Well, I just don’t get it. The fall in the pound seems to be because of the generally poor economic situation in the UK, but is Europe really that much netter? I just cannot see that the drop in the pound (vs the euro) is supportable by the objective reality of the situation. I suspect that what is really going on is the same kind of speculative manipulation of the markets that pushed oil to such an extreme high earlier in the year.
Of course, I am no economist and I could easily be wrong. But I just cannot see that there is a solid case for the pound falling to these new predicted lows. In fact, I cannot see the current levels are supportable either.
Does anyone here know on what grounds these new lows are being predicted?