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And UK exports of course 👍

The pound will plummet this year as Britain grapples with falling house prices and rising unemployment, according to analysts.

Sterling will fall against the dollar to $1.22 by the end of October, which would be the lowest since March, according to investment bank Nomura.

It would mark a 3.7pc drop from its current level just below $1.27.

It comes as Nationwide revealed that house prices have fallen by 5.3pc since their peak in August last year, with Capital Economics predicting prices will slump 10.5pc from that level by the middle of next year.

Nomura analysts said it is rare for the pound to rally when house prices suffer and that sterling also traditionally suffers when the global economy weakens and unemployment rises.

In a note to investors, Nomura FX strategist Jordan Rochester said: “It’s rare to have GBP perform well, when it’s housing market is like this over the past 15yrs…another reason why GBP could head towards 1.22.”

Yup, bought CNA @ 87p. Sitting pretty with dividend resumption 👍

Old news and has been done already on other threads.

Morning 88,

Indeed. There seems to be a panic to get inflation down quickly with rate rises which risks tipping the world into a global recession. I would hope at maximum there is just one more rate rise here and in the USA. Most of the rate rises haven’t had full effect yet. I’m in the Liam Halligan camp of stopping rate rises and wait and see. I trust Powell more than Bailey. A lot of Powell’s rhetoric is aimed at getting companies to moderate price increases and wage settlements through fear of higher rates. Bailey on the other hand is completely out of his depth and is dealing with a more fragile economy than the USA’s. He’s probably too stupid to realise that sadly.

More obvious articles from Darth promoting his love of doom and gloom. How tedious 🙄

I suggest you use the filter button. Works for me. I presume it’s a monotonous tirade against landlords again. I doubt he’s even a shareholder of Lloyds. Just a troll venting his spleen about some landlord that’s booted him out of his/her property in the past.

Sorry to hear that. This has been coming for a while sadly. If there’s any silver lining, at least your kids can sit out a declining housing market.

Great news and look forward to a restart in dividends soon. Archie Norman is a legend at turning companies around. Always invest where he goes. Showing a good profit here.

Another doom article Darth ?

Insanity putting rates up again next month. But knowing Bailey and the BoE’s incompetence, they probably will 🙄 Most of the rate rises haven’t taken effect yet and inflation is already heading in the right direction. Yes, the housing market will suffer with another rate rise and increase the chances of a UK recession.

Careful stagecoach or the Remoaners will join in too giving their slant on things……

Don’t let Darth read this livestock 🤣

Quite. Motoring along nicely. Famous last words….😂

So Chuckleberry,

You would rather the shares were bought in the market and then given away ? Are you for real ? Who would you give them to ? Boat migrants ?

September is traditionally not a good month for the markets. I wouldn’t say the Santa rally has started just yet…….😉

The pound has surged against the dollar amid signs that the US Federal Reserve will not need to increase interest rates further.

Sterling has gained 0.5pc to tip above $1.27 after US economic growth was revised lower for the three months to June.

Gross domestic product increased by 2.1pc in the second quarter, which was revised down from the 2.4pc pace reported last month.

Meanwhile, private sector hiring in the United States slowed more than expected in August, according to data from payroll firm ADP, as a boom from the leisure and hospitality sectors faded.

Job growth came in at 177,000 this month, sharply below July’s 371,000 figure which was revised upwards, said ADP in its latest report.

Traders have subsequently cut bets on money markets for an interest rate increase at the US Federal Reserve’s next meeting on September 20. The federal funds rate is currently 5.25pc to 5.5pc

European bonds have fallen after the latest data suggested inflation may not yet be on the retreat in the eurozone’s largest economy.

Germany’s 10-year yield jumped four basis points to 2.55pc after the consumer price index in the bellwether state of North Rhine-Westphalia rose in August, indicating that overall German inflation is accelerating.

UK 10-year gilt yields were up two basis points to 4.44pc, while Italian benchmark bonds were up six basis points to 4.2pc.

However, the Stoxx Europe 600 has gained 0.3pc and the Dax index in Frankfurt has gained 0.2pc.

The German inflation data muddied the water for European policy makers after unexpectedly weak jobs and consumer-confidence readings in the US on Tuesday.

North Rhine-Westphalia is the first German state to report August inflation readings and can often be a signal of the trend in the overall figure, which the German statistics office will release later today.

Earlier, Spain revealed inflation has risen in Europe’s fourth-largest economy for the second straight month.

Morning 88. Yes hopefully the US indicators are starting to point to an end to rate rises. Hopefully in the UK too 🤞

They wouldn’t have had to disclose until they reached 0.5% so the short may have been built up in tranches. Marshall Wace came unstuck shorting Lloyds shares as I recall a while back. I suspect they’re just betting on a UK recession, further housing market downturn and increased bad debt provisions at final result stage.