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Post Brexit GBP new low USD 1.2966 heading to 1.2 (Read 470 times)

Squire

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Post Brexit GBP new low USD 1.2966 heading to 1.2
Jul 6^th, 2016 at 10:47am

" ... The 12 month forecast is also cut from 1.35 to 1.16 ..."

It appears that financiers are unimpressed with the post Brexit chaos with nobodies coming out of the shadows to contest leadership as the former leaders flee the consequences of Brexit chaos.

Is this the start of a downward spiral for UK? Will Scotland and Ireland secede?

Cameron has been the worst UK Prime Minister ever.

poundsterlinglive.com/usd/5132-pound-to-dollar-forecast-credit-suisse

Quote:

Credit Suisse have revisited their forecasts for the pound to dollar exchange rate following the UK's vote to leave the European Union on June 23rd and it looks like sub-1.30 levels are on the cards should analysts be correct.

The institutional downgrades to the British pound are coming in thick and fast with analysts at Credit Suisse telling clients they have slashed their projections for the unit.

The cuts to the outlook follow the decision by the United Kingdom to exit the European Union, a scenario that was not factored into the Swiss bank’s previous estimates.

Like the majority of institutional researchers Credit Suisse were factoring in odds of a Remain win at similar levels to that of bookmakers.

The subsequent political fallout in the UK is also more serious than analysts had expected.

Indeed, few saw the resignation of David Cameron as contributing to the already massive uncertainty facing the UK economy...

Credit Suisse are lowering their 3-month GBP/USD forecast to 1.22 from levels 1.58 previously.

The 12 month forecast is lowered from 1.49 to 1.22.

With regards to the pound / euro exchange rate, the 3 month forecast is cut from 1.35 to 1.16.

The 12 month forecast is also cut from 1.35 to 1.16...

« Last Edit: Jul 6^th, 2016 at 11:09am by Squire »

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lee Gold Member Offline Australian Politics Posts: 21166 Gender:	Re: Post Brexit GBP new low USD 1.2966 heading to 1.2 Reply #1 - Jul 6^th, 2016 at 11:58am Is Soros shorting the market again?
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Squire Gold Member Offline Australian Politics Posts: 525 Gender:	Re: Post Brexit GBP new low USD 1.2966 heading to 1.2 Reply #2 - Jul 6^th, 2016 at 2:09pm lee wrote on Jul 6^th, 2016 at 11:58am: Is Soros shorting the market again? I think Boris Johnson and Nigel Farage are doing that.
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Squire Gold Member Offline Australian Politics Posts: 525 Gender:	Its still dropping. Since last post dropped to $1. Reply #3 - Jul 6^th, 2016 at 3:58pm That's nearly a 1% drop in a few hours. Boris and Nigel still hiding. Cameron still running.
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Squire Gold Member Offline Australian Politics Posts: 525 Gender:	Re: Post Brexit GBP new low USD 1.2966 heading to 1.2 Reply #4 - Jul 6^th, 2016 at 10:13pm GBP dropped to USD 1.282 before recovering to $ 1.296. Its still downwardly mobile. The UK post-Brexit recessionary spiral continues. Boris and Nigel still hiding. Cameron still running for the hills.
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AiA

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Re: Post Brexit GBP new low USD 1.2966 heading to 1.2
Reply #5 - Jul 6^th, 2016 at 10:19pm

Squire wrote on Jul 6^th, 2016 at 10:13pm:

GBP dropped to USD 1.282 before recovering to $ 1.296.

Its still downwardly mobile. The UK post-Brexit recessionary spiral continues.

Boris and Nigel still hiding. Cameron still running for the hills.

Won't this give UK exporters a boost? The Japanese were hoping for a weaker yen for that very reason ...

“Jerry, just remember: It’s not a lie … if you believe it.” George Costanza

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Squire

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Re: Post Brexit GBP new low USD 1.2966 heading to 1.2
Reply #6 - Jul 6^th, 2016 at 10:25pm

AiA wrote on Jul 6^th, 2016 at 10:19pm:

Squire wrote on Jul 6^th, 2016 at 10:13pm:

Won't this give UK exporters a boost? The Japanese were hoping for a weaker yen for that very reason ...

Only if the world demands more Worcestershire sauce.

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AiA Gold Member Offline Posts: 18405 Gender:	Re: Post Brexit GBP new low USD 1.2966 heading to 1.2 Reply #7 - Jul 6^th, 2016 at 10:37pm ^^ true. the UK doesn't have much of a manufacturing sector anymore.
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Squire

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Re: Post Brexit GBP new low USD 1.2966 heading to 1.2
Reply #8 - Jul 7^th, 2016 at 1:52pm

AiA wrote on Jul 6^th, 2016 at 10:37pm:

^^ true. the UK doesn't have much of a manufacturing sector anymore.

Manufacture a lot of inept politicians like Cameron, Johnson, Farage and especially Tony B Liar.

There's a new bunch of loss-leaders crawling out from under the woodwork right now ready to feed on the cadavers of their predecessors. The light is too strong for them.

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