CLACKMANNANSHIRE MOVED THE POUND UP The only thing I know about Clackmannanshire is that its the smallest county in Britain, even smaller than Rutland and that its somewhere in the middle of Scotland. And I bet many people throughout the U.K have never heard of it. But on September 19th, as the results for the indyref began to tumble out, Clackmannanshire moved the pounds foreign exchange value a significant amount. When the foreign exchange market, which trades around the clock, heard that Clackmannanshire had voted NO, the pound soared UP. Your foreign holiday just got cheaper. The markets make up their minds quickly, or rather this news had probably been pre-programmed as a buy. Clackmannanshire had been expected to vote Yes, so when it voted No that was a clear signal that so would Scotland as a whole. And the U.K would be safe. Because of the time of the result, it was probably forex traders in pro British Hong Kong that actually did it. So Clackmannanshire had its five minutes of fame. It will never move the forex market again. Well done Clackmannashire !
Posted on: Mon, 06 Oct 2014 09:02:16 +0000
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