10 days to define the United Kingdom

By Mike Peacock
September 8, 2014

The Flag of Scotland, the Saltire, blows in the wind near Berwick-upon-Tweed on the border between England and Scotland

The earthquake may be about to happen. Over the weekend the first opinion poll putting the independence campaign ahead landed with a resounding thump.

Rip-off Britain on the line

March 13, 2013

For all the talk about imported inflation in the UK as policymakers talk down the pound and financial markets merrily give it a good beating, here’s a stark reminder that a lot of British inflation remains home-grown.

Time already to switch off the sterling printing presses?

October 25, 2012

A clutch of top UK economic forecasters on Thursday swept under the rug predictions for another 50 billion pounds of gilt purchases they thought would take place starting just in a few weeks.

from Global Investing:

Pity Poor Pound

October 14, 2009

Britain's pound has long been the whipping boy of notoriously fickle currency markets, but there are worrying signs that it's not just hedge funds and speculators who have lost faith in sterling. Reuters FX columnist Neal Kimberley neatly illustrated yesterday just how poor sentiment toward sterling in the dealing rooms has become and the graphic below (on the sharp buildup of speculative 'short' positsions seen in U.S. Commodity Futures Trading Commission data) shows how deeply that negative view has become entrenched.              

Strolling away from the dollar

March 31, 2009

All this talk about ditching the dollar as world reserve currency may be irrelevant — central banks are already walking away.  The latest International Monetary Fund figures show dollar share of world FX reserves falling to 64.0 percent in last year’s fourth quarter from 64.4 percent the previous quarter. Doesn’t sound much, but at that pace dollar is less than half of world reserves in less than a decade. years. It was the same for once mighty sterling. The pound’s share dropped to 4 percent from 4.5 percent. The euro rose 1 percentage point to 26.5 percent.

Rip-off Britain or the cost of cheaper sterling?

February 17, 2009

Inflation is plunging faster than analysts are forecasting just about everywhere in the developed world. Except for Britain. Those accustomed to high prices and inflation-busting increases in tube and rail fares at the start of every year were probably not surprised.

from Davos Notebook:

London — warmer and cheaper

January 29, 2009

London is cheaper and warmer, at least compared with Davos, says London Mayor Boris Johnson.

from Global Investing:

Wish I hadn’t said that…

January 21, 2009

As sterling sinks to a 7-1/2 year low against the dollar, traders and investors are wondering who was the established political figure that made the following comments when Britain was kicked out of the Exchange Rate Mechanism in 1992.