The pound fell for a second week against the dollar after the U.K. election failed to produce an outright winner and stocks slumped worldwide on concern Europe’s debt crisis will worsen.THIS IS EXACTLY WHAT I SAID WOULD HAPPEN IF THE TORIES FELL SHORT - AND I POSTED IT 3 DAYS AGO:
Sterling sank to a 13-month low against the U.S. currency and gilts dropped yesterday after David Cameron’s Conservatives fell more than 30 seats short of winning a majority in Parliament. Losses on 10-year government bonds pushed the yield up by the most since October yesterday. Britain’s currency also slid as a report showed house prices fell last month, fueling concern the economic recovery may falter.
“The Conservatives were expected to do a bit better than this,” said Harry Adams, a currency trader at Schneider Foreign Exchange in London. “Ultimately, markets don’t like uncertainty and we have a lot of it here. I don’t see this being sorted out quickly.”
NO OTHER BLOGGER ANYWHERE PREDICTED THIS.
Thursday, May 06, 2010
BRITS VOTE TODAY; THE WORLD WILL VOTE ON THE RESULTS TOMORROWWATCH THE BRITISH POUND TOMORROW.
IT WILL TANK IF CAMERON ISN'T MADE PM.
Posted by Reliapundit @ 1:39 PM ; PERMALINK
AND IT'S GONNA GET WORSE FOR THE BRITISH POUND AND THE EURO IF CAMERON DOESN'T PUT A GOVERNMENT TOGETHER SOON AND IF THE "GREEK-FLU" SPREADS TO SPAIN AND ITALY.
5/10/10 COULD BE AMONG THE BLACKEST OF BLACK MONDAY'S. STAY TUNED...