Brexit: Positions on the Pound

Lord Dykes Excerpts
Monday 30th September 2019

(4 years, 8 months ago)

Lords Chamber
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Lord Callanan Portrait Lord Callanan
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The noble Baroness speaks with great authority on this subject. Of course, there is no evidence for anybody to report, but if they have evidence, there is regulation on short selling, which is enforced. But I am not aware of anyone providing any evidence beyond scurrilous rumours.

Lord Dykes Portrait Lord Dykes (CB)
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Would the Minister, with his great interest in the history of currencies, care to comment on the long-term record? At a time when the euro is only three points behind the United States dollar as the international leading currency and is shortly due to overtake the dollar for the first time on a long-term basis, does he agree that it is rather sad that, in comparison, the pound sterling has been devalued nine times since the war—three times by government action and six times in the marketplace?