Don’t worry everyone. These geniuses have identified the true cause of the pound crash:
I still think the market reaction was mainly to what the mini-Budget said about the BoE decision, but I've thought of a potential secondary factor. The market may have felt that the mini-Budget implied a Labour victory in 2024/25 is more likely than they had previously thought.+
That’s right, the market reacted so briskly to the possibility of a Labour government coming in when we don’t have knowledge of the outcome or even the date of the election. We can’t predict the financial outcomes of Brexit, but we can definitely state the financial impacts of election outcomes for times unspecified.
Their lack of personal responsibility is becoming impossible to satirise.
