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Britain fires with both barrels - emergency rate cut and budget boost

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Oh my God, Pound at 1.17 to the USD.

 

British Pound fired with two barrels but still being slapped about by the market.

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Pound is at 1.15, 

 

Prominent Vote Leave campaigner Boris Johnson said "the pound is stable" and previously said the markets would be fine after Brexit.

 

So the pound has not been this weak since 1985 and is currently the world's weakest currency. So much for 'firing on both barrels'.

 

However, in 1985 the Pound was weak because the dollar was so strong. British growth rates were more than double those anticipated now. Now the Pound is weak because things are really bad.

 

Prediction: The pound will retest at least the low  of 1.10 and will most likely fall below that level.

 

https://www.buzzfeed.com/simonneville/the-last-time-the-pound-was-this-weak-was-1985-heres-what-ha

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French president Emmanuel Macron warned that Brexit was an “alarm signal” of huge historic significance, reiterating his claim that the 2016 leave campaign was based on “lies, exaggerations and cheques that were promised but will never come”.

 

https://www.theguardian.com/politics/2020/jan/31/boris-johnson-promises-brexit-will-lead-to-national-revival

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