Whatever is said in public, behind the scenes the government will be deeply concerned waking up to record lows, as well as the surge in UK government borrowing costs, in particular. Market opening in Europe this morning will be being watched nervously.
These rates will effectively be passed on to household and commercial borrowers of fixed term loans. While the injection of cash from tax cuts should help temper the recession, very fast rate rises could make that worse. The last time the value of the pound was anywhere near $1.05 was in February 1985. Back then, the official line from Downing Street was also that the government was unworried by a slide in the pound, and that it was mainly the result of a strong dollar and speculation.
But the Mail rag said it was the City Slickers MailOnline 😂😂
Yet again UK is a casualty of US - China trade wars.
Third world brains showing the right wing elite's just where the commonsense exists.
*and Euros
The Tory govt won’t comment on the markets and the plunge of sterling…meanwhile their hedgefund cronies are RAKING in the money betting against the pound! Wake up people! It’s only going to get worse! RecallParliament GeneralElectionNow ToriesOut NeverTrustATory
. …such as the €uro. Why don’t you mention the €uro explicitely along the US-Dollar? The €uro is in reality the most important currency for ordinary British people. .
The Euro is doing just as bad so sad remoaners keep on drying your eyes!
$ = Bitcoin 2
'the euro touched a fresh 20-year-low against the dollar in morning Asia trade'. Just in case you want to know which 'other currencies' they are NOT talking about.
'flogging (off) a dead Brexit horse.'
My expectations though…
Thanks very much, 'The Conservative party'. 👏
The economic vandalism of kami-kwasi economics continues to bite.
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