Lira getting Stronger - Why?

[Colwyn]

As a younger man I worked in a number of bookies' offices. I have no great trust in the knowledgedge they have - only their ability to do sums

[usedbustickets]

George Soros predicts the £ will lose 20% of value if the disaster of Brexit happens - and he's the chap that made billions out of Norman Lamont's bumbling incompetence in just a few hours some years ago.

Yes Soros the lover of the Euro, which he has always argued is the way the UK should go... so I do not think people need be by swayed by his overall judgement.

[JohnF]

As a younger man I worked in a number of bookies' offices. I have no great trust in the knowledgedge they have - only their ability to do sums

I didn't say they were correct in their view, just that they have taken their lead from the financial markets. Or maybe its the other way round?

JF

[Colwyn]

Still not got the hang of the Quote function then, UBT. I say nothing about your grasp of finance.

[Colwyn]

I didn't say they were correct in their view, just that they have taken their lead from the financial markets. Or maybe its the other way round?

No, my view is that the odds are merely based on amounts of money at risk so that the bookmaker (nearly) always comes out on top. My guess is that a lot more money has been put down by Remain punters, so they won't get a lot back. Whether they are Remain voters we can't tell. Perhaps they are Leave voters thinking "Well at least if we lose the vote I'll have a few quid to console myself with the odd couple pints!". Bookies always hedge their bets; why not punters?

[davybill]

Yes Colwyn im edging my bet a Pound each way.lol

[Colwyn]

You aren't worried about a draw then?

[Ovacikpeedoff]

We will be fine. If it all goes wrong and the economy goes into recession Boris will go on national TV and apologies. I am sure that will be great solace to those who have lost their jobs and their homes.

[usedbustickets]

Still not got the hang of the Quote function then, UBT. I say nothing about your grasp of finance.

Appears I have got the hang of it, cos I got your immediate attention and response!!

As to my grasp of finance, you are probably correct to say nothing, lest it exposes your own flawed analysis.

[JohnF]

Bumpy ride ahead for the lira methinks - as Colwyn said on another thread its hitting all time lows against the USD dropping to 3.09 last night.  Seems to have recovered slightly, to 3.05, but if it carries on with the current trend it could make for a hard winter for many - oil & gas more expensive.

How the TCB deal with this will be interesting, they no longer have the pretty astute Mr Basci on board to fend off interference from the government.

JF