Pound Movement
Often times we think that certain people don’t influence the markets and that they move only on statistics and earnings, but that is not always the case. David Walton is known all around the currency world as the only member of the Bank of England to want a rate hike in the past couple of months. Walton has died and this is beginning to wonder some about the pound and from this a few see the image of George Soros and his rise to fame of shorting the pound. With this news the pound has been sliding a bit as it now is 1.82 to the USD. In the coming days many will be watching the movement of the British pound and checking on the interest rate movement. Will it go up or will it go down?
Finance News
- Layoffs are coming to 7,500 workers at Allianz.
- Airlines are in a bit of heat as a price fixing probe is investigation several airlines. While they are at it they better probe several energy sectors too.
- Federated Department Stores is selling Lord & Taylor department store for $1.2 billion in cash.
- Slow summer growth is putting fears to investors as the markets are reflecting their fears by taking a little dip. Along with this fear people are looking ahead to the Federal interest rate coming up soon. The only thing looking up in markets is the Nikkei which has hit 15,000 on a rally from the tech stocks and the price of oil as it is getting ever so close to 71.
