TSSeasider
Well-known member
Was briefly looking at the currency markets and it highlights how we generally have news cycles dominated by immediacy.
On 21st September, before the 'special fiscal event' the markets closed on GBP/USD $1.1254 GBP/EUR €1.147
They are currently at $1.117 and €1.1409 which would be well within the normal fluctuations of a currency.
Now, they may not close there by the end of the day and we shouldn't underestimate the real chance one of the current crop in government could cause another fire sale etc, but we aren't going to hear of this in the same way when the currency was being sold off as it's not immediately newsworthy.
The more telling issue is the long term devaluation of the GBP, but, we don't really create the space to look at this in our 24 hours cycle. Not sure what the answer is given the shorter and shorter attention span of the population.
On 21st September, before the 'special fiscal event' the markets closed on GBP/USD $1.1254 GBP/EUR €1.147
They are currently at $1.117 and €1.1409 which would be well within the normal fluctuations of a currency.
Now, they may not close there by the end of the day and we shouldn't underestimate the real chance one of the current crop in government could cause another fire sale etc, but we aren't going to hear of this in the same way when the currency was being sold off as it's not immediately newsworthy.
The more telling issue is the long term devaluation of the GBP, but, we don't really create the space to look at this in our 24 hours cycle. Not sure what the answer is given the shorter and shorter attention span of the population.