Daily News | British pound plummets

Plenty of new and exciting opportunities are on the horizon today, as the market keeps developing due to numerous economic influences. Join us as we take a closer look at the data and what it could mean for your standing on the market. We will start today with a look at the British pound sterling. The currency fell from $1.2841 to $1.2750 from Monday to Tuesday, which is the biggest low for the GBP in over 31 years. This might have come about due to the sense that the UK might be heading towards a “hard” Brexit, where the government would exit the EU’s single market, so as to curtail immigration. Not even robust construction data could stop the pound from slipping by 0.7%. We will continue to monitor this fall in the days to come. On the other hand, the US dollar rose in the same timeframe, from €0.8918 to €0.8960. This came despite reports indicating that US stocks will see a slow fourth quarter, due to uncertainty surrounding the presidential elections and disappointing corporate earnings. The vote should cause more volatility, especially in sectors such as health insurance, pharmaceuticals and lastly, energy, so watch out for that. For more, be sure to follow us daily!

Daily News | What to expect from the market?

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