Lira getting Stronger - Why?

[stoop]

Well since the vote the ftse 100 and 250 are at all time highs.

This means anyone with a pension invested or a stock market based investment is doing well.

Carney was a remoaner who hit the panic button before and after the vote. He warned of economic disaster if we voted leave. It hasn’t happened.

In fact our service sector( our largest sector)  has recorded excellent rises again this quarter and it’s mooted this is due to the possibility of a hard Brexit.

Rock on Tommy!

[Colwyn]

Meanwhile, in the real world, the TL is back to 5.08 to the pound, down to 4.5 to the euro and the next meaningless milestone may be the 4TL dollar.

[stoop]

Meanwhile, in the real world, the TL is back to 5.08 to the pound, down to 4.5 to the euro and the next meaningless milestone may be the 4TL dollar.

Excellent leftist diversion. Corbyn will be proud.

[Scunner]

In a topic about the value of the lira, a post about the value of the lira is a “leftist diversion”?

[stoop]

So what will happen tomorrow? The money markets seem to be expecting the BoE to increase ointerst rates from 0.25% to 0.5%. If so that that can be expected to consolidate the stronger £. But suppose it doesn't. The Monetary Committee has been very cautious up to now and the last vote was 7/2 in favour of leaving the rate the same. Quite a few people will have to change their minds this time. If they don't and the  rate stays the same we might expect the £ to fall below 5 again.

The ball is rolling ... place your bets now please, Ladies and Gentleman.

Coleen started it Scunner  

[kevin3]

             Fluctuations.           

[Colwyn]

In a topic about the value of the lira, a post about the value of the lira is a “leftist diversion”?

Don't try confuse the lad, Scunner, he's already terminally muddled.

[Colwyn]

Here is a teaser for you. Turkey's Central Bank is hoarding gold. Gold worth over $5 billion has been bought up this year {I reckon that is over 100 tons}. So ... why? In a Mortimer and Reeves moment, Robin Bhar (a Society Generale financial analyst)  said “There could be any number of reasons why they’re doing this, we just don’t know”. So there you are, free rein to exercise Turkey's second most popular pastime - conspiracy theory (the first being smoking of course). Why is the CB gathering a mountain of gold?

https://www.bloomberg.com/news/articles/2017-11-03/turkey-s-gold-buying-spree-has-market-wondering-how-much-and-why
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[kevin3]

    Could be anticipating a run on the price of Efes.?

    I get the feeling that some problems are being masked plus there are upcoming elections that have to be fought and bought.

    Or they could be preparing to tell the EU and it's democracy where to go and go down the undemocratic Eastern route.

[Colwyn]

A couple of weeks ago HDN noted that the Central Bank had also been stockpiling great piles of cash, far more than it needs to pay off current debts. If you see fleets of artic trucks being loaded up with shoeboxes and heading for Istanbul it could be a sign that Erdogan is preparing to do a runner.

http://www.hurriyetdailynews.com/opinion/ugur-gurses/treasurys-cash-central-banks-gold-reserves-rising-121410