Lost all confidence in the pound.

coastline

We can only wait and see if the government have a credible plan. Yes it didn't come across very well last week. I also watched the main news last night to see if they'd mention a recovery in the pound but they switched their attention to mortgages and showed detail of a fix at 4.85% today up from 2% a year ago. Never mentioned the US fix at 6.70% again double. That's the way it is with the media . 

30 Year Mortgage Rate (ycharts.com)

The Dollar Index is falling .  Yesterday Nike said it was hammering their margins so it ain't perfect in the US either.

Fd1QD2kaAAE1WfS (900×540) (twimg.com)

Speaking of credible plans we had a one to balance the books in 5 years from 2010-2015 but ended the period £72bn down. Article includes IMF and OBR comments . Not that bothered who's in power really but it makes you wonder what its all about.

Osborne’s legacy: What the austerity chancellor leaves behind (cnbc.com)

steampowered

BREAKING NEWS: 5 year gilts now attract a higher interest rate than 5 year Greek government debt.

The markets have more confidence in Greece's ability to pay its debts than in the UK's. 

Secret2ndAccount

steampowered said:

BREAKING NEWS: 5 year gilts now attract a higher interest rate than 5 year Greek government debt.

The markets have more confidence in Greece's ability to pay its debts than in the UK's. 

That makes sense. The EU has already demonstrated that it will pay Greece's debts for it, and Greece is small enough that it could never bankrupt the EU

hallmark

Andrew Bailey needs to raise rates substantially and immediately or be sacked for his complete failure to even attempt to do his job.

JohnWinder

Chomeur said:

 I can't see the pound going up over the next few years.

It's up about 3% in the week since your wrote that, I think. Have faith.

ceci2022

Why everyone of us is working hard but GBP depreciates? 

Is the issue introduced by supply chain? The raw materials imported from external countries is limited and delayed. 

InvesterJones

ceci2022 said:

Why everyone of us is working hard but GBP depreciates? 

Is the issue introduced by supply chain? The raw materials imported from external countries is limited and delayed. 

No, while supply constraints have been inflationary, they're not unique to the UK, rather markets are concerned about lower economic prospects compared to other countries, the causes of which are numerous and debatable.