The Alchemist - The perfect storm for sterling

Sterling hit a 10-month low against the dollar last week, to the clear surprise of many advisors.

While they understand the dollar has surged, despite the undiminished size of US budget, because the greenback is regarded as a safe haven in a world with not many certainties, why has sterling crumbled? Well, here is the thing. Unlike most of the UK population, which recent reports found struggled to divide 0.25 by 0.5, the markets and those who trade them love numbers. They are not too good with words (more of that later), but love data, figures, statistics and ratios. They turn them upside down, inside out, back to front and shake them all around. By the time they are finished, there ...