1. Hello Guest Click here to check FX Binary Point Financial Directory

Brexit fears hit pound as volatility hits six-year high – business live

Discussion in 'Market News' started by Lily, Mar 23, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
    Likes Received:
    The cost of insuring against sharp falls in the pound is jumping, as Bank of England policymakers meet to discuss the UK’s financial stability

    Sterling volatility at highest since 2010

    8.25am GMT

    City traders may also be reacting to the latest Referendum opinion poll, from ICM.

    It showed that the Leave campaign are leading by 43% to 41%, with 16% still undecided.

    8.22am GMT

    Sterling 3-month implied volatility, which now straddles June 23 EU referendum, jumps to 14.5%. Highest since 2010 pic.twitter.com/o5coZ6qYCp

    8.19am GMT

    The cost of insuring against a sharp fall in the pound is soaring this morning, in another sign of Brexit jitteriness.

    Three-month sterling volatility (which tracks contracts that protect against wild moves in the pound) has hit levels not seen since the last general election.

    Three-month sterling vol now captures EU vote day. https://t.co/h9wzsDA2l6#wheeeee#keepcalmandsellsterling pic.twitter.com/ECSLbGIfqD

    8.10am GMT

    The pound is losing ground this morning, as concerns over Britain’s upcoming EU referendum swirl through the City.

    Serling has extended yesterday’s losses, and is down almost a half a cent since trading began in London, to $1.4168 against the US dollar.

    British Pound continues to drop vs Dollar as #Brussels attacks increase the probability of #Brexit. pic.twitter.com/VZsP4G4d4l

    We are now exactly three months away from the UK’s referendum on EU membership and some ‘Brexit’ protagonists have chosen to use the atrocities in Brussels as a campaigning tool.

    The ‘remain’ campaign is based solely on warnings of how dreadful leaving would be, so the whole debate is thoroughly depressing. Meanwhile, slowing growth is hurting public finances, the Chancellor’s spending cuts are in a mess and so it’s no wonder the pound isn’t flavour of the month.

    7.52am GMT

    Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

    There’s a pre-Easter feeling in the City this morning, as traders start to wind down for the long weekend. The market volatility of January and February is but a memory, as investors hunker down and ponder the state of the global economy.

    What we are seeing at present is about as dull as one will see. As detailed yesterday, it could be the shortened week, but it feels like market players have entered the saloon and tumbleweeds are rolling down the street.

    Our European opening calls:$FTSE 6175 down 18
    $DAX 9977 down 13
    $CAC 4427 down 5$IBEX 8988 down 4$MIB 18681 down 18

    Credit Suisse says cutting an extra 2,000 jobs this year will "improve its resilience" https://t.co/79uQOKLwQV pic.twitter.com/NsCN25wKt9

    Continue reading...

Share This Page