Sterling recoups some losses after 10 percent plunge; stocks slip



Sterling recouped some losses after plunging almost 10 percent on Friday amid growing fears of a "hard" exit by Britain from the European Union that sent a shiver through world stocks markets ahead of U.S. jobs data.
The pound nosedived from $1.2600 to $1.1378 in a matter of seconds as one point in Asia after crashing through key support levels, triggering a wave of selling. The lowest of the trades was later cancelled.
But it quickly bounced and it was around 1.2455 by 0900 GMT, still down about 1.3 percent from late U.S. levels and leaving traders feeling bruised and a little... read more

 
7 October 2016 in World News, Views: 31
Source: Reuters
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