You could argue a large part of the reason the pound sunk so low was down to the BoE

The city boys smelled blood - a newly installed vulnerable government and a central bank dithering on hiking rates…..
The BoE need to really hike rates in the next couple of months as they are behind the curve.
The US Fed have hiked rates as required, which partly explains why the USD is so strong.

Posted By: JoeyDeacon on October 5th 2022 at 17:49:07

Message Thread

I see the pound has dropped again since Thick Lizzie spoke (n/m) (General Chat) - jamesward, Oct 5, 16:01:39
- Hmm 1.15 to 1.15 (General Chat) - Sonic, Oct 5, 18:53:36
  - That’s the euro lol (General Chat) - SCC 28, Oct 5, 19:00:44
    - No it hasn’t. See the data (n/m) (General Chat) - Sonic, Oct 5, 21:49:48
- Logs on, checks market data, rolls eyes, logs off... (n/m) (General Chat) - Timmy_Goat, Oct 5, 17:35:38
  - Well it has so not sure what you’re on about (n/m) (General Chat) - jamesward, Oct 5, 17:58:26
    - Sterling has 'plunged' from €1.147 to €1.145? (General Chat) - Timmy_Goat, Oct 5, 19:19:57
      - Was talking against the dollar (General Chat) - jamesward, Oct 5, 20:46:49
        
        Every currency has fallen against the dollar (General Chat) - Timmy_Goat, Oct 5, 21:22:46
        
        Not many have falled 25% in a around 7 months (n/m) (General Chat) - Cable Gap Pioneer, Oct 5, 22:04:13
- It’s at 1.13 US to GBP currently (General Chat) - JoeyDeacon, Oct 5, 16:56:25
  - maybe because it was at £1.36 on this day last year (General Chat) - Cable Gap Pioneer, Oct 5, 18:45:30
    - Was also 1.36 less than 8 months ago (n/m) (General Chat) - SCC 28, Oct 5, 18:49:38
      - Yes, apparently not convenient to mention that in this 'recovery' (n/m) (General Chat) - Cable Gap Pioneer, Oct 5, 19:57:50
  - I was talking about today though (n/m) (General Chat) - jamesward, Oct 5, 18:00:39
  - After the intervention of the BoE. (n/m) (General Chat) - The Gaffer, Oct 5, 17:41:27
    - You could argue a large part of the reason the pound sunk so low was down to the BoE (General Chat) - JoeyDeacon, Oct 5, 17:49:07
      - The pound sank because the goverment pledged both tax cuts and spending (General Chat) - Knitted Jesus, Oct 5, 18:01:26
  - A truly dreadful rate (General Chat) - SCC 28, Oct 5, 17:40:40
    - Kim Kardashian? (n/m) (General Chat) - Ken Breadstick, Oct 5, 18:14:28

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