TAP – Don’t worry about Sterling’s fall. It takes a dive every eight years regular as clockwork, and this the eighth year. All falls have sharp bottoms, so wherever the pound heads to, whether it’s be $1.00 or even $0.80, the rate will be very short lived and by about March next year it will be starting to climb back up again. The eight year falls usually bottom in January, or the 1st quarter. No one should panic and change policy based on the movement of the currency, which is heavily manipulated by the bankers. Theresa May claims she has had to give way on her Hard Brexit strategy because of the fall in the currency. Bullshit! It’s just choreography. The freer we are, the better our economy will do, but that’s not what they want. She’s just a part of the corporate game. Come to that, the lower our currency falls the more productive we will be too. The exchange rate is just a prearranged excuse for backing down to the cabalists.
The pound rallied over 1% against the U.S. dollar on Wednesday, after British Prime Minister Theresa May was forced give way to MPs over how much influence Parliament has over her Brexit plan. GBP/USD hit 1.2325 during European morning trade, the session high; the pair subsequently consolidated at 1.2284, up 1.31%. Cable was likely to find support at 1.2086, Tuesday’s low and resistance at 1.2453, Monday’s high. The British Prime Minister was effectively pushed into allowing Tory MPs on Tuesday to vote for a Labour motion calling for greater scrutiny of her Brexit proposals. The motion, which demands that MPs scrutinise May’s negotiating position before she starts withdrawal talks with other EU states, is not binding on the government but underlines the weakness of the Prime Minister’s position in Parliament. The pound had been under broad selling pressure since last week amid growing concerns over a ‘hard Brexit’ for Britain. Citing leaked government papers, the Times reported on Tuesday that the U.K. could lose up to £66 billion a year under a “hard Brexit”.