'Flash crash' hits pound; stocks weak after U.S. jobs data

'Flash crash' hits pound; stocks weak after U.S. jobs data
 

Sterling recouped much of its losses on Friday after a stunning plunge amid fears over Britain's exit from the European Union, while stocks in major markets fell after a weaker-than-expected U.S. jobs report still did not sway expectations for a U.S. rate hike by year-end.
Sterling plummeted in earlier trading, falling nearly 10 percent, on what traders called a "flash crash" that knocked the British currency to a 31-year low. Even before the sudden plunge, the currency had been under pressure this week as some national leaders called for Britain to make a "hard" exit... read more

 
7 October 2016 in World News, Views: 36
Source: Reuters
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