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The Pound takes a hammering ..... again!

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Re: The Pound takes a hammering ..... again!

Postby Paphitis » Mon Oct 17, 2016 2:58 pm

And as expected and true to form. Australian, US, Chinese, Japanese, German, French Markets flatlined for over a week before plunging 1% today as Trillions are pulled and injected into the FTSE and London. :lol:
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Re: The Pound takes a hammering ..... again!

Postby Tim Drayton » Mon Oct 17, 2016 5:09 pm

You've got to hand it to these speculators. They are good. Apparently they've moved trillions into GBP priced assets in the space of one day without moving the GBP exchange rate one little bit.
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Re: The Pound takes a hammering ..... again!

Postby Paphitis » Mon Oct 17, 2016 5:45 pm

Tim Drayton wrote:You've got to hand it to these speculators. They are good. Apparently they've moved trillions into GBP priced assets in the space of one day without moving the GBP exchange rate one little bit.


I don't think it has hapenned yet. First you got to capitalize. It does take time. Not a lot but they won't just jump in Willy Nilly. Maybe the GBP will fall by another 5 to 10%.

But they are ready and also watching.

I was commenting on the staleness of other markets in comparison to the British Markets. Trade is down which could be a sign.
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Re: The Pound takes a hammering ..... again!

Postby Maximus » Mon Oct 17, 2016 9:42 pm

Apparently and according to who?

The exchange rate didnt move one little bit, really? I see blood on the streets.
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Re: The Pound takes a hammering ..... again!

Postby Tim Drayton » Tue Oct 18, 2016 10:34 am

Maximus wrote:Apparently and according to who?

The exchange rate didnt move one little bit, really? I see blood on the streets.


No, it is all a figment of somebody's imagination, mate. Apparently, 'you got to capitalize' and that, seemingly, takes time. I have no idea that that is supposed to mean. I have been trading shares all my life and as far as I know it works on a T+2 or T+3 basis, i.e. you get hard cash in two or three days after you sell shares and, since settlement is also on a T+2 or T+3 basis when you buy, you can usually but with the proceeds of one sale on the same day or the next day given that you don't have to pay until two to three days after the trade.
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Re: The Pound takes a hammering ..... again!

Postby miltiades » Thu Oct 20, 2016 8:22 am

Encouraging StG performance over the last 3 days, standing at just under 1.12 euros and 1.23 US $.

A glimmer of hope ?

Monday I made a small transaction in euros using the same brokers that I have used for a number of years, I had a long chat with an operative and asked of his and his team's opinions, predictions etc. Apparently he tells me that Stg will soon settle at around 1.15 euros, way down of course from the pre Brexit vote but nevertheless encouraging .

I'm not so confident of this happening but I do hope it does stabilize at least at the level of 1.15.

I expressed to him my own views but respected the fact that he and his team are far more involved in currencies than I'm .
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Re: The Pound takes a hammering ..... again!

Postby Tim Drayton » Thu Oct 20, 2016 8:34 am

That's good news. I'm hoping for it to stabilise, too, as about three-quarters of my invoices are in GBP these days and I could do without this chaos.
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Re: The Pound takes a hammering ..... again!

Postby Londonrake » Thu Oct 20, 2016 11:56 am

miltiades wrote:Encouraging StG performance over the last 3 days, standing at just under 1.12 euros and 1.23 US $.

A glimmer of hope ?

Monday I made a small transaction in euros using the same brokers that I have used for a number of years, I had a long chat with an operative and asked of his and his team's opinions, predictions etc. Apparently he tells me that Stg will soon settle at around 1.15 euros, way down of course from the pre Brexit vote but nevertheless encouraging .

I'm not so confident of this happening but I do hope it does stabilize at least at the level of 1.15.

I expressed to him my own views but respected the fact that he and his team are far more involved in currencies than I'm .


I hope you're right Milti and things take an upturn. Albeit just a gradual one at present. A little less pain for you perhaps (Well, for us all!) :D .

I do find it difficult not to conclude though that those who can influence sterling are using a "carrot and stick" strategy in order to manipulate opinion. Talk of "Hard Brexit" the £ drops. Talk of involving Parliament in the Brexit negotiating process, the £ recovers.

Perhaps though I am just being............................... conspiratorial. :shock: :lol: :wink:
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Re: The Pound takes a hammering ..... again!

Postby miltiades » Thu Oct 20, 2016 12:43 pm

Naturally investors are concerned about the impact Brexit, WHEN AND IF IT HAPPENS, would have on STG and the British economy.

Undoubtedly any encouraging news on a parliamentary vote such as" House of Lords slams brakes on Brexit – saying Article 50 MUST be agreed by Parliament" would would have a significant impact on Sterling.
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Re: The Pound takes a hammering ..... again!

Postby Lordo » Thu Oct 20, 2016 3:46 pm

Londonrake wrote:
miltiades wrote:Encouraging StG performance over the last 3 days, standing at just under 1.12 euros and 1.23 US $.

A glimmer of hope ?

Monday I made a small transaction in euros using the same brokers that I have used for a number of years, I had a long chat with an operative and asked of his and his team's opinions, predictions etc. Apparently he tells me that Stg will soon settle at around 1.15 euros, way down of course from the pre Brexit vote but nevertheless encouraging .

I'm not so confident of this happening but I do hope it does stabilize at least at the level of 1.15.

I expressed to him my own views but respected the fact that he and his team are far more involved in currencies than I'm .


I hope you're right Milti and things take an upturn. Albeit just a gradual one at present. A little less pain for you perhaps (Well, for us all!) :D .

I do find it difficult not to conclude though that those who can influence sterling are using a "carrot and stick" strategy in order to manipulate opinion. Talk of "Hard Brexit" the £ drops. Talk of involving Parliament in the Brexit negotiating process, the £ recovers.

Perhaps though I am just being............................... conspiratorial. :shock: :lol: :wink:

was it not you who claimed that it was all scaremongering on behalf of the remainers. you got what you wanted and you will suffer the pain once we are out. what we have seen so far is nothing compared to what we are going to suffer once we are out. the only problem is that some of us did not want it and will also suffer the consequences. what can you do when stiupid people allow themslelves to be led by people who are more stupid themselves and are too stupid to realise it.
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