GBP

some more encouraging stats recently. GU has gained 400 pips from the 29th May low yet Ashraf makes no mention, except a brief reference to a short trade :-) Sometimes I wonder if AL is unduly anti UK even though he resides here. He is always quick enough to mention any miniscule positive data for the eur and the usd. Adam Button is also unduly anti the BOE and more recently published a scathing attack on the departing Mark Carney from the BOC. I guess in preparation for continued attacks on the poor old BOE :-)

George, the GU made the recent low at the 78.6% level and has since retraced >61.8% level at 1.5377 (current 1.5408). The move back up does not yet look corrective on the daily chart. Implications are for higher prices even if we see a near term correction first.

As to your question I assume you refer to the current plan to promote new house builds. My opinion is this has the potential to ignore the mistakes of the past with the sub prime debacle. Can we trust the politicians and financial industry to employ strict affordability criteria for the tax payer sponsored mortgages ?

There is no evidence that credit reference agencies and banks have reformed. No one sent them back to primary school to learn the meaning of a "loan" and to learn once again how to calculate LTV's and earnings multiples. Who is going to administer and process the new mortgage applications. I have no faith in the financial industry as you know. The job would be better done by moderately well educated 10 year old children.

Strength meter showed today GBP strength constant while USD crashed after weak economic data. Thus cable rose as USD was sold vs JPY. GBPAUD GBPJPY shorts running.
GBP actually is weak. Lives only off very weak USD.
Btw. London Tube stations/lines could be renamed under sponsorship proposals that is Merkel Place, Merkel Palace, Merkel Square etc. All these are serviced by Merkel Line ( uses right track )

nah, not into the black stuff, would rather supervise female pearl divers for Sir Ignore.

I suspect cat is right, best protection for cash savings is greenbacks in the fire safe. Whatever we choose will be wrong, you can be sure of that--so the answer is to be in maybe 3 currencies. I have a safe full of iraqi dinars since july 2004, rather disappointing lol.

big miss on UK retail sales, 1.5030 next