Why the Pound Is Headed for Trouble Again
Leaders with Francine Lacqua
Bloomberg
4.6 • 64 Ratings
🗓️ 28 September 2023
⏱️ 23 minutes
🧾️ Download transcript
Summary
The pound is notoriously difficult to trade. It’s a “graveyard for G-10 traders,” says Mark Cudmore, senior macro strategist for Bloomberg’s Markets Live blog. When it comes to making calls on the British currency, he says, “people only ever lose money.”
Cudmore joins reporter Sofia Horta e Costa on this week’s In the City to try and make sense of why markets are again turning on sterling, just one year after ex-Prime Minister Liz Truss’s spending plans drove the pound to a record low.
See omnystudio.com/listener for privacy information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | You can get the news whenever you want it with Bloomberg News Now. I'm Amy Morris. And I'm Karen |
| 0:06.3 | Moscow here to tell you about our new on-demand news report delivered right to your podcast feed. |
| 0:12.4 | Bloomberg News Now is a short five-minute audio report on the day's top stories. Episodes are |
| 0:17.9 | published throughout the day with the latest information and data to keep you informed. |
| 0:22.4 | Yes, there are other products like this from a variety of news organizations, but they usually |
| 0:27.9 | rerun their radio newscasts throughout the day. That's not what we do. We create customized |
| 0:33.8 | episodes that can only be heard on Bloomberg News Now. |
| 0:39.6 | And we don't wait an hour to publish breaking news. |
| 0:43.5 | When news breaks, we'll have an episode up in your podcast feed within minutes. So you're always getting the latest stories and developments. |
| 0:46.9 | Get the reporting and the context from Bloomberg's 3,000 journalists and analysts |
| 0:51.4 | we're all over the world. |
| 0:53.0 | Listen to the latest from Bloomberg News |
| 0:54.9 | now on Apple, Spotify or anywhere you listen. The pound is a graveyard for like G10 traders. |
| 1:01.6 | The pound people only ever lose money on, even though it seems obvious. So just why is the pound |
| 1:07.6 | so unpredictable? It was a year ago this week that it hit a record low against the dollar. |
| 1:13.8 | Since then it's been one of the best performing currencies in the G10, but now analysts are |
| 1:17.7 | calling for further slides as the outlook for the UK darkens. |
| 1:23.9 | I'm David Merritt. |
| 1:24.9 | Welcome to In the City, Bloomberg's podcast connecting you to the conversations at the heart of the city of London. |
| 1:31.4 | This week, we dig into The Outlook for the Pound with me in the London studio. |
| 1:35.6 | We have Mark Hardmore, senior macro strategists on our Markets Live team and co-hosts of our Markets Today program on Bloomberg Television. |
| 1:43.9 | And also Sophia Horta E Costa from our brilliant Markets Today program on BluV television, and also Sophia Horta Acosta from our brilliant |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Bloomberg, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Bloomberg and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.