Markets backing Brown?
At about 8.04 EST today a rumour spread across dealing floors that Gordon Brown had resigned.
The reaction was instant.
Sterling fell. Heavily. Losing 3 cents against the dollar.
Now to me this just shows how fickle markets are and why they often gets things wrong – reacting to untrue news in this case.
But – I would enjoy it if some of my Tory, free market trusting, commentators could enlighten me as to why Gordon Brown leaving was seen as negative by ‘the international markets’?
In other news – there’s an election on. Get out and vote Labour.