| Topic: | State of play today | |
| Posted by: | Paul Morris | |
| Date/Time: | 27/06/16 16:15:00 |
| FOr those that are interested, approximate market closes today: Pound vs dollar 1.316, down 4% today, after around 8% fall Friday (30 year low) Pound vs euro, 1.1994, down 2% FTSE 250 (UK focused companies), down 7%. BArrat down 20% , RBS down 16%, Barclays 18% (All after bigger falls Friday). My (simple) view would be we will see sterling settle at around 1.2 to dollar and 1.1 to euro. Inflation set to rise, perhaps markedly, for example 6-8p on petrol, plus food prices, electricals etc. Market estimates of around 0.2% GDP growth 2017, possibly couple of quarters of negative growth. OBR to hugely revise up the budget deficit, tax raising measures will come sooner or later. Not a moan, sorry if I am not looking on bright side of life, or doing country down. So we are all already, both as a country and individually, worse off. Still wiating for the dream team of Boris and Gove to tell us the plan, as they surely do have one..... |