Icantbelieveitsnotbutter Posted June 4, 2009 Share Posted June 4, 2009 ..has Christmas come early.... Quote Link to comment Share on other sites More sharing options...
rw42 Posted June 4, 2009 Share Posted June 4, 2009 Why would they go down if he resigned? maybe they're celebrating? Quote Link to comment Share on other sites More sharing options...
Kyoto Posted June 4, 2009 Share Posted June 4, 2009 ..has Christmas come early.... Guido reckons people were cheering in the dealing rooms. Sadly denied by number 10. Quote Link to comment Share on other sites More sharing options...
Icantbelieveitsnotbutter Posted June 4, 2009 Author Share Posted June 4, 2009 Guido reckons people were cheering in the dealing rooms. Sadly denied by number 10. number 10 denied Blears had resigned after she had resigned.... Quote Link to comment Share on other sites More sharing options...
three pint princess Posted June 4, 2009 Share Posted June 4, 2009 (edited) Reuters is flashing http://uk.reuters.com/article/ukPoundRpt/i...101359320090604 Stg, UK shares fall on UK political concerns Thu Jun 4, 2009 1:18pm BST LONDON, June 4 (Reuters) - Sterling fell sharply against the dollar while UK share prices tumbled on Thursday, on speculation British Prime Minister Gordon Brown would resign, which was quickly dismissed by his office. The pound fell more than 1.0 percent on the day to a session low of $1.6082 <GBP=D4> before recovering to above $1.62. Britain's FTSE 100 .FTSE was down 0.3 percent at 4,371.30. Speculation in financial markets that Brown is resigning is "absolute nonsense", his office said on Thursday. (Reporting by London forex team) Edit: 31 minutes ago it was up? Aaccording to what everyone thinks it should recover same as the UK downgrade. Edited June 4, 2009 by Tom Peters Quote Link to comment Share on other sites More sharing options...
deadman Posted June 4, 2009 Share Posted June 4, 2009 Stop getting me all excited! Quote Link to comment Share on other sites More sharing options...
SarahBell Posted June 4, 2009 Share Posted June 4, 2009 additional QE causing issues? Quote Link to comment Share on other sites More sharing options...
three pint princess Posted June 4, 2009 Share Posted June 4, 2009 (edited) PM's office says resignation talk is "nonsense" Thu Jun 4, 2009 1:41pm BST LONDON (Reuters) - Speculation in financial markets that Prime Minister Gordon Brown is resigning are "absolute nonsense," his office said on Thursday. The pound moved sharply lower against the dollar in midday trade with dealers citing talk of Brown stepping down. (Reporting by Kate Kelland. Editing by ) http://uk.reuters.com/article/topNews/idUKTRE5533J120090604 Seems to be reverting to status prior to rumour Edited June 4, 2009 by Tom Peters Quote Link to comment Share on other sites More sharing options...
ParticleMan Posted June 4, 2009 Share Posted June 4, 2009 Why would anything that cretin does shift the USDJPY contract? Quote Link to comment Share on other sites More sharing options...
Guest KingCharles1st Posted June 4, 2009 Share Posted June 4, 2009 It would be a mark of the man to resign unannounced, and not face up to the humiliation in public Quote Link to comment Share on other sites More sharing options...
bobthe~ Posted June 4, 2009 Share Posted June 4, 2009 It would be a mark of the man to resign unannounced, and not face up to the humiliation in public Oi. You should be in bed. Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted June 4, 2009 Share Posted June 4, 2009 It comes to something when No 10 has to deny that the Prime Minister has resigned. Quote Link to comment Share on other sites More sharing options...
Guest KingCharles1st Posted June 4, 2009 Share Posted June 4, 2009 Oi.You should be in bed. Quote Link to comment Share on other sites More sharing options...
davidcameron Posted June 4, 2009 Share Posted June 4, 2009 Political uncertainty is not going to help sterling in the very near term (but don't forget it's risen about 13% against the $ in a very short space of time), but my view is that a general election will be good for the pound as soon as it's out of the way. S&P has seen to that and put the incoming on notice to sort out the deficit as a matter of urgency. The uncertainty is whether a new labour PM would feel compelled to seek a mandate straight away or try and limp along till next May without. I think it would be hard to sell this to a jumpy electorate but you never know with this lot. Buy sterling on any pullback because the dollar looks worse and the Latvia situation is a going to be a big test for the Euro. Quote Link to comment Share on other sites More sharing options...
three pint princess Posted June 4, 2009 Share Posted June 4, 2009 (edited) http://ftalphaville.ft.com/blog/2009/06/04...ing-the-brownt/ Here’s a live example of “false news shock“ - the tendency of erroneous news to move markets even after it is proved to be wrong. Just after 1pm on Thursday, Sterling jackknifed - falling from 1.64 to the dollar to a low of 1.61 and moving above 0.87 to the euro. Someone called Sugardaddy posted this on Dealbreaker in New York at 8.04, EST - causing the “rumor†to be emailed across dealing rooms. It’s not true, of course. Thursday was polling day in Britain, with 34 local councils holding elections along with European parliamentary elections. Whatever trouble Brown is in, it would be very odd indeed if he were to resign today. Despite a firm denial from No10, who described the rumour as “absolute nonsense,†sterling only managed a partial recovery. This entry was posted by FT Alphaville on Thursday, June 4th, 2009 at 13:43 and is filed under Capital markets, People. Tagged with currencies, gordon brown, sterling. Edited June 4, 2009 by Tom Peters Quote Link to comment Share on other sites More sharing options...
Methinkshe Posted June 4, 2009 Share Posted June 4, 2009 Surely, the point is that the rumour was believable. Had that not been the case it would never have taken wing. It is that kind of uncertainty that markets hate and which can be so undermining of a currency - as if there were not already sufficient fundamentals to do the job. Gordon Brown must step down if he has the interest of the country at heart. Until he does, uncertainty will be the order of the day and it will be reflected in GBP. (And that doesn't stand for Gordon Brown Pounds, either, although it might just as well while he continues his dithering.) Quote Link to comment Share on other sites More sharing options...
BalancedBear Posted June 4, 2009 Share Posted June 4, 2009 Political uncertainty is not going to help sterling in the very near term (but don't forget it's risen about 13% against the $ in a very short space of time), but my view is that a general election will be good for the pound as soon as it's out of the way. S&P has seen to that and put the incoming on notice to sort out the deficit as a matter of urgency. The uncertainty is whether a new labour PM would feel compelled to seek a mandate straight away or try and limp along till next May without. I think it would be hard to sell this to a jumpy electorate but you never know with this lot. Buy sterling on any pullback because the dollar looks worse and the Latvia situation is a going to be a big test for the Euro. Sterling has not really been gaining much, it is more about the dollar collapsing in recent weeks. Quote Link to comment Share on other sites More sharing options...
R K Posted June 4, 2009 Share Posted June 4, 2009 (edited) Edit: Sorry I'm on the wrong time zone. It was just before 1.00pm. Still, naughty naughty......... Edited June 4, 2009 by Red Kharma Quote Link to comment Share on other sites More sharing options...
Harry North Posted June 4, 2009 Share Posted June 4, 2009 (edited) JP/CHASE had 5 bio USDS to buy as a result of the Rio/Chinalco deal against GBP and AUD hence both lower Edited June 4, 2009 by Harry North Quote Link to comment Share on other sites More sharing options...
messychopper Posted June 4, 2009 Share Posted June 4, 2009 ..has Christmas come early.... If you were short quids on FX it was Xmas Quote Link to comment Share on other sites More sharing options...
shindigger Posted June 4, 2009 Share Posted June 4, 2009 Surely, the point is that the rumour was believable. Had that not been the case it would never have taken wing.It is that kind of uncertainty that markets hate and which can be so undermining of a currency - as if there were not already sufficient fundamentals to do the job. Gordon Brown must step down if he has the interest of the country at heart. Until he does, uncertainty will be the order of the day and it will be reflected in GBP. (And that doesn't stand for Gordon Brown Pounds, either, although it might just as well while he continues his dithering.) Theres ya problem guvnor. Quote Link to comment Share on other sites More sharing options...
three pint princess Posted June 4, 2009 Share Posted June 4, 2009 JP/CHASE had 5 bio USDS to buy as a result of the Rio/Chinalco deal against GBP and AUD hence both lower i heard Xiong Weiping just had a Heart Attack! Quote Link to comment Share on other sites More sharing options...
Errol Posted June 4, 2009 Share Posted June 4, 2009 They'll have to be an election if he resigns. There's no way we can have another Prime Minister with no election. Quote Link to comment Share on other sites More sharing options...
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