I call this the Backing Boris Strategy. If Boris manages an exit on the 31st, the people will see him as the person that got things done, got the queen involved and made the bold moves. Deal or not, the closure will add certainty and business can finally adapt to the new conditions.
That and EU just announced QE -
One of the downsides of QE policy is that it devalues a domestic currency, which is good for business exports by making their products more competitive in an attempt to raise inflation. If that doesn't work, not good news.
I'm on TEAM POUND! ( for now )
That and EU just announced QE -
One of the downsides of QE policy is that it devalues a domestic currency, which is good for business exports by making their products more competitive in an attempt to raise inflation. If that doesn't work, not good news.
I'm on TEAM POUND! ( for now )
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As expected so far. More weakness to come. Probably a gap low over the weekend, until we hear from the supreme court next week.
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Short is still good till ~8550 area. This is backing that the UK can snatch a deal.
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Trade closed. Time to wait for UK Elections.