The British Pound Sterling suffered a "flash crash" on Friday morning Oct 07,2016, its biggest
drop since Britain voted in June to leave the EU, with confused traders
scrambling to understand the reason for the sharp sell-off.
British Pound Sterling fell off a cliff in early Asian trade to hit USD 1.1841 - its lowest level since mid-1985 - before immediately rebounding to around USD 1.2450.
It also collapsed against the euro, with the single currency hitting a seven-year high 94.15 pence, before easing slightly as minutes from the European Central Bank indicated it is unlikely to trim its stimulus any time soon.
The British Pound Sterling has hit several fresh 31-year lows against the dollar this week, after British Prime Minister Theresa May outlined a timetable at the weekend for Britain to leave the European Union by 2019.
British Pound Sterling fell off a cliff in early Asian trade to hit USD 1.1841 - its lowest level since mid-1985 - before immediately rebounding to around USD 1.2450.
It also collapsed against the euro, with the single currency hitting a seven-year high 94.15 pence, before easing slightly as minutes from the European Central Bank indicated it is unlikely to trim its stimulus any time soon.
The British Pound Sterling has hit several fresh 31-year lows against the dollar this week, after British Prime Minister Theresa May outlined a timetable at the weekend for Britain to leave the European Union by 2019.
No comments:
Post a Comment