Probably not very good for my long GBP position but then I think Ambrose often writes a lot of unsubstantiated tripe. You can make your own mind up on his latest article in the UK Telegraph.
11 Responses to “More GBP bearishness from AEP”
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AUTOREFRESH 
gday sean. typical asian mrng with a sell right from the start.
Right on the button there HSBC. Usual Sydney morning, get the stops done in cable above 15080 and straight back to NY close. Can’t see anythg happening today.
Interesting factoid in Ambrose’s piece: Britain’s trump card is an average debt maturity of 14.1 years, nearly three times US maturities and double those of France. This greatly reduces the risk of a “roll-over” crisis.
Ooh I’ve just spotted this – I’m sooo glad you said that Sean
Here’s the offending news that started him off on one
http://www.telegraph.co.uk/news/uknews/7424317/Liam-Byrne-No-new-tax-rises-under-Labour.html
I really wouldn’t want to be called Mrs Purps
And now for Jeffie Randall
http://www.telegraph.co.uk/finance/comment/jeffrandall/7422606/Gordon-Brown-has-terrible-form-when-it-comes-to-keeping-his-promises.html
“In this year’s Gold Cup field there’s a 20-1 shot called Tricky Trickster. Do you ever get the feeling that he’s running the country?”
Whilst every man and his dogette is dining out on our woes, all you really need to do is watch the bookies’ odds on the election.
Hey Sean,
When did you go long cable? You commented yesterday that you liked citi’s recommendation. Are copying citi?
Yes Chris, I saw it liked it and copied it. Looking okay so far.
One of those Amurrican brokerage commercials says, “Traders are always looking for ideas…” Glad I’m not the only one Sean
Recv’d Ashrf Laidi’s book today, loving it! I’m sure I’ll have much more in the way of ideas when I’m through, but still plenty of glib, sarcastic humor in the meantime 
Interesting article, can i ask your view on something- if the deficit is so bad and tax revenue needs to be increased to avoid a crisis/ crash, instead of cuts why not and emergency 2% on income tax for 1 year? what effect would this have on the currency and would it put ‘the markets’ at ease
That sounds like much too sensible a plan Johny especially with an election looming. An yes, I think it probably would put mkts at ease once they’d digested the initial shock.