Sterling plummets after UK attorney general says legal risks of Brexit unchanged

 

FILE PHOTO - Wads of British Pound Sterling banknotes are stacked in piles at the Money Service Austria company's headquarters in Vienna, Austria, November 16, 2017. REUTERS/Leonhard Foeger

 

LONDON (Reuters) - The pound fell sharply on Monday after Britain’s Attorney General Geoffrey Cox said the legal risks to the United Kingdom of the Brexit backstop remained unchanged despite assurances from the European Union.

 

The fell plunged 0.7 percent to a day’s low of $1.3041. It had been as high as $1.3290 earlier in the session on hopes British Prime Minister May would eventually secure a deal before Brexit in less than three weeks.

 

The pound also fell sharply against the euro, falling by one percent to the day’s low of 86.33.

 

The export-heavy FTSE 100 rose as sterling dropped.

 

-- © Copyright Reuters 2019-03-12

Oh dear..how sad..never mind

Sent from my SM-G7102 using Thailand Forum - Thaivisa mobile app

0.7 % , I do feel that "plummets" is quite an exaggeration , "slight drop" would be more fitting 

15 minutes ago, sanemax said:

0.7 % , I do feel that "plummets" is quite an exaggeration , "slight drop" would be more fitting 

So was the "surges" one. But that's show business folks.

plummets eh, yesterday it was 41.03, today was 41.73. !!

1 hour ago, trigpoint said:

plummets eh, yesterday it was 41.03, today was 41.73. !!

plummets a tiny bit

she is choking which isn't helping her much

Of course they remain unchanged. I am no lawyer but when I read the "concessions" even I understand that when a read the wording. A whole lot of nothing "commitment". Hard Brexit or don't leave are the choices. The EU has played hardball and given up nothing. Personally, like all the Y2K panic, I don't think a hard Brexit would be that difficult. It would be as difficult as the EU wants it to be. That said, the EU doesn't want anyone else leaving, so they may make things miserable. 

There are people who have posted on this forum that Brexit is not the cause of sterling's woes. 

Believe me that if some kind of a resolution is not found things will get a whole lot worse. 

If Brexit were called off tomorrow,  the pound would soar, no doubt about that .

3 hours ago, Jonnapat said:

There are people who have posted on this forum that Brexit is not the cause of sterling's woes. 

Believe me that if some kind of a resolution is not found things will get a whole lot worse. 

If Brexit were called off tomorrow,  the pound would soar, no doubt about that .

Untrue, we all agree that the bexit vote was the cause for the sterling 'collapse'.

 

Yes, if brexit was cancelled sterling would undoubtedly increase - as this is exactly what those with serious amounts of money would prefer to happen....

 

Sadly for them, the electorate don't believe their (not to mention uk and eu politicans/various biased experts) propaganda anymore - hence the leave vote.

1 minute ago, dick dasterdly said:

Untrue, we all agree that the bexit vote was the cause for the sterling 'collapse'.

 

Yes, if brexit was cancelled sterling would undoubtedly increase - as this is exactly what those with serious amounts of money would prefer to happen....

 

Sadly for them, the electorate don't believe their (not to mention uk and eu politicans/various biased experts) propaganda anymore - hence the leave vote.

Given that Brexit was financed by tax shy billionaires and multimillionaires (aided by £millions of imported money of unknown provenance) and hedgefund managers, your second paragraph needs some support in the form of facts.

19 hours ago, trigpoint said:

plummets eh, yesterday it was 41.03, today was 41.73. !!

Living in Thailand gives you a real interest in Sterling versus Baht.  When a report says plummet it may not affect the Baht rate as much as other currencies.  Everything is relative.

Sometimes it's good to be a cynic....

 

As soon as I heard the phrase from Liddlington "the EU cannot try to "trap" the United Kingdom - I knew that politicians would never be able to 'sell' this to the electorate ????.

19 minutes ago, Chomper Higgot said:

Given that Brexit was financed by tax shy billionaires and multimillionaires (aided by £millions of imported money of unknown provenance) and hedgefund managers, your second paragraph needs some support in the form of facts.

And precisely who supported the remain cause?

1 minute ago, dick dasterdly said:

And precisely who supported the remain cause?

As far as I aware Remain isn’t on the table.

 

Well, not yet anyway.

 

 

Perhaps in the meantime the government should look into exactly where all that imported money came from.

 

 

Less of these unfounded accusations about who stands to make a fortune.

 

We know who already did:

 

 

https://www.independent.co.uk/news/uk/politics/hedge-fund-manager-describes-moment-he-won-220-million-brexit-vote-the-morning-has-gold-in-its-mouth-a7323626.html