Pound in biggest monthly fall against the dollar since 2016...

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wellyfish said:
You don't have to own £'s before you can sell them.

Anyone can sell the £, it's not difficult.

. Sign up with a fx broker.
. download their trading platform (or use their online platform if they have one)
. stick a bit of money in your trading account
. sign all the T's& C's (particularly the Margin Call stuff)
. start selling £'s
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Best we don't ask you for investment advice...

When you stick a bit of money in your trading account, before selling your pounds, what currency are you sticking in? Pounds perchance?
 
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JP_ said:
Best we don't ask you for investment advice...

When you stick a bit of money in your trading account, before selling your pounds, what currency are you sticking in? Pounds perchance?
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Lol, you think you will be selling the pounds you put into the account?? That's hilarious.
 
Mottie said:
Short term pain for long term gain. That’s the plan but some on here would wish for Short term pain for long term pain.
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Be sensible Mottie, when have you ever known a politician, a party or even a government plan for any longer than the next election, especially on divisive party politics.
For sure, issues that have support from all parties can be planned far ahead, such as energy sources, pollution, etc,. But something so divisive as Brexit, come on, you know it's only their own interests they have.
 
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gant said:
It's you that admitted you knew f*ckall about cricket.
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Ever heard of tongue in cheek ?

Ever played it yourself? Been involved at club level even ?

Whether you like it or not, cricket needs finances to survive. But if you want to discuss it further take it back to the cricket thread.
 
Look forward to an emergency meeting of the Bank’s monetary policy committee, that'll be a signal from those with a better understanding.

Followed by some major interest rate rises. I remember when it rose 4.38% in one month.
 
carmanmemoranda said:
Ever heard of tongue in cheek ?

Ever played it yourself? Been involved at club level even ?

Whether you like it or not, cricket needs finances to survive. But if you want to discuss it further take it back to the cricket thread.
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We now enter tiresome territory, bye.
 
wellyfish said:
Lol, you think you will be selling the pounds you put into the account?? That's hilarious.
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Yes, I am so funny. Why don't you try selling pounds you don't own and tell us how it goes?

With the USD/GBP currency pair, buy dollars and sell pounds. But don't spend any pounds in the process ... You have to fund your account, and if you are buying USD to sell GBP, you are selling your pounds.

Or do you have other currencies you can buy with?
 
Justin Passing said:
Look forward to an emergency meeting of the Bank’s monetary policy committee, that'll be a signal from those with a better understanding.

Followed by some major interest rate rises. I remember when it rose 4.38% in one month.
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Yep - partly to try and improve the pounds credibility. On the other hand earlier muttering was saying rates must increase. Curious area. It can be argued that rates should be ahead of inflation. That gives savers more incentive for spending. As things are they worry about replacing them if they have any sense.

The city seems to reckon 5% will be needed - at some point. That before wondering sever currency value changes. |Looks like 6% now.

There is also a chance the GBP reaches 1 to the USD. 60% chance mentioned over a period of time. Euro too?

One USD problem is that oil and gas tend to be sold that way. The overall problem is feeling that importers of all will have to pass increases on. The rates changes also upset the fall in gas and oil prices.

It seems we can expect an emergency BofE meeting as that is what the markets want. Nov is too far away.
 
Justin Passing said:
Look forward to an emergency meeting of the Bank’s monetary policy committee, that'll be a signal from those with a better understanding.

Followed by some major interest rate rises. I remember when it rose 4.38% in one month.
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I remember a 5% rise in less than 24 hours...

And we seem to be heading that way again...

The common denominator?

Nasty party in power!
 
JP_ said:
Yes, I am so funny. Why don't you try selling pounds you don't own and tell us how it goes?

With the USD/GBP currency pair, buy dollars and sell pounds. But don't spend any pounds in the process ... You have to fund your account, and if you are buying USD to sell GBP, you are selling your pounds.

Or do you have other currencies you can buy with?
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Yes, it's genuinely hilarious that you think you open an account with a broker and sell the pounds you use to fund your operations, lol.

I've sold plenty of currency I never owned, mostly GBP/Yen.

Go and learn about leverage.
 
ajohn said:
The city seems to reckon 5% will be needed - at some point.
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That would be about they rate they are targeting to get their 'investment program' & 'growth strategy' working.

Many more £s need to be sold to get to that rate - probably.
 
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