AS we begin the gradual lead up to the general election – scheduled for May next year – even party politics, jostling, sniping and even defecting MP’s cannot unsettle sterling.
Lower mortgage approvals were reported this Monday, which perhaps signals a housing market that is cooling off.
However, since 2008 we have only seen the pound reach above the dizzying heights of €1.28 twice and it has been settled above that bar for a few days now.
With the geo-political distractions in Iraq and Syria, we are now often seeing quite tame markets, especially with the outcomes being so difficult to gauge.
There is also a little-known code of conduct on the city trading floors (shocking, I know) by which many traders will not seek a commercial gain from such events as air strikes or natural disasters. Most do have scruples you know, although it is a well-kept secret!
The market is not expecting any great change this month. Again it will be about any stimulus programmes announced to get the European consumers spending.
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- Shedding clarity on Greece’s troubles - 11 Jul, 2015 @ 09:00
- Beyond compare: the micro-economies of the Spanish Costas - 6 May, 2015 @ 09:00
- A Sterling summer - 24 Mar, 2015 @ 16:01
- Inflation… where? - 6 Nov, 2014 @ 09:00
- Without a padel… - 23 Oct, 2014 @ 09:00
- It’s all going on in the UK - 9 Oct, 2014 @ 09:00