Pound Is Tanking Today...

[neon tetra]

0.3% vs most currencies. Is it the UKIP effect?

[crashmonitor]

Seems to be a lot of dangers on the horizon the Scottish referendum, slowing property prices and UKIP.... investors are taking a bit of a risk flirting with $1.70.

Edited May 28, 2014 by crashmonitor

[Bloo Loo]

GREAT FOR EXPORTS...well, makes them cheaper, but of course, lowers the GDP in that department.

[zugzwang]

Our creditors have finally realised that the UK is bankrupt?

[Oliver Sutton]

Tanking?

Are you taking the gypsies?

[blackgoose]

Talk about an anticlimax. 0.3% is not what I would describe as tanking.

[@contradevian]

Not really tanking. GBPUSD has been in a phase of being shorted as it pulls back into supply, however the dollar index is moving into a supply area so it could turn round.

Now the yellow stuff, that has been falling as it tries to find demand. Of course if you listen to Max Keiser its down to some fiendish Western plot

[19 year mortgage 8itch]

0.3% vs most currencies. Is it the UKIP effect?

No one gives a fig about UKIP.

Its because Nationwide have got jitters on the UK housing market.

[neon tetra]

Sorry, tanking was a bit strong. But as it was across the board falls I was wondering what the reason is.

[Killer Bunny]

0.3% vs most currencies. Is it the UKIP effect?

Cough. 0.3% is tanking????

No, it has ZERO to do with politics. Trendline showed £ likely to come back to it. What it does now is important. It sits right on TL.

[Killer Bunny]

Not really tanking. GBPUSD has been in a phase of being shorted as it pulls back into supply, however the dollar index is moving into a supply area so it could turn round.

Now the yellow stuff, that has been falling as it tries to find demand. Of course if you listen to Max Keiser its down to some fiendish Western plot

And ZH.

[Democorruptcy]

No one gives a fig about UKIP.

Its because Nationwide have got jitters on the UK housing market.

Seems a reasonable assumption to me. Particularly as before is was assumed that the governbankment would bail banks out on property losses but now it is guaranteed via Help to Buy. So any negative house price news is bad for the governbankment and so the currency.

My old Halifax v GBP/USD updated

[council dweller]

Well, it does seem to have gone 0.85% against the Yen (under 170) so not a bad day.

....wake my up if it goes down by more than 3%.

Edited May 28, 2014 by council dweller

[stuckmojo]

Even against the Singapore Dollar, which has been declining steadily VS GDP for a while. That is good!

[campervanman]

It's the UKIP effect:

"Although UKIP stands no chance of winning any more than a handful of seats in next year’s popular ballot, largely due to Britain’s ‘First Past the Post’ electoral system, the effect which the party’s hugely increased popularity has on Britain’s mainstream parties may see the UK adopt a more isolationist approach to global affairs. The upshot of such an occurrence would be likely to send the Pound Sterling euro exchange rate GBP/EUR lower once again. "

http://www.currencynews.co.uk/forecast/20140527-9232_gbp-to-euro-exchange-rate-forecast-ukip-election-win.html

It's your UKIP future. Third world economy + third world currency.

[@contradevian]

Nothing to do with UKIP, HPI or anything else. I'll probably be long GBPUSD when price action hits a stack of buy orders or stops just below 1.66290.

Also US GDP tomorrow which will probably be dire.

Edited May 28, 2014 by aSecureTenant

[Corruption]

It's the UKIP effect:

"Although UKIP stands no chance of winning any more than a handful of seats in next year’s popular ballot, largely due to Britain’s ‘First Past the Post’ electoral system, the effect which the party’s hugely increased popularity has on Britain’s mainstream parties may see the UK adopt a more isolationist approach to global affairs. The upshot of such an occurrence would be likely to send the Pound Sterling euro exchange rate GBP/EUR lower once again. "

http://www.currencynews.co.uk/forecast/20140527-9232_gbp-to-euro-exchange-rate-forecast-ukip-election-win.html

It's your UKIP future. Third world economy + third world currency.

Christ you lefties really are deluded nutjobs.

Do you not think the LIBLABCON doing all they can over the last 25 years, having created a system most notably in the last 15 where public and private sector debt is what the nation survives on may be the problem?

Or the LIBCONS borrowing over a 100 billion a year?

Its sad that there are people so thick like you who see a party wanting the promised referendum as being the problem .... but you lefty loons despise the people getting what they want when you think your failed way is best.

Edited May 28, 2014 by Corruption

[snowflux]

Christ you lefties really are deluded nutjobs.

Do you not think the LIBLABCON doing all they can over the last 25 years, having created a system most notably in the last 15 where public and private sector debt is what the nation survives on may be the problem?

Or the LIBCONS borrowing over a 100 billion a year?

Its sad that there are people so thick like you who see a party wanting the promised referendum as being the problem .... but you lefty loons despise the people getting what they want when you think your failed way is best.

What makes you think David Woodsmith of Currency News is a lefty loon?

[blobloblob]

Get the tinfoil out, it's Black Thursday.

[Democorruptcy]

Drugs and Prostitution to add £10bn a year to UK GDP from September

http://www.theguardian.com/society/2014/may/29/drugs-prostitution-uk-national-accounts

[Corruption]

What makes you think David Woodsmith of Currency News is a lefty loon?

I was saying Campervn was for his persistent blaming of UKIP for everything, and he is now hunting quotes for nobodies to back him up.

Most of Europe has seen anti EU parties grow in the past week, surely they should all have seen their currencies drop.

[zugzwang]

Drugs and Prostitution to add £10bn a year to UK GDP from September

http://www.theguardian.com/society/2014/may/29/drugs-prostitution-uk-national-accounts

I've heard that the investment division at Barclays is taking issue with the number. They're adamant they spend that much on cocaine and prozzies every single year without fail.