What the hell happened at around 9am today?

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March 11, 2019 at 4:40 pm #31520
The VFM Addict
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I am inclined to keep one eye on the Pound v Euro and Pound v USD exhange rates live throughout the day.

At around 9am today sterling begun a climb. It has been constant all day putting on a cent and a half v the Euro and over a cent v USD.    Click the settings from 1 Hour to 1 Day here to see what I mean.

Reviewing all news feeds I can’t see any unexpected announcements here or in Europe made today at around 9am nor was any major economic data published.    Highly consistent day long rallies such as this usually have an identifiable origin.    Today no sign of anything like one (?). But the trend has been relentlessly upwards all day.

Have I missed something of major significance?   Does anyone have any ideas what caused this dramatic sterling rally?

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March 11, 2019 at 5:05 pm #31528
The VFM Addict
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Scratch the above. Now since I posted above its well over a cent and a half v the Euro and more like a cent and a quarter v the USD. I still can’t identify the cause and very little sign of major profit taking as yet. ‘kin Spooky.

Further spiking v the Euro as I type looking like a 2 cent increase v the Euro might occur by day end. But why????

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March 11, 2019 at 5:32 pm #31531
Dave Rice
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I given up trying to make sense of the world at the moment. I even found myself agreeing with Piers Morgan this morning when he said to Stephen Doughty and Mark Francois:

“What about all the lies Remain told. Why pick on the lies of Leave? You all lied, all of you. Now you have managed between you to completely cock it up as well. So you all lied to us, then you cocked up negotiations, and then you left the country in a shambles. Thank you very much indeed, on behalf of your parties.”

I may have to change my avatar ?

Perhaps that was it? A pig flew over the City?
March 11, 2019 at 7:02 pm #31540
JayCeeDee
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Dave Rice wrote:

Perhaps that was it? A pig flew over the City?

Piers Morgan on the Red Bull again, is he???!!
March 11, 2019 at 10:58 pm #31552
Bob Williams
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When the Thought Police arrive at your door, think -
I'm out.
March 11, 2019 at 11:51 pm #31553
The VFM Addict
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You must be psychic, Dave. . If anyone had asked me just before 9am this morning what the chances were of sterling putting on 2 cents against the USD and 2 against the Euro and hitting a 12 month high against it today of all days, I would have answered exactly that – “and pigs might fly”. So I guess you are right, Dave. They obviously did.

I wonder if there will be big profit taking tomorrow. No real sign of it yet as I type. Indeed, if anything the trend. although shallower is continuing when there’s usually a fall off over night. But surely there will be a significant degree of sell-off at some point tomorrow before the now totally unpredictable “meaningful vote” takes place.

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March 12, 2019 at 11:19 am #31565
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WOW at about 11.03am this morning (i.e. Tuesday) dramatic simultaneous fall off of Pound v Euro and Pound v USD. Within a period of 3 minutes a cent and a quarter off the Euro exchange rate and 2 cents off the USD rate, pretty much wiping all of yesterday’s big gains in just 180 seconds or so. Fall v the Euro continuing as I type. Take a look.

EDIT – Ah now I see that its Cox that caused it. He’s said that May’s new bits “reduce” the risk of a trap and not that it removes it.

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During the Covid-19 Epidemic I will be wearing a mask and goggles while posting so that if I become infected I won't spread it to you.
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