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Pound Heads for First Post-Brexit Gain as Record Selloff Abates

Posted by Chris Advincula on Jun 28, 2016 7:03:06 AM

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(Jun 28 Bloomberg) The pound rose for the first time since the U.K.'s vote to leave the European Union, as a recovery in investor appetite for higher-yielding assets seeped through currency markets and sapped demand for the dollar and the yen as havens.

Sterling rose against most of its Group-of-10 counterparts before EU leaders gather in Brussels for the start of a two-day European Council summit to discuss Britain's decision to leave the bloc. The Bloomberg Dollar Spot Index, which tracks the dollar against a basket of 10 leading global currencies, fell for the first time since the global market rout started Friday as the referendum result came out. The yen weakened after Japanese officials reiterated that they will continue to watch markets.

Click on the link below to see the full story from Bloomberg: (by Narayanan Somasundaram and Marianna Duarte De Aragao)

Pound Head for First Post-Brexit Gain as Record Selloff Abates

 

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Topics: $USDJPY, GBPUSD, Forex, UK, Fundamentals, BREXIT

 

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