Pound tumbles to 31-year low, Deutsche Bank bounces
Britain’s pound slumped to a three-decade low on Tuesday as concerns over Brexit were compounded by the renewed strength of the dollar on resurgent U.S. interest rate hike expectations.
Sterling was at its weakest since 1985, hit by a growing sense that the UK may be heading for a 'hard' Brexit where it severs links to the EU's single market in favour of total control over immigration.
Robust construction data couldn't prevent another 0.7 percent fall for the pound as it extended Monday's heavy tumble to wallow at $1.2750 GBP=D4 and a three-year low of 87.50 pence per euro EURGBP=D4.... read more
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