British pound could take another hit

Thus the saying "Buy on the rumor, Sell on the news"

 

Another Bump? it has sat around the 62, 63 mark for a week now

 

It may ... but it should not! Why? Because everyone ALREADY knows that 29th March is Brexit Day and so it should be factored in .... but as markets are illogical then who knows My gut feeling is that the fall in the pound as a reaction to the Brexit YES vote was overdone and it will recover to some extent in the long run. Some say it was already overvalued and Brexit was the excuse to clobber it. Perhaps, but as the EU (hence Euro) is a very weak institution, surviving only on life support, and the $US is overvalued in relation to its debt, I can see a degree of recovery against both those currencies. It is worth remembering that dealers (in stocks, commodities, currencies, etc) HAVE to have a 'herd mentality' because if something does well and you were not invested in it then you are regarded as a useless financial manager ... if as a result of that risk you took to 'follow the herd' you lose heavily, then so what, so did everyone else. In other words it is better not to be too individual because your 'mistakes' will be highlighted (unless you are like the very smart guys who carried out 'The Big Short'!).

 

Coin Mill exchange say at 21.00 hours 63.27

 

Au contraire...direct result Brexit. No doubt imho...wrote about this before the vote. Proved right, I'll buy the beers in 12-18months if things have got worse. After all, I work for a different currency ATM. Petty folk the Tory English, slice their own throats before Johnny Foreigner drives their buses, serves their coffee, walks their wards. Island mentality...and most of them are German to boot. Onward to the breakup of the UK...

 

Do you have to be English to get a free beer?

 

2 Out of 3 pensions in today at 62.33 and 62.87 so it is Ok at the moment.