At this time, not only Quantum Fund, Goldman Sachs, Morgan, NatWestminster Bank, Huaxia Bank and other institutions are selling the pound, but some keen international foreign exchange speculators have also discovered the abnormal decline of the pound.

In an instant, their eyes lit up, and they dialed the phone at hand as quickly as possible.

After the two incidents of the Finnish mark and the lira, except for a small number of speculators who rebelled against the general trend and lost their fortunes and had no underwear left, the rest of the foreign exchange speculators basically tasted the sweetness.

And it's not just the United Kingdom, France and other member countries of the European exchange rate system that have a hunch that the quantum fund's offensive is not completely over, otherwise how could the eight countries ask Germany to reduce the interest rate on bank deposits, and they are small speculators who naturally feel the same way.

For a time, under the impact of tens of billions of dollars of pound bears, the exchange rate of the pound fell rapidly at a speed visible to the naked eye, and at 1:56 New York time, it was successfully smashed down by 200 basis points, and continued to fall rapidly every minute, at a rate of 100 basis points.

Hearing the fund manager's report, the corners of Soros's mouth curled slightly, he casually turned over a page, and then said: "Since everyone has already entered, then the offensive will slow down, don't shoot the ammunition too fast, and give those British guys a surprise tomorrow morning." ”

The fund manager paused for a moment, and looked at Soros with some puzzlement, just now Mr. Soros was in a hurry to lower the exchange rate of the pound to 200 basis points in ten minutes, why is he suddenly not in a hurry now?

But after thinking about it, he nodded in understanding.

As mentioned before, in addition to being strong and experienced, the most important thing to manipulate foreign exchange is to understand people's hearts.

After all, this is psychological warfare!

Whoever can influence 90% of retail investors and let these retail investors follow their baton will have the last laugh and become a big winner and get countless profits.

If they now run out of ammunition in their hands in one go, maybe the situation will look very beautiful, and it is not surprising that the pound will definitely be beaten by 20%, or even 25%.

But the question is, once tomorrow during the day, the British government goes to work and starts to fight back, then what will they do, how to resist the British government's counterattack?

If they can't resist, it is very likely that a counterattack by the British government will completely regain lost ground, and even cause the pound to rise in a wave.

There is no way, who can really influence this battle is the majority of retail investors.

According to what he knows about those retail investors, once those retail investors who are like grass on the wall find that the pound is showing signs of recovery, and it is a large-scale, rapid recovery, they will definitely buy the pound faster than the pound just sold and work with the British government to strangle their hedge funds.

In normal times, the trading volume of the foreign exchange market is about one trillion dollars, and the pound accounts for 20% of the world's share, which means that the trading volume of the pound is usually 200 billion dollars, and in this kind of war that wants to lower the pound exchange rate by 20%, the trading volume of the pound has quadrupled or five, and it is definitely not a problem to reach the level of trillion trading volume.

What they hold in their hands, the seven or eight billion dollars of pound shorts, in the face of trillions of trading volume, is really insignificant, and it is not enough to see at all.

When the foreign exchange market in New York was closed, the exchange rate of the British pound against the German mark officially ended with a decline of almost 600 points.

In the Wellington foreign exchange market in New Zealand, which opened immediately after the market opened, the exchange rate of the British pound against the German mark was urgently adjusted from 2.95 to 2.9, a reduction of 500 basis points.

But what is strange is that the rate of decline of the pound in the Wellington foreign exchange market is much slower than that of the previous New York foreign exchange market, and even a little different.

The New York foreign exchange market used to decline at a rate of 100 basis points per minute, but now it is only a few basis points per minute, and sometimes it rebounds by a few basis points.

Of course, this rate of decline is already a flying speed compared to the usual fluctuations of plus or minus 50 basis points at the end of the day.

At this time, not only the quantum fund, but even Zhu Changhong, the Chinese national team, Goldman Sachs, Morgan and other financial predators have also closed a lot, completely selling the pound slowly at a rate of hundreds of thousands of dollars per minute.

They all know very well that this is just the beginning of the big show, and the real show is still to come, and what countermeasures the British government and the Bank of England will make, this is what they really need to care about and care about.

It can be said that the main force that made the pound really fall at this time is the majority of retail investors.

But in any case, the exchange rate of the pound continues to move towards 2.7780.

2.7780 is the lowest floor of the exchange rate of the British pound against the German mark in the European exchange rate system, once the British pound falls below 2.7780, according to the agreement, the British pound can only withdraw from the European exchange rate system, do not affect other countries.

After all, once the minimum floor is breached, it means that not only the UK does not have the means to save the pound exchange rate, but the entire European exchange rate system has no means to save it.

At this time, what Britain should do, and the only thing it can do, is to completely let go, like the Finnish mark and Italian lira before, change the exchange rate to a floating exchange rate, and let the exchange rate fall, so as to preserve the little foreign exchange reserves left.

Therefore, 2.7780 is also the bottom line in everyone's hearts, and once it is broken, everyone will throw away the pound in their hands, whether it is short or long, in an attempt to avoid greater losses.

At this moment, the Bank of England, the bank clerk on duty, watched, the pound exchange rate, which had fallen by nearly 800 points, finally could not hold on again, and howled loudly: "Is the Norman governor here, our pound is being slaughtered! If we do not make any reaction, the pound will inevitably withdraw from the European exchange rate system, and it will be a great disaster for all of us, and all the British people will have to pay a heavy price for it." ”

With the lessons of the Finnish mark and lira before, the Bank of England has strengthened the monitoring of the pound exchange rate early on, not only during the day, but even at night, there is a monitoring team of ten people, keeping an eye on the pound exchange rate of the world's eight largest foreign exchange markets.

As an old capitalist power, the empire never set, and now the birthplace of the financial system, the Bank of England has encountered countless turmoil and crises, and the Bank of England has performed well to its position.

Therefore, as early as when the New York foreign exchange market was not closed, they had already discovered the strange decline of the pound, and before the New York foreign exchange market closed, they reported the information to the bank president, Sir Norman, through layers of channels.

But the pound is falling too fast!

Despair pervades the bank.

Because they knew in their hearts that even if Governor Norman came, it would not help.

It's eleven o'clock in the evening, and the big guys are already resting, and it's impossible to make any more effective decisions.

And with the current efficiency of the top decision-makers in the UK, even if all the big names are called up now, they will probably have to discuss until tomorrow morning, before the London foreign exchange market opens, before they can come up with a real countermeasure.