Wednesday, Dec 24, 2008
ERM anyone??
Bloomberg: Pound Falls Versus Euro After Report Says House Prices May Drop
“It’s a thin market and there are one or two players out there that are trying to chase this move to parity,” Yu said.
.... perhaps a Mr G Brown and Mr Soros, and please stop telling me the fundamentals are all that is driving this devaluation. Its a case of driving the market down as far as possible for as high a personal gain as possible in as short a time as possible. It would be nice if HMG did something to protect the value of sterling.
Posted by bystander @ 06:04 PM (400 views) Add Comment
1 Comment
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1. Missedtheboat said...
You want the ECB to go to war with the FX market again?
It has been long proven that the Govt cannot protect the exchange rate with market intervention.
Your comments on the FX rate and how the govt should do something to protect it via market intervention have been nothing short of gobsmackingly ludicrous.
You were saying the other day that they should stop the currency speculators. How on earth would they stop currency from being traded? The only way to do that would to go to a fixed exchange and put currency controls in place, something which banana republics generally. It would be tantamount from resigning from the G7 and throwing your lot in with Argentina.