Monday 16th September 2019
Not the sports results – but not so very different….
The pound is bouncing around day-to-day – reacting to each new twist and turn in every developing news story….
Brexit (or lack of it); Donald Trump’s on-off trade war with China; renewed tensions in the Middle East – all these issues and many more have an effect on the present value and future outlook of pound sterling….
Every official pronouncement, every fresh unfounded rumor and every new element of media speculation adds yet another variable to the simmering pot – leading to another revised market calculation of what the pound is worth against other currencies….
Who knows what the pound might be worth tomorrow morning?
All I can tell you is that this morning the pound was down 15% against the dollar, 13.7% against the euro and 12% against the Japanese yen since the eve of the European Union membership referendum in June 2016….
To put at least one of those figures into its proper context – the pound recently hit a 34-year low against the dollar….
- A writing down of values….
Back in the day when I was a young fool (as opposed to an older one) they had a short segment towards the end of News at Ten when Sandy Gall or Alastair Burnett would report what the pound was worth against the dollar….… Click here to read more