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Sterling retreats to three-week low

Economies.com
2016-06-06 15:34 UTC

Sterling fell to a three-week trough on worries over a possible exit for Britain from the European Union and the potential damage from such an event. 

 

GBP/USD last traded at 1.4472, compared to the opening of 1.4460, with a session-high at 1.4481, and a three-week trough at 1.4351. 

 

Sterling's losses today come some days before the British referendum on the European Union, with polls painting a tight race, raising worries in the markets. 

 

On the other hand, the dollar fell against a basket of rivals to a three-week low following the dismal payrolls report, which helped stem the pound's losses, as investors await Fed Chair Janet Yellen's speech later. 

 

The dollar index, which gauges the U.S. currency's performance versus a basket of major peers, last traded at 94.05, compared to the opening of 94.11, with a session-low at 94.01, and a high at 94.26, after the index hit a three-week trough last Friday at 93.86 following the dismal payrolls report. 

 

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European shares rise in morning trading, led by energy and commodities firms

Economies.com
2016-06-06 11:31 UTC

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Economies.com
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Economies.com
2016-06-06 12:42 UTC

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