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Pound Fails to Shake Off Wounded Image After Week of Flash Crash

Posted by Chris Advincula on Oct 10, 2016 6:53:40 AM

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(Oct 10 Bloomberg) Sterling resumed its decline as investors remained in the dark about the cause of last week's flash crash and over whether Britain is truly headed for a hard Brexit.

The currency depreciated 4.2 percent last week, its worst performance since June 24. The slide, which accelerated after Prime Minister Theresa May said at her party conference that she'll start the process to pull the U.K. out of the European Union by March, culminated in an unexplained 6.1 percent plunge during about two minutes in Asian hours on Friday. The currency finished the day down 1.4 percent and extended its drop today.

Click on the link below to see the full story from Bloomberg: (by Charlotte Ryan)

Pound Fails to Shake Off Wounded Image After Week of Flash Crash

 

 

Topics: GBPUSD, Forex Market, BREXIT

 

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