Investors flock to safety of US dollar as pound sentiment is hit by worries following EU comments

7 months ago


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Last week saw the pound fluctuate wildly following the Bank of England’s (BoE) latest policy meeting and comments from the EU’s chief Brexit negotiator, Michel Barnier
 


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Weekly Market Analysis


February 12th 2018

 

Investors flock to safety of US dollar as pound sentiment is hit by worries following EU comments



Last week saw the pound fluctuate wildly following the Bank of England’s (BoE) latest policy meeting and comments from the EU’s chief Brexit negotiator, Michel Barnier.


The pound is holding steady at the start of this week, with GBP/EUR stable at €1.1279 and GBP/USD trading narrowly at US$1.3838.


Sterling may tumble again this week should Brexit continue to cause a headache for markets or if markets react poorly to the UK’s latest inflation figures.


 
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Today's Rate


Euro (EUR)
1.12621
US dollar (USD)
1.38004
Australian dollar (AUD)
1.76351
S. African rand (ZAR)
16.5047
Japanese yen (JPY)
149.78
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The rates above are using the British pound (GBP) as the base rate. All rates are for indication purposes only.
Prices can vary dramatically based on amount and delivery date.


 
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"Sterling suffered some early losses on Monday as concerns over Brexit and the unity of the UK government prompted investors to shy away from the currency."



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