Pound heads sharply lower on Brexit concerns

[chiang mai]

Don't get stressed about it, I can never understand why people have such a defeatist, negative attitude.

Exit might cause some minor short term weakness in the value of GBP during the initial days after exit, this will most certainly be short term.

Can I suggest you type the following words into your browser and read any of the pages of links to news articles on this subject,: "how long will brexit cause the Pound to crash"

Why?

I am quite aware of the various scenarios for Brexit.

"Exit might cause some minor short term weakness in the value of GBP during the initial days after exit, this will most certainly be short term."

If you are then we can agree to disagree on this point.

[chiang mai]

This article explains what would happen to the banking system in the event of Brexit, the piece about passporting banks into EU countries is very very real I can assure you and banking is just one aspect of financial services - an excerpt reads:

http://www.telegraph.co.uk/business/2016/04/17/what-will-happen-to-the-city-if-we-quit-the-eu/

"For City advocates of staying in, the most serious issue arising from Brexit concerns so-called “passporting rights”. Under the existing regime, these enable a financial institution with operations in one EU country to sell into all other EU members without having separate operations there. A bank can sell from London throughout the EU, for instance, but by contrast, Swiss financial institutions cannot sell directly into the EU; they have to set up subsidiaries in an EU member country.

In practice, foreign banks overwhelmingly choose London for their EU base. But if the UK left the EU, under the existing rules they would have to set up subsidiaries in a member country – as would British banks wanting to do business in the EU. At the very least, therefore, British banks as well as foreign ones operating here would face a substantial increase in costs, and would have to transfer a significant volume of business, together with the attendant jobs, from London to some other EU city, most likely Paris, Frankfurt, Luxembourg or Dublin. In the extreme, they might think it wasn’t worth having two European centres, one in and the other out of the EU. Given the requirement to have one inside the EU, they might plausibly close their London operations, or maintain just a token presence.

How serious is this threat? The UK sells about £20bn of financial services to the EU per annum and enjoys a surplus with it of about £16bn. Without passporting rights, it is possible that UK financial services exports to the EU could conceivably fall by about half, or roughly £10bn, which is a large sum".

[SheungWan]

Because The UK can not afford to leave The EU.The thinking is that if they did then Scotland would leave The UK and they are a large source of income to loose Then what industries is England left with? So dropping the value opf the pound at this time might send a signal to the big money people "not to back" leaving.

Yes once Scotland leaves then the pound will go lower and lower, but I don't think that should stop the UK from leaving the EU. It will only hit expats anyway and they seem to be all in favor for leaving the EU so they would not mind much just a small sacrifice.

It will hit hard on the people in England also as prices on commodities will be sharply up.

At least we wil not haven in asain inbreads on the streets of England . Along with murderes we cannot send home because they have human rights. Also we will save on not giving55 million a day to Country's that are determined to run us into the ground.why should a British pensioner have to chose between keeping warm in winter or eating . Because forieng country's own all the utilitys. They just skin us because of our great past. Jelousey comes to mind . I am voting out . Stand or fall at least I will be in charge of my own desteny.

The racist genie is never far from the core of many BREXIT fans. And this is one of the essential criticisms of UKIP; that their supporters have nothing much else to say. Whether they are living amongst the 'asain inbreads' in Thailand is a moot question.

Edited April 18, 2016 by SheungWan

[nontabury]

Because The UK can not afford to leave The EU.The thinking is that if they did then Scotland would leave The UK and they are a large source of income to loose Then what industries is England left with? So dropping the value opf the pound at this time might send a signal to the big money people "not to back" leaving.

Yes once Scotland leaves then the pound will go lower and lower, but I don't think that should stop the UK from leaving the EU. It will only hit expats anyway and they seem to be all in favor for leaving the EU so they would not mind much just a small sacrifice.

It will hit hard on the people in England also as prices on commodities will be sharply up.

At least we wil not haven in asain inbreads on the streets of England . Along with murderes we cannot send home because they have human rights. Also we will save on not giving55 million a day to Country's that are determined to run us into the ground.why should a British pensioner have to chose between keeping warm in winter or eating . Because forieng country's own all the utilitys. They just skin us because of our great past. Jelousey comes to mind . I am voting out . Stand or fall at least I will be in charge of my own desteny.

The racist genie is never far from the core of many BREXIT fans. And this is one of the essential criticisms of UKIP; that their supporters have nothing much else to say. Whether they are living amongst the 'asain inbreads' in Thailand is a moot question.

The left wing are very good at the throwing the racist accusation at those who do not agree with their point of view.

If you want to go down that path, easy to accuse the far left of also being racist, notice the accusations now aimed at Jeremy Corbyn. I would also suspect that there are many others in the pro EU camp that are not happy with the present immigration and economic refugee policies. Pot kettle comes to mind.

It might also be fair to point out that one of the leaders of the Britex campaign is a member of the present government and minister for employment called Prity Patel. As for UKIP they also have a number of Asian and black supporters, many of them local councilors whose numbers will increase in the forthcoming local elections.

Edited April 18, 2016 by nontabury

[nontabury]

[chiang mai]

http://www.independent.co.uk/news/uk/politics/brexit-campaigners-economically-illiterate-and-dishonest-says-osborne-a6989081.html

[SgtRock]

http://www.independent.co.uk/news/uk/politics/brexit-campaigners-economically-illiterate-and-dishonest-says-osborne-a6989081.html

From your link.

EU referendum: Brexit campaigners 'economically illiterate and dishonest', says George Osborne

As Chancellor the Gidiot has:

Never hit a Fiscal target.

Presided over the largest current account deficit.

Is currently borrowing more than at any other time in the UK's history.

If anyone is economically illiterate and dishonest it is Osborne himself.

[chiang mai]

I understand the emotion but, the Chancellor of the UK is "economically illiterate and dishonest", please!!!

As for largest etc., do your research and you'll see that the current government was left with a massive overspend and a negative bank balance, courtesy of the previous government, that kind of mismanagement of a country takes time a long time to recover from, even in a half way decent global economy.

[SgtRock]

I understand the emotion but, the Chancellor of the UK is "economically illiterate and dishonest", please!!!

As for largest etc., do your research and you'll see that the current government was left with a massive overspend and a negative bank balance, courtesy of the previous government, that kind of mismanagement of a country takes time a long time to recover from, even in a half way decent global economy.

No emotion on my part CM. I detest all UK politicians equally.

Osborne is not qualified to run a bath never mind the economy. He is only in the job as he is Camerons best mate.

I would suggest that it is yourself that needs to a bit of research, that myth has been well and truly debunked. As much as it pains me to say it, the UK as a whole has a lot to thank Gordon Brown for. Had it not been for him the UK would be in a far worse place than it is now.

There is no recovery CM, there is only smoke and mirrors. That is why the UK is still borrowing £ 8 Billion a month to keep the lights on.

[chiang mai]

I understand the emotion but, the Chancellor of the UK is "economically illiterate and dishonest", please!!!

As for largest etc., do your research and you'll see that the current government was left with a massive overspend and a negative bank balance, courtesy of the previous government, that kind of mismanagement of a country takes time a long time to recover from, even in a half way decent global economy.

No emotion on my part CM. I detest all UK politicians equally.

Osborne is not qualified to run a bath never mind the economy. He is only in the job as he is Camerons best mate.

I would suggest that it is yourself that needs to a bit of research, that myth has been well and truly debunked. As much as it pains me to say it, the UK as a whole has a lot to thank Gordon Brown for. Had it not been for him the UK would be in a far worse place than it is now.

There is no recovery CM, there is only smoke and mirrors. That is why the UK is still borrowing £ 8 Billion a month to keep the lights on.

Given comments such as those, we have nothing we can sensibly discuss or debate.

[SgtRock]

If the politicians in charge can't get it right, what hope for the rest of us?

In a party political broadcast last year, David Cameron claimed that "we are paying down Britain's debts".

As you will soon see, we most certainly are not.

http://www.bbc.com/news/business-25944653

or here

http://www.economicshelp.org/blog/334/uk-economy/uk-national-debt/

Like I said.

Nothing but smoke and mirrors.

Edited April 18, 2016 by SgtRock

[chiang mai]

Nonsense and rubbish, not even half a true picture!

From the same link:

2008-2015 – public sector debt has increased sharply because of:

• 2008-13 recession (lower tax receipts, higher spending on unemployment benefits) The recession particularly hit stamp duty (falling house prices) income tax and lower corporation tax.
• These cyclical factors have also exposed an underlying structural deficit. (deficit caused by spending greater than tax, ignoring cyclical factors)
• Financial bailout of Northern Rock, RBS, Lloyds and other banks.
• From 2011-2015, the pace of increase in the public sector debt has slowed due to the government attempts to reduce the budget deficit. The government has announced strict spending limits

Edited April 18, 2016 by chiang mai

[SheungWan]

I understand the emotion but, the Chancellor of the UK is "economically illiterate and dishonest", please!!!

As for largest etc., do your research and you'll see that the current government was left with a massive overspend and a negative bank balance, courtesy of the previous government, that kind of mismanagement of a country takes time a long time to recover from, even in a half way decent global economy.

No emotion on my part CM. I detest all UK politicians equally.

Osborne is not qualified to run a bath never mind the economy. He is only in the job as he is Camerons best mate.

I would suggest that it is yourself that needs to a bit of research, that myth has been well and truly debunked. As much as it pains me to say it, the UK as a whole has a lot to thank Gordon Brown for. Had it not been for him the UK would be in a far worse place than it is now.

There is no recovery CM, there is only smoke and mirrors. That is why the UK is still borrowing £ 8 Billion a month to keep the lights on.

'I detest all UK politicians equally' + 'the UK as a whole has a lot to thank Gordon Brown for'.

Bit of a giveaway there.

[SgtRock]

I understand the emotion but, the Chancellor of the UK is "economically illiterate and dishonest", please!!!

As for largest etc., do your research and you'll see that the current government was left with a massive overspend and a negative bank balance, courtesy of the previous government, that kind of mismanagement of a country takes time a long time to recover from, even in a half way decent global economy.

No emotion on my part CM. I detest all UK politicians equally.

Osborne is not qualified to run a bath never mind the economy. He is only in the job as he is Camerons best mate.

I would suggest that it is yourself that needs to a bit of research, that myth has been well and truly debunked. As much as it pains me to say it, the UK as a whole has a lot to thank Gordon Brown for. Had it not been for him the UK would be in a far worse place than it is now.

There is no recovery CM, there is only smoke and mirrors. That is why the UK is still borrowing £ 8 Billion a month to keep the lights on.

'I detest all UK politicians equally' + 'the UK as a whole has a lot to thank Gordon Brown for'.

Bit of a giveaway there.

If you are going to try and quote me, have the decency to get the quote correct.

As much as it pains me to say it, the UK as a whole has a lot to thank Gordon Brown for. Had it not been for him the UK would be in a far worse place than it is now.

Otherwise it makes you look like a helmet.

Edited April 20, 2016 by SgtRock

[SheungWan]

Because The UK can not afford to leave The EU.The thinking is that if they did then Scotland would leave The UK and they are a large source of income to loose Then what industries is England left with? So dropping the value opf the pound at this time might send a signal to the big money people "not to back" leaving.

Yes once Scotland leaves then the pound will go lower and lower, but I don't think that should stop the UK from leaving the EU. It will only hit expats anyway and they seem to be all in favor for leaving the EU so they would not mind much just a small sacrifice.

It will hit hard on the people in England also as prices on commodities will be sharply up.

At least we wil not haven in asain inbreads on the streets of England . Along with murderes we cannot send home because they have human rights. Also we will save on not giving55 million a day to Country's that are determined to run us into the ground.why should a British pensioner have to chose between keeping warm in winter or eating . Because forieng country's own all the utilitys. They just skin us because of our great past. Jelousey comes to mind . I am voting out . Stand or fall at least I will be in charge of my own desteny.

The racist genie is never far from the core of many BREXIT fans. And this is one of the essential criticisms of UKIP; that their supporters have nothing much else to say. Whether they are living amongst the 'asain inbreads' in Thailand is a moot question.

The left wing are very good at the throwing the racist accusation at those who do not agree with their point of view.

If you want to go down that path, easy to accuse the far left of also being racist, notice the accusations now aimed at Jeremy Corbyn. I would also suspect that there are many others in the pro EU camp that are not happy with the present immigration and economic refugee policies. Pot kettle comes to mind.

It might also be fair to point out that one of the leaders of the Britex campaign is a member of the present government and minister for employment called Prity Patel. As for UKIP they also have a number of Asian and black supporters, many of them local councilors whose numbers will increase in the forthcoming local elections.ImageUploadedByThaivisa Connect1460957469.429336.jpg

The trouble with complaining that 'the left wing are very good at the throwing the racist accusation at those who do not agree with their point of view' is that that complaint was too lazy or otherwise to observe that my observation replied to an extremely explicit racist posting. Have another look at say it ain't so, or better still, don't bother.

[SheungWan]

No emotion on my part CM. I detest all UK politicians equally.

Osborne is not qualified to run a bath never mind the economy. He is only in the job as he is Camerons best mate.

I would suggest that it is yourself that needs to a bit of research, that myth has been well and truly debunked. As much as it pains me to say it, the UK as a whole has a lot to thank Gordon Brown for. Had it not been for him the UK would be in a far worse place than it is now.

There is no recovery CM, there is only smoke and mirrors. That is why the UK is still borrowing £ 8 Billion a month to keep the lights on.

'I detest all UK politicians equally' + 'the UK as a whole has a lot to thank Gordon Brown for'.

Bit of a giveaway there.

If you are going to try and quote me, have the decency to get the quote correct.

As much as it pains me to say it, the UK as a whole has a lot to thank Gordon Brown for. Had it not been for him the UK would be in a far worse place than it is now.

Otherwise it makes you look like a helmet.

As if 'as much as it pains me to say....' makes the slightest difference to the throwaway 'I detest all politicians equally...' I guess we might put it down to artistic license at a stretch. Meanwhile if I was a helmet hopefully it would be a pithy one. Latest odds on BREXIT Stay 1/2, Leave 15/8. GBPTHB holding at 50.

Edited April 20, 2016 by SheungWan

[SgtRock]

As Chancellor the Gidiot has:

Never hit a Fiscal target.

Presided over the largest current account deficit.

Is currently borrowing more than at any other time in the UK's history.

If anyone is economically illiterate and dishonest it is Osborne himself.

Hot off the press. The Gidiot strikes again.

The Office for National Statistics (ONS) declared a public sector net borrowing figure just shy of £74bn for 2015/16 but said the total was subject to revision because it was a first estimate.

This will be revised upwards to over £ 80 Billion.

It took net debt at the end of March to almost £1.6tn - an increase of £47.5bn on March 2015.

http://news.sky.com/story/1682650/osborne-overshoots-72-2bn-borrowing-target

Misses his target and the Net debt also rises.

Yet he calls others economically illiterate and dishonest.

[chiang mai]

As Chancellor the Gidiot has:

Never hit a Fiscal target.

Presided over the largest current account deficit.

Is currently borrowing more than at any other time in the UK's history.

If anyone is economically illiterate and dishonest it is Osborne himself.

Hot off the press. The Gidiot strikes again.

The Office for National Statistics (ONS) declared a public sector net borrowing figure just shy of £74bn for 2015/16 but said the total was subject to revision because it was a first estimate.

This will be revised upwards to over £ 80 Billion.

It took net debt at the end of March to almost £1.6tn - an increase of £47.5bn on March 2015.

http://news.sky.com/story/1682650/osborne-overshoots-72-2bn-borrowing-target

Misses his target and the Net debt also rises.

Yet he calls others economically illiterate and dishonest.

Do you not stop and actually think about what you write, the Chancellor has revised his deficit borrowing figures by 0.22%, an adjustment of 2.1 billion on a budget of 131.5 billion and this on the back of a global slow down, I quote: “Structural changes in the UK economy since the financial crisis have reduced the capacity of the economy to generate tax receipts, and our public spending will have to adjust in the coming years to this new reality,”

http://www.telegraph.co.uk/business/2016/04/21/deficit-figures-an-embarrassment-for-george-osborne-as-he-misses/

Of course if all you want to do is to post on the basis of the headline, without context feel free, it's just that it makes you look silly when everyone else is actually reading the data behind the headline and realizes that it's not such a huge cock up as you make it out to be, in fact it's pretty much business as usual from a budgeting standpoint!

[SgtRock]

Hot off the press. The Gidiot strikes again.

This will be revised upwards to over £ 80 Billion.

http://news.sky.com/story/1682650/osborne-overshoots-72-2bn-borrowing-target

Misses his target and the Net debt also rises.

Yet he calls others economically illiterate and dishonest.

Do you not stop and actually think about what you write, the Chancellor has revised his deficit borrowing figures by 0.22%, an adjustment of 2.1 billion on a budget of 131.5 billion and this on the back of a global slow down, I quote: “Structural changes in the UK economy since the financial crisis have reduced the capacity of the economy to generate tax receipts, and our public spending will have to adjust in the coming years to this new reality,”

http://www.telegraph.co.uk/business/2016/04/21/deficit-figures-an-embarrassment-for-george-osborne-as-he-misses/

Of course if all you want to do is to post on the basis of the headline, without context feel free, it's just that it makes you look silly when everyone else is actually reading the data behind the headline and realizes that it's not such a huge cock up as you make it out to be, in fact it's pretty much business as usual from a budgeting standpoint!

I am not the one making ludicrous statements. The financial whizzkid buffoon is.

From the same link.

Mr Osborne has pledged to return the UK to a surplus by 2020 but the slowdown in the world economy - coupled with an easing of his austerity plans such as the U-turn on disability payment cuts - could place that ambition at risk.

Hell will freeze over before the UK gets back in the black.

[Grouse]

Hot off the press. The Gidiot strikes again.

This will be revised upwards to over £ 80 Billion.

http://news.sky.com/story/1682650/osborne-overshoots-72-2bn-borrowing-target

Misses his target and the Net debt also rises.

Yet he calls others economically illiterate and dishonest.

Do you not stop and actually think about what you write, the Chancellor has revised his deficit borrowing figures by 0.22%, an adjustment of 2.1 billion on a budget of 131.5 billion and this on the back of a global slow down, I quote: Structural changes in the UK economy since the financial crisis have reduced the capacity of the economy to generate tax receipts, and our public spending will have to adjust in the coming years to this new reality,

http://www.telegraph.co.uk/business/2016/04/21/deficit-figures-an-embarrassment-for-george-osborne-as-he-misses/

Of course if all you want to do is to post on the basis of the headline, without context feel free, it's just that it makes you look silly when everyone else is actually reading the data behind the headline and realizes that it's not such a huge cock up as you make it out to be, in fact it's pretty much business as usual from a budgeting standpoint!

I am not the one making ludicrous statements. The financial whizzkid buffoon is.

From the same link.

Mr Osborne has pledged to return the UK to a surplus by 2020 but the slowdown in the world economy - coupled with an easing of his austerity plans such as the U-turn on disability payment cuts - could place that ambition at risk.

Hell will freeze over before the UK gets back in the black.

And the effect would be what?

We're not talking about house-keeping!

[tonbridgebrit]

Okay, rght now, it's 2.00 P.M., after lunch, Thursday, 21st April.

The pound is at US$1.443. That's 1.443 dollars to a pound.

Either, the markets reckon that Britain is staying IN the EU, or, they reckon that a Brexit (if it happens) is not going to harm the pound that much. Good. None of us wants to see the pound crash.

[BritManToo]

Just done a sudden jump to 50.5.

Looking good to me!

[chiang mai]

I am not the one making ludicrous statements. The financial whizzkid buffoon is.

From the same link.

Mr Osborne has pledged to return the UK to a surplus by 2020 but the slowdown in the world economy - coupled with an easing of his austerity plans such as the U-turn on disability payment cuts - could place that ambition at risk.

Hell will freeze over before the UK gets back in the black.

I get it, you're anti-Osborne, anti-Conservatives, anti-Eton/Oxbridge ergo whatever they do will be hopelessly wrong and bad, why didn't you just say that at the outset rather than masquerading your true feelings behind a phony Brexit argument!

[tonbridgebrit]

Just done a sudden jump to 50.5.

Looking good to me!

Yes, but it was at almost 54 baht to a pound during the end of December 2015. Yes, it's at 50.5 right now. Surely, it would be higher IF this referendum was NOT taking place at all. We have to bear in mind though, it got as low as 44 or 45 baht per pound during 2013, March and April.

Can you imagine, the unlucky man, who bought his Thai bird a house with the land, in 2013. He transferred his pounds in March 2013. Three million baht, and it was a pound to buy 44 baht. And the bank only gave 43 baht for a pound. Some blokes do have bad luck.

[SgtRock]

I am not the one making ludicrous statements. The financial whizzkid buffoon is.

From the same link.

Mr Osborne has pledged to return the UK to a surplus by 2020 but the slowdown in the world economy - coupled with an easing of his austerity plans such as the U-turn on disability payment cuts - could place that ambition at risk.

Hell will freeze over before the UK gets back in the black.

I get it, you're anti-Osborne, anti-Conservatives, anti-Eton/Oxbridge ergo whatever they do will be hopelessly wrong and bad, why didn't you just say that at the outset rather than masquerading your true feelings behind a phony Brexit argument!

Lets just say that I am a bit old fashioned and believe that public figures should be beyond reproach.

The Osbornes.

1. The family business has been well documented for its tax avoidance.

2. Osborne's brother has been struck off from the BMA for sexual misconducted with a patient.

3. Osborne himself is economically unqualified for anything. Has never held down employment. Benefits from tax avoidance via the family business. I will leave it for others to make up their own minds on allegations of schweinsteigering and and use of a certain powder.

Nothing to do with Conservatives. Eton / Oxbridge, or anything to do with Brexit. They are just a plain old salt of the earth family

Not only did he miss all his targets for the last financial year. He could predict that every household would be worse off to the tune of £ 4300 by the year 2030.

Edited April 22, 2016 by SgtRock

[BritManToo]

I think the most likely explanation for the pounds movement, is Cameron issued instructions to the BOE to make an exit look bad.

The bank manipulated the pound down for a while, then market forces started pushing it back up.

[chiang mai]

I think the most likely explanation for the pounds movement, is Cameron issued instructions to the BOE to make an exit look bad.

The bank manipulated the pound down for a while, then market forces started pushing it back up.

Not little green men!

[Chicog]

Politicians are all about stealing as much as they can and leaving the nation to pick up the bill.

[chiang mai]

I am not the one making ludicrous statements. The financial whizzkid buffoon is.

From the same link.

Mr Osborne has pledged to return the UK to a surplus by 2020 but the slowdown in the world economy - coupled with an easing of his austerity plans such as the U-turn on disability payment cuts - could place that ambition at risk.

Hell will freeze over before the UK gets back in the black.

I get it, you're anti-Osborne, anti-Conservatives, anti-Eton/Oxbridge ergo whatever they do will be hopelessly wrong and bad, why didn't you just say that at the outset rather than masquerading your true feelings behind a phony Brexit argument!

Lets just say that I am a bit old fashioned and believe that public figures should be beyond reproach.

The Osbornes.

1. The family business has been well documented for its tax avoidance.

2. Osborne's brother has been struck off from the BMA for sexual misconducted with a patient.

3. Osborne himself is economically unqualified for anything. Has never held down employment. Benefits from tax avoidance via the family business. I will leave it for others to make up their own minds on allegations of schweinsteigering and and use of a certain powder.

Nothing to do with Conservatives. Eton / Oxbridge, or anything to do with Brexit. They are just a plain old salt of the earth family

Not only did he miss all his targets for the last financial year. He could predict that every household would be worse off to the tune of £ 4300 by the year 2030.

Whilst I have no feelings about Osborne either way, other than to believe he is a well educated man, I don't believe that the antics of his brother nor the use of legitimate tax avoidance techniques by the family business are relevant to the finances of the UK. I suppose you can argue that he is not qualified to hold the post whereas Brown, who was an economist, drove the country to the brink of financial ruin but such arguments are largely pedantic.

The fact is that The Treasury, just like all government departments, is staffed with a permanent staff of civil servants who do the jobs of budgeting, modelling, economising, assessing, cutting and counting, all of that with the aid of significant computer models so that the incumbent Chancellor, who ever the might be, can play "what if" games at leisure. The Chancellor will be told or will understand what cuts are politically acceptable and they will be modelled for effect by permanent Treasury staff, the answer being returned to say, yes, it's possible or no, it's not economically viable, along with the same will be a tally of deficit and debt. In case you were wondering, it's not actually George who rocks up to work every morning, rolls up his sleeves, sharpens his pencils and says right, let's do some more counting, whoops I made a mistake.

So you see, blaming George at every twist and turn is a bit like blaming the Queen, just because the 8:30am from Peckham Rye was late into Paddington, it may be her country but she's not the driver of the train albeit she has ultimate responsibility for it since it sits inside her country.

[SheungWan]

z.png

Okay, rght now, it's 2.00 P.M., after lunch, Thursday, 21st April.

The pound is at US$1.443. That's 1.443 dollars to a pound.

Either, the markets reckon that Britain is staying IN the EU, or, they reckon that a Brexit (if it happens) is not going to harm the pound that much. Good. None of us wants to see the pound crash.

Its the first one. The markets for the moment think that BREXIT is looking like a dead parrot. The second 'either'? In your dreams.