gain 8% in a day, I guess hitting 16% triggered it for the second time? 0 Quote Link to comment Share on other sites More sharing options...
Mortar Bored Posted June 27, 2016 Share Posted June 27, 2016 The oil price was showing a slight recovery earlier. I've effectively had a >10% pay increase due to being paid in AED, but I'd swap that in a second to reverse that vote* *Unless it leads to independence within the EU. 0 Quote Link to comment Share on other sites More sharing options...
DigOutYourSoul Posted June 27, 2016 Share Posted June 27, 2016 It's fine. Boris is claiming the pound and FTSE are stable. Considering buying dollars now as they're forecasting another 10% fall by the end of the year. Glad I didn't buy any last week as I was confident of a Remain vote. 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted June 27, 2016 Share Posted June 27, 2016 I checked my pension fund this morning and I wasn't happy. That's before trading in some of the funds (mainly FTSE trackers) takes place. 0 Quote Link to comment Share on other sites More sharing options...
Enigma Posted June 27, 2016 Share Posted June 27, 2016 The markets are trying to force the Bank of England to intervene and buy Sterling. It's a classic way of making a quick profit. To what extent do you think the pound will recover in the foreseeable future? 0 Quote Link to comment Share on other sites More sharing options...
Mr Bairn Posted June 27, 2016 Share Posted June 27, 2016 The highlight of this thread is a bunch of absolute clowns pretending to know how forex works. Diddies. 0 Quote Link to comment Share on other sites More sharing options...
Bishop Briggs Posted June 27, 2016 Share Posted June 27, 2016 (edited) To what extent do you think the pound will recover in the foreseeable future? It's difficult to say. There will be uncertainty until the Conservative members elect their new Leader (from the two finalists chosen by MPs) in September. The candidates will have to state their Brexit strategy very clearly. That could influence the MPs ballot considerably. The leading candidates' statements will certainly have an impact on the markets. Another factor will be the exchange rate strategies that are pursued by the Bank of England and other central banks, especially the ECB. The traders, especially George Soros, made a fortune out of the ERM crisis and this is another to make money at the expense of the BoE. They may try to force intervention by aggressive shorting. ETA - the stock market is substantially above the 52 week lows. Edited June 27, 2016 by Bishop Briggs 0 Quote Link to comment Share on other sites More sharing options...
killienick Posted June 27, 2016 Share Posted June 27, 2016 FTSE 250 is far more relevant to the UK economy than the 100 which is weighted by capitalisation due to the multinational nature of it make up. 250 is not recovering at all. Please stop referring to the 100 as 'the markets', it is a market but basically just shows how our biggest companies are trading. 0 Quote Link to comment Share on other sites More sharing options...
Mortar Bored Posted June 27, 2016 Share Posted June 27, 2016 The highlight of this thread is a bunch of absolute clowns pretending to know how forex works. Diddies. What clowns? 0 Quote Link to comment Share on other sites More sharing options...
killienick Posted June 27, 2016 Share Posted June 27, 2016 Here is the 250 currently. 0 Quote Link to comment Share on other sites More sharing options...
Mortar Bored Posted June 27, 2016 Share Posted June 27, 2016 FTSE 250 is far more relevant to the UK economy than the 100 which is weighted by capitalisation due to the multinational nature of it make up. 250 is not recovering at all. Please stop referring to the 100 as 'the markets', it is a market but basically just shows how our biggest companies are trading. This. 0 Quote Link to comment Share on other sites More sharing options...
Bishop Briggs Posted June 27, 2016 Share Posted June 27, 2016 Melvyn King, former Governor of the Bank of England - http://www.bbc.co.uk/news/uk-politics-eu-referendum-36641046 "Volatility in UK shares following the vote to leave the EU is "no reason for any of us to panic", the former governor of the Bank of England says. "Lord Mervyn King predicted the long-term effect of a Brexit on GDP would turn out to be "a bit of a fuss about nothing". "In a BBC interview, he also accused the Remain campaign of treating people considering voting Leave like "idiots". "He said voters had not been impressed by "scaremongering tactics"." 0 Quote Link to comment Share on other sites More sharing options...
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