Pound Sharply Lower
The pound is sharply lower this morning, trading at $1.6110 against the dollar and 1.1585 against the euro.
Risk appetite appears to have gone out of the window this morning, with crude oil also sharply lower around $64/barrel.
Gordon McBroon warned over the weekend that the recession may get worse and the Times said that the BoE was set to increase it's QE spending by another £25 billion.
It doesn't take a lot to set off a run on sterling at the best of times, let alone in this jittery day and age.
Still, that may provide an element of underlying support for London wheat later today.
Risk appetite appears to have gone out of the window this morning, with crude oil also sharply lower around $64/barrel.
Gordon McBroon warned over the weekend that the recession may get worse and the Times said that the BoE was set to increase it's QE spending by another £25 billion.
It doesn't take a lot to set off a run on sterling at the best of times, let alone in this jittery day and age.
Still, that may provide an element of underlying support for London wheat later today.
