Sliding Pound and the Media

[MikeyWorld]

Why have the media suddenly put a completely different spin on the sliding pound?

It's gone from "Zimbabwe Britain", "Sterling Plummets", "Pound in Crisis"
to
"Good News for Pensioners*", "FTSE Up 18% Since Brexit*" , "FTSE Powers Ahead**"

*These may have been the same article (Front page of Telegraph?) but there seems to be less doom, despite rising fuel prices.

[dionaeamuscipula]

Why have the media suddenly put a completely different spin on the sliding pound?

It's gone from "Zimbabwe Britain", "Sterling Plummets", "Pound in Crisis"
to
"Good News for Pensioners*", "FTSE Up 18% Since Brexit*" , "FTSE Powers Ahead**"

*These may have been the same article (Front page of Telegraph?) but there seems to be less doom, despite rising fuel prices.

The majority of newspapers were strongly pro-Brexit, so they will continue to run a pro-Brexit line. Also, the papers are generally pro-Tory so will continue to run a pro-Tory line. There is a silver lining in every cloud.

DM

[quelquod]

Reflecting the current reality. Exports are doing well because of the exchange rate falling (our goods cheaper abroad). Many of the components of the FTSE are internationals/multinationals and their results reflect well in the lower-value pound. FTSE has risen sharply on the back of this which is good for pension funds and shareholders. Potential inflation-linked rises have yet to really kick in.

[Slarti]

Because the rate is about the same as it was in 2013/14, rather than the inflated rates in 2015/16?


Slarti

[Breelander]

Because the rate is about the same as it was in 2013/14, rather than the inflated rates in 2015/16?

I assume you're talking about the inflation rate - pity the same can't be said about the exchange rate...

Moderator Message:
This is not really a DAK question and is likely to only attract speculative answers. I am locking this thread. If you wish to continue please could I suggest you start a thread on Polite Discussion or Economy. Thank you. Mel