The British Pound Sterling currency has plunged 500 pips to a record low value of $1.03 in absolute carnage of Foreign Exchange Reserves.
Here's the full chart showing the smash:
The beginning of the end is finally here . . . The GBP is down 23% YTD, worse than most 3rd world currencies.
GBP/USD is sitting right at support levels from 1984.
Strangely, all of a sudden, it is starting to make sense that the Pope ordered all Vatican entitites to move all their funds to the Vatican Bank by September 30 - and most of them have already done so. (Story Here)
BULLETIN: The Chicago Mercantile Exchange (CME) has HALTED trading in GBP futures ! ! ! !
UPDATE 8:10 AM EDT --
It's happening everywhere, Bond prices are cratering, currencies are cratering . . .
BREAKING: Moscow Stock Exchange drops 9.2%
In London, the Financial TImes Stock Exchange (FTSE 100) just hit 6962 (…going down!) On Dec 30 1999 the FTSE hit an intra-day high of 6950 (…going up!!) …are we all set to be like it’s 1999 again?
UPDATE 8:20 AM EDT --
CANADIAN DOLLAR IN FREEFALL
Speculation CAD will drop below 60 cents this week.
A historic low.
Global currency in total freefall.