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The UK's Crown Jewel Print
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The UK's Crown Jewel

The Jewel in the UK's crown is, and has been for the last four+ decades, the City of London. City bankers and banking can do no wrong, as we discovered in 2007/8. Banking and finance delivering the largest tax yield of any sector of British industry.

The City of London is a dominant centre in world and European finance. If Europe really wanted to cause a problem for the UK leaving the club of 27, quashing a deal on financial cross border services is where they could do most damage.

Last Thursday a rumour gathered momentum.

Leaks dripped out from the 'secret' meetings with Brussels. The City could continue to operate as before across the Eurozone. It was later denied, of course, but the rumour was enough to collapse the EURGBP, reversing two weeks of Euro gains in just four days.

Last Thursday was the time to reverse the a-b-c trade and ride the EURGBP down for another 150+ pips.

 

From the blog

The UK's Crown Jewel

The UK's Crown Jewel

The Jewel in the UK's crown is, and has been for the last four+ decades, the City of London. City bankers and banking can do no wrong, as we discovered in 2007/8. Banking and finance delivering the largest tax yield of any sector of British industry.

The City of London is a dominant centre in world and European finance. If Europe really wanted to cause a problem for the UK leaving the club of 27, quashing a deal on financial cross border services is where they could do most damage.

Last Thursday a rumour gathered momentum.

Leaks dripped out from the 'secret' meetings with Brussels. The City could continue to operate as before across the Eurozone. It was later denied, of course, but the rumour was enough to collapse the EURGBP, reversing two weeks of Euro gains in just four days.

Last Thursday was the time to reverse the a-b-c trade and ride the EURGBP down for another 150+ pips.

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