Sterling fails to shake off hard-Brexit blues

Sterling fails to shake off hard-Brexit blues
 

Sterling slipped below $1.24 on Monday, extending last week's heavy losses, as investors bet that Britain will undergo a "hard Brexit" - a total split from Europe's single market.
Trading in the pound was markedly calmer than on Friday, when a "flash crash" wiped out a tenth of its value in a matter of minutes in early Asian trade. But sentiment towards sterling remained gloomy, with speculators' bets against it having reached record highs in the week to last Tuesday. [IMM/FX]
Losses accelerated last week on Brexit worries, after Prime Minister Theresa May set a March... read more

 
11 October 2016 in Business, Views: 38
Source: Reuters
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