Sterling falls below Friday's 31-year low

[Leonthecat]

Sterling falls below Friday's 31-year low amid Brexit uncertainty
​

Currency markets faced more upheaval on Monday, with traders raining new pain on Britain's pound and the yuan falling to a nearly six-year low against the dollar. This followed a weekend of contemplation after the Brexit vote, which failed to alleviate political and economic uncertainty.

Markets were surprised on Friday when it emerged Britain had voted to leave the European Union (EU), with the leave camp securing 51.9 percent of the vote. Prime Minister David Cameron, a "remain" proponent, announced on Friday that he would resign by October. No immediate successor is lined up, so it appeared the country could become rudderless.

The British currency traded at around $1.320 at 12:10 a.m. London time on Monday, below the 31-year low of $1.3224 reached on Friday.

"No political stability was seen over the weekend," Anthony Darvall, chief market strategist at spread-betting firm easyMarkets, said in a note Monday morning.

"Indeed, more uncertainty was evident as talks of a Scottish referendum and potential Scottish block of the U.K. leave vote is clouding the way forward. European officials have been keen to see the U.K. leave quickly to limit the disturbance to the euro zone."

Others suggested that any light at the end of the tunnel was probably a train.

http://www.cnbc.com/2016/06/26/pound-sterling-set-to-fall-further-as-brexit-uncertainty-continues.html

 

[Phantasmal]

Sterling falls below Friday's 31-year low amid Brexit uncertainty
​

Currency markets faced more upheaval on Monday, with traders raining new pain on Britain's pound and the yuan falling to a nearly six-year low against the dollar. This followed a weekend of contemplation after the Brexit vote, which failed to alleviate political and economic uncertainty.

Markets were surprised on Friday when it emerged Britain had voted to leave the European Union (EU), with the leave camp securing 51.9 percent of the vote. Prime Minister David Cameron, a "remain" proponent, announced on Friday that he would resign by October. No immediate successor is lined up, so it appeared the country could become rudderless.

The British currency traded at around $1.320 at 12:10 a.m. London time on Monday, below the 31-year low of $1.3224 reached on Friday.

"No political stability was seen over the weekend," Anthony Darvall, chief market strategist at spread-betting firm easyMarkets, said in a note Monday morning.

"Indeed, more uncertainty was evident as talks of a Scottish referendum and potential Scottish block of the U.K. leave vote is clouding the way forward. European officials have been keen to see the U.K. leave quickly to limit the disturbance to the euro zone."

Others suggested that any light at the end of the tunnel was probably a train.

http://www.cnbc.com/2016/06/26/pound-sterling-set-to-fall-further-as-brexit-uncertainty-continues.html

I like the last sentence. Could use it in other areas of discussion.

 

[Legion Troll]

How can this be?

Bore-us says everything is fine.

As Boris Johnson left his home this morning, with the markets falling, he told waiting reporters: “I think it’s very good news that the Chancellor has come and said some reassuring things to the markets. The pound is stable, the markets are stable, very good news.”



http://www.mirror.co.uk/news/uk-news/boris-johnson-says-markets-fine-8291959