Pound and shares hit by Brexit and growth fears – business live

Discussion in 'Market News' started by Lily, Jun 13, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
    Likes Received:
    Sterling has hit an eight-week low against the US dollar, as EU referendum worries hit the markets

    7.37am BST

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

    Has #Brexiety reached fever pitch yet?

    If the global economy does not slide towards recession, the Fed will eventually raise rates (timidly). That’s the best-case scenario, one in which oil-sensitive currencies can gain, but China-sensitive ones will struggle.

    The risk is that growth slows more sharply in China, causing capital to take fright. Pity the currencies of nations with big current account deficits then [such as the UK]. There are other dangers lurking too, like the UK referendum, the US presidential election and rising anti-European sentiment into the 2017 elections.

    Continue reading...

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