It is reported that the pound suffered a sudden six percent loss in value against the dollar during currency trading on 7 October.
The pound has had a dreadful day,
No fun for those who have to pay,
Because it did just take a dive,
Percentage loss? – just more than five.
Why this occurred is not yet known,
But Brexit’s made the pound more prone,
To ups and downs and sudden shocks,
But still it shouldn’t hit the rocks.
One reason for the fall might be,
A trader who just tapped his key,
A few more times than what he ought,
So billions more were sold or bought.
Or maybe he just fell asleep,
So didn’t hear his laptop beep,
And failed to see the charts all drop,
So now he’s likely for the chop.
But here is a coincidence,
Which might just help to make some sense,
Of just what has been going on,
Or if it might all be a con.
For at the time the value fell,
A story broke which sought to dwell,
On comments made by F. Hollande,
In which he once again had warned,
Britain must pay a heavy price,
With tariffs on its merchandise,
For daring to vote to be free,
From diktats of the EEC.
And maybe some computer code,
Saw this and went in selling mode,
The market then went jittery,
And now the rest is history.
No doubt in time we will find out,
But p’rhaps for now that Gallic lout,
Who may be gone before too long,
Should really try to hold his tongue.
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