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...“We are a good domestic house, but we face lots of headwinds: Mifid II, global investors seeing the UK as a backwater and sterling as an isolated and idiosyncratic currency,” said one of the people with...
...Truss’s September 2022 “mini-Budget”, which involved extensive unfunded tax cuts, spooked financial markets, triggering a jump in UK government borrowing costs, a slide in sterling and a pensions system...
...Bridgewater’s short position was smaller in percentage terms but a similar size in sterling terms....
...(Or, going further back, New Labour’s evocation of Black Wednesday, September 1992, when sterling was ejected from the exchange rate mechanism of the European monetary system....
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...Harold Wilson’s devaluation of sterling in 1967 haunted Labour until Tony Blair became leader, while it took the global financial crisis to repair the damage the Conservative party suffered from the UK’s...
...He previously worked for Shearman & Sterling, and has completed secondments at BlackRock and Goldman Sachs....
...“We will also — as a second and parallel step — reach out to a broader set of NBFIs active in core sterling markets to explore how access might be expanded beyond ICPFs over time,” Hauser added....
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...“The price floor for sterling is that people have to acquire sterling to pay their taxes. The price floor for crypto, if there is one, is dark money flows, money-laundering and crime.”...
...Follow Stephen on Twitter @stephenkb and please send gossip, thoughts and feedback to insidepolitics@ft.com. A unity candidate? In this party? At this time of year?...
...Follow Stephen on Twitter @stephenkb and please send gossip, thoughts and feedback to insidepolitics@ft.com....
...“Leveraged funds are not aggressively short against [sterling],” said Stephen Gallo, European head of FX strategy at BMO Capital Markets....
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...Follow Stephen on Twitter @stephenkb and please send gossip, thoughts and feedback to insidepolitics@ft.com. I fought Scholar....
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