Naijacrux News:Welcome to Naijacrux Online Forum...remember to register to enjoy much more update!!!New Updates From Naijacrux -Naijacrux Is Now Mobile Friendly - Download Our Android App On Our Forum Rules And Announcement Section.Our App Will be Live On Google Playstore And IOS Store Soon Aswell - CLICK HERE TO DOWNLOAD NAIJACRUX ANDROID APP !!! Dear Guest And Naijacrux Dedicated Members,!!! ,  You Can Now Receive Naijacrux Weekly New Post and Updates Via Email by Subscribing To Our Newsletter Using The Subscribe Button Above The Naijacrux Announcement And Discussion At The Top Home Page!!Never Miss A New Post And Updates Again.!Thank You.  !!!YOU ARE WELCOME TO NAIJACRUX INFORMATIVE LEARNING AND INTERACTIVE FORUM.This Website is an Intensive Forum of Learning We recommend you Register & Login to Enjoy much free stuffs ::>>Also remember to Update your Profile Immediately after registration. Thank you!>>>!!!!To All Advertisers And Patronizers, kindly Send Mail To [email protected] For adverts Placement. thanks!!!

Random Pagan Verse:
Hew wood in wind-time,
in fine weather sail,
Tell in the night-time tales to house-girls,
For too many eyes are open by day:
From a ship expect speed, from a shield, cover,
Keenness from a sword,
but a kiss from a girl.

Author Topic: British Pound tumbled again as gold shines amid Brexit woes  (Read 1204 times)

0 Members and 1 Guest are viewing this topic.

Offline mastercode (OP)

  • Global Moderator
  • Hero Member
  • *****
  • Date Registered: Jul 2014
  • Posts: 2498
  • Thanked: 8 times
  • Karma: +0/-0
    • View Profile
    • Naijacrux

The British pound has tumbled to a new 31-year low as risk-averse investors flee financial market uncertainty sparked by the Brexit vote. They have turned to the Japanese yen and gold as safe-haven assets.

Amid mounting Brexit woes, global investors have shunned Britain's currency, driving the pound in European trading on Wednesday briefly below $1.28 (1,15 euros) - a new 31-year low - before the currency slightly recovered.
In Asian trading earlier in the day, the pound even fell as low as 1.2798 against the US dollar - its lowest level since June 1985 - and cutting about 13 percent off the value of the currency since Britons voted to leave the EU in a referendum on June 23.
Concern has grown in the past two days about financial stress in global markets as a result of weakening growth in the wake of the referendum. Adding to the woes was a move by the Bank of England on Tuesday to lower banks' capital requirements in support of post-Brexit lending, which analysts view as a prelude to further monetary easing, likely to drive the pound even lower.
In a further sign of market uncertainty, three of Britain's biggest property funds suspended trading earlier this week, following increasing redemptions by investors, who expect falling UK real estate prices.
"Just when you thought it was 'safe to go back in the water,' the pound got pounded as speculation around Brexit forms into something more concrete," said Stephen Innes, senior trader at OANDA Asia Pacific.



British Pound falls to 30-yr low against US dollar after EU exit

Started by yungcrux

Replies: 0
Views: 1071
Last post June 27, 2016, 07:29:03 PM
by yungcrux