Brexit fears send pound to new lows against dollar and euro – Business Live

Discussion in 'Market News' started by Lily, Oct 5, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    Sterling hit a new 31-year low against the US dollar on Wednesday morning, and a five-year low against the euro

    7.51am BST

    Fears over Britain’s looming exit from the European Union are hitting the pound again this morning.

    Sterling has slipped to a fresh 31-year low against the US dollar, falling below $1.27 for the first time since 1985.

    7.37am BST

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

    Two down, one to go. After solid data from Britain’s manufacturing and construction sector this week, it’s time to find out how the services sector performed in September.

    The September Markit/CIPS services PMI for the UK is due this morning. So far both the manufacturing and construction sector PMIs have surprised very clearly to the upside.

    A repeat in the services sector would reinforce the upside risks to our Q3 GDP growth forecast of -0.1% q/q which materialised after last week’s strong news on output in the service sector in July.

    Tesco's profits fall by 28% as it keeps up battle for market share.

    Continue reading...

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