Sterling and FTSE 100 floored by Brexit worries

Discussion in 'Market News' started by Lily, Jun 10, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
    Likes Received:
    Worries about the 23 June referendum compounded fears of a global economic slowdown, falling oil prices and next week’s Federal Reserve meeting

    Investors are bracing for more choppy trading on financial markets in the final run-up to the EU referendum after Brexit jitters knocked the pound to a seven-week low, dented share prices and fuelled demand for safer assets such as bonds and gold.

    With opinion polls tight and less than two weeks to go before the in-out vote, sterling came under pressure and it was down more than 1% against the US dollar at one point on Friday. In late afternoon trading the pound was worth $1.43.

    Related: FTSE falls sharply amid new Brexit warnings - as it happened

    Related: No single market access for UK after Brexit, Wolfgang Schäuble says

    #gold price appears to be tracking odds of #Brexit. We expect jump to at least $1,400 if UK votes to leave EU.

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