Tony Redondo

The Pound has risen to a 14-week high today against the South African Rand, its strongest level since early December 2025. However, the Pound's recovery may prove short-lived. The benchmark UK 10-year gilt yield has rocketed to 4.97% — its highest level since the GFC of 2008.

Speaking to Newspage, Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, is concerned: “Sadly, the worst is yet to come as the Iran conflict will be a significant catalyst for UK redundancies in 2026.

As expected, the BoE (Bank of England) help interest rates unchanged at 3.75% this lunchtime but the minutes of the meeting make clear they would have cut if it weren’t for the Iran war.

Ayn Rand understood something that most economists refuse to acknowledge: the moral case for capitalism isn't about efficiency or outcomes, but about human nature and individual rights. While Chicago School types fumbled around with utilitarian arguments and Keynes pushed his theft-based economics, Rand cut straight to the philosophical core. Her genius wasn't in economic theory per se, but in recognizing that economics flows from ethics. You cannot have sound economics built on the premise that some humans exist to serve others. The collectivist mindset that birthed central banking, progressive taxation, and the welfare state stems from the same moral rot: the idea that individual achievement is somehow a debt owed to society. Rand's critics—mostly government-funded academics and their useful idiots—love to attack her fictional characters while ignoring her central insight. Every economic intervention, from price controls to antitrust laws, rests on the premise that productive individuals have no right to the fruits of their labor. Every regulatory agency assumes bureaucrats know better than market participants how to allocate resources. But here's what drives the statists insane about Rand: she refused to apologize for success. While modern libertarians often accept the Left's moral framework and argue that free markets coincidentally help the poor, Rand said the quiet part out loud. Capitalism is moral because it rewards virtue—rationality, productivity, trade—and punishes vice. The Austrian School provides the economic framework, but Rand provided the moral foundation that makes resistance to state power philosophically coherent. Without that moral clarity, you end up with compromise, pragmatism, and eventually the acceptance of "necessary" government interventions that metastasize into the bloated surveillance states we inhabit today.

Tony Redondo, founder of Cosmos Currency Exchange, noted that the broader trend reflects households “finally collapsing under accumulated debt from previous years”. UK insolvencies jump 18% as households hit breaking point amid rising costs

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Check out the latest article in my newsletter: Is the UK Heading for Stagflation in 2026? GDP Stagnation, Oil Prices and the Ghost of Adam Smith linkedin.com/pulse/uk-headi… via @LinkedIn

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Of all the Chancellors this country has ever had, I’m struggling to find one who has been as egregiously out of their depth as Rachel Reeves. Rachel Reeves is 'eviscerating' UK's on the brink economy – 'out of her depth!' | Personal Finance | Finance | Express.co.uk

The US Dollar has climbed this morning to its highest level against the Pound Sterling since the 2nd of December 2025. It’s a classic double-whammy with Dollar strength combined with Pound weakness.

Excellent news for any client looking to move Pounds Sterling into Euros. The Pound is up this morning, trading at its best level against the Euro since August 2025 — just nine pips off its best rate since 11th July 2025.

Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, added: "UK petrol prices are projected to climb toward 165p per litre after this morning’s rise in the price of Brent crude to $120 per barrel due to Middle East tensions. birminghammail.co.uk/motoring/motor…

The Pound is trading this morning at a 9-day high against the US Dollar after global commodity markets experienced their most volatile session on record after WTI crude traded in an incredible $40 range.

Check out the latest article in my newsletter: Why Is the Pound Rising in March 2026? Iran Conflict, Oil Prices, and Bank of England Rate Cuts Explained linkedin.com/pulse/why-poun… via @LinkedIn

The Pound is finishing this tumultuous first week of March trading at a four-week high against the Euro, having gained over 1.25% in value. This marks the Pound's biggest weekly gain against the Euro since April 2025.

The Pound is currently trading at a 16-day high against the Euro with the markets having to completely reprice their Bank of England interest rate expectations for 2026.

Tony Redondo, founder of Cosmos Currency Exchange, said the shift in expectations had been dramatic. “With 2-year gilt yields hitting December highs due to a 40 per cent surge in UK gas prices and oil nearing $80, the Bank of England faces a significant inflationary shock.”

Tony Redondo, founder at Cosmos Currency Exchange, said that while the $6,000 mark is conceivable in the near term, it would require sustained escalation. bmmagazine.co.uk/in-business/go…

The dollar has rediscovered its safe-haven credentials. The Dollar has gained nearly 1% against the Pound to hit its highest level since 17 January. Against the Euro, the Dollar is up over 0.8% to hit its best level since 22 January.

Check out the latest article in my newsletter: Beyond the Spring Statement: Why State Power and Regulation are Stifling UK Productivity linkedin.com/pulse/beyond-s… via @LinkedIn