FX comment: PR puffery has shock news
Our inboxes have been filled to the brim over the last few weeks with guff from every ‘expert’ around, all wanting to give their informed opinion on the state of sterling.
I’m no economist, but isn’t this just a case of: crashing economy + accelerating debt + hung parliament = bad times for sterling? Still, we love a PR that sends us an eloquent statement of the obvious.
Run for cover! Sterling is a ticking time bomb, says Simon Brown, CEO at ProSpreads: “With the election looming it’s all eyes on sterling. As always at this time of the election cycle much of the attention amongst global FX players is towards sterling. And by ‘attention’ I don’t mean necessarily buying interest, especially with the prospect of a hung parliament. Recent polls suggest that the battling election parties are failing to gain a sufficient majority over each other and therefore a hung parliament is a strong contender when the nation goes to vote in what is most likely to be early May. This is a time bomb that could definitely produce catastrophic circumstances for sterling.” Thanks.
With sterling in such a bad way, even computer games could be affected. Anthony Hogarth from computer games wholesaler Creative Distribution says: “Keeping a close eye on the foreign exchange market has always been important part of our business.”
But help is at hand.