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Pound hits eight-year high as FTSE 100 jumps 3%

Discussion in 'Market News' started by Lily, Jun 20, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    UK currency bounced back from weeks of heavy selling pressure as traders reacted to apparent shift in support towards EU remain vote

    The pound has posted its biggest one-day rise for almost eight years and the FTSE 100 share index jumped 3% on Monday as traders reacted to an apparent shift in support towards a remain vote in Thursday’s referendum.

    A shift in opinion polls suggesting that the remain camp had regained ground was enough to send the pound soaring. The UK currency, which had come under heavy selling pressure in recent weeks, rallied more than 2.3% against a basket of other big currencies, the biggest percentage gain since October 2008. The pound also rose more than 2% against both the US dollar and the euro.

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