Even after the biggest drop of any major currency in the first two months of the year, the pound is still overvalued as both Pacific Investment Management Co. and hedge fund FX Concepts LLC bet it will fall further.
Max Keiser
Financial War Reports
Even after the biggest drop of any major currency in the first two months of the year, the pound is still overvalued as both Pacific Investment Management Co. and hedge fund FX Concepts LLC bet it will fall further.
Exchange Rates Graph (Australian Dollar, British Pound) – X-Rates
Cheaper amazon.co.uk purchases here we come, yo.
tl;dr so my question to those that did….
Is this a sign of no confidence in the UK economy or a sign of no confidence in Carney to do anything other than hit CTRL+P?
In many ways this sort of misses the point, which is that no nation on Earth is more dependent on bankers than the British. Once the banks go after Crash2, they’ll have nothing.
So who cares of the Pound falls into the sewer? What matters is when the banks fall over and there’s no money to bail them out. See how Barclays is already having to resort to desperate measures…
http://hat4uk.wordpress.com/2013/03/05/smoke-signals-24/