Global central banks poised to dump sterling and euros in a Brexit bust-up

[AtW]

Central banks and sovereign wealth funds are likely to sell up to £100bn of UK bonds and precipitate a balance of payments crisis if Brexit talks break down in acrimony, Bank of America has warned clients.

The US bank said selling on this scale would send sterling cascading down to lows not seen since the mid-1980s, with a risk of cliff-edge falls if the exchange rate breaks below $1.10 against the dollar.

Kamal Sharma, the bank’s currency strategist, said Britain is dependent on constant inflows of capital to plug the current account deficit, still 3.9pc of GDP despite the improvement over the last two years.

https://www.telegraph.co.uk/business...s-brexit-bust/

Proper DOOMED!!!

[DimPrawn]

Good news if you are a filthy currency spekulator.

[Yorkie62]

So another single source article from a source with a vested interest in talking up its own currency. Fake News/Project Fear. Currencies go up and down all the time. Sterling has been as high as 1.72 and as low as 1.02 against the Euro in the past. Did you read the comments on this article. Pretty damning of the article on the whole.

[sasguru]

So another single source article from a source with a vested interest in talking up its own currency. Fake News/Project Fear. Currencies go up and down all the time. Sterling has been as high as 1.72 and as low as 1.02 against the Euro in the past. Did you read the comments on this article. Pretty damning of the article on the whole.

It's pretty much what I've been saying for months based on other financial research.
Mind you I do see sterling rising in the event of a complete BRINO ++ - which is one of the (most probable?) options.

[BlasterBates]

https://www.poundsterlingforecast.co...o-deal-brexit/

Another reason to be cautious if you’re planning to send money overseas is that the UK has also published 24 out of 80 papers of how to deal with a no-Brexit deal and with more papers planned to released in the near future I think this could set the tone for a very bleak future for Sterling and therefore if you’re planning to buy Euros it may be worth getting this organised in the very near future.

There we have it, the choice is economic meltdown or become a vassal state.

[Yorkie62]

https://www.poundsterlingforecast.co...o-deal-brexit/



There we have it, the choice is economic meltdown or become a vassal state.

and the very next paragraph in the article quoted above said...

"I have personally worked in the foreign exchange industry since 2003 for one of the UK’s leading currency brokers and I’m confident that with my experience I’m able to help you both with the timing of your currency transfer as well as saving you money compared to using your own bank.

For further information or a free quote then contact me directly and I look forward to hearing from you.

Tom Holian "

So there you have it . Another article trying to drum up some business for an individual with a vested interest in scarmongering. I really hate it when sections of articles are taken out of context to justify an individuals point of view.

[BlasterBates]

and the very next paragraph in the article quoted above said...

"I have personally worked in the foreign exchange industry since 2003 for one of the UK’s leading currency brokers and I’m confident that with my experience I’m able to help you both with the timing of your currency transfer as well as saving you money compared to using your own bank.

For further information or a free quote then contact me directly and I look forward to hearing from you.

Tom Holian "

So there you have it . Another article trying to drum up some business for an individual with a vested interest in scarmongering. I really hate it when sections of articles are taken out of context to justify an individuals point of view.

Well spotted, ah hang on here's another dire prediction

There are no good scenarios for the pound

[WTFH]

So another single source article from a source with a vested interest in talking up its own currency. Fake News/Project Fear.

The article is in one of the most pro-Brexit papers out there. The tag "Project Fear" is normally used by Brexit supporters to talk about those who wanted to remain in the EU, but now you're saying it actually refers to Brexit.
Sounds like newspeak to me.

[scooterscot]

I'm thinking of selling up my UK property. If that converts to a sale, you can bet your boots others will be doing the same or indeed with other assets classes.

The fire sale is coming.

[BlasterBates]

I'm thinking of selling up my UK property. If that converts to a sale, you can bet your boots others will be doing the same or indeed with other assets classes.

The fire sale is coming.

project "basket case"