pound surges to 125 on brexit ruling
Last Updated : GMT 05:21:58
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 05:21:58
Arab Today, arab today

Pound surges to $1.25 on Brexit ruling

Arab Today, arab today

Arab Today, arab today Pound surges to $1.25 on Brexit ruling

Britain's Prime Minister Theresa May
London - Arab Today

Britain’s pound leapt to $1.25 on Friday, one day after judges ruled London needed parliamentary approval to trigger Brexit, as the dollar and world stocks were rocked by 
Sterling hit a level last seen on Oct. 7 as Prime Minister Theresa May told European leaders that her March deadline for triggering Brexit negotiations “remains unchanged” — despite growing worries that the ruling could delay Britain’s EU exit.
Meanwhile, official data showed that the US economy added a solid 161,000 jobs in October while the unemployment rate fell to 4.9 percent.
“The High Court ruling has introduced a whole new set of political uncertainties,” said Rabobank analyst Jane Foley.
“However, since most of these are seen as reducing the chances of a bitter divorce from the European Union’s single market, the pound is better supported. “While US labor data has brought a diversion, the dollar is also pre-occupied by politics. A Trump victory on November 8 could send the pound soaring.”
Trading floors around the world have been plunged into turmoil this week as Democrat Hillary Clinton’s lead over Republican Donald Trump has been slashed days before the November 8 election.
Meanwhile Thursday, Bank of England governor Mark Carney warned that the ruling for a parliamentary vote on Article 50 was part of the “uncertainty” arising from Brexit, after the institution held British interest rates at 0.25 percent.
“It is a sign of just how fearful investors are that the pound, the market’s most persistent victim in the past few months, has been allowed to graze $1.25 against the dollar,” Spreadex analyst Connor Campbell added.
“Of course, sterling is still benefiting from the Article 50 ruling and Bank of England inaction from Thursday; however, that only carried it so far ... suggesting that this extra burst of energy is stemming from concerns over which way America will vote next week.”
European stocks swung sharply lower on persistent fears that maverick US tycoon Trump could win next week’s election and beat market favorite Clinton.
Frankfurt shed 0.8 percent, London was down 0.8 percent and Paris shed 1.0 percent in value.
“What started as a few jitters morphed into a full-on panic attack this Friday, the European indices plunging at the prospect of Trump moving into the White House,” noted Campbell, adding European sentiment was also hit by disappointing services data.
A sharp fall in Tokyo also spurred fresh losses in world stock markets on Friday, while precious metal gold maintained its appeal as a safe store of value in times of uncertainty.
Former secretary of state Clinton is considered by most investors to be a safer, more stable bet than Trump, who is seen as a loose cannon, with policies many fear could wreck the world’s top economy. 
The search for safety has also sent traders into gold. which struck $1,302.48 per ounce on Friday.

Source: ,Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

pound surges to 125 on brexit ruling pound surges to 125 on brexit ruling

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

pound surges to 125 on brexit ruling pound surges to 125 on brexit ruling

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation

GMT 22:14 2013 Saturday ,02 November

Sex workers hold Obamacare sign up drive

GMT 19:40 2017 Tuesday ,29 August

Mona used stones to decorate ornaments

GMT 20:12 2017 Sunday ,12 February

Sri Lanka's former rebel leader forms new party

GMT 16:54 2012 Monday ,23 April

Life after television: Whatever happened to ...

GMT 07:19 2017 Sunday ,31 December

Nepal bans solo climbers from Everest

GMT 13:05 2016 Saturday ,05 November

Space balloons inflating passenger flight hopes

GMT 05:24 2017 Tuesday ,10 January

Oil slips on concerns US production is rising

GMT 21:28 2017 Wednesday ,27 September

Cabinet reviews important files at weekly meeting

GMT 04:52 2017 Monday ,03 April

Australian govt defends new corporate tax cut

GMT 03:05 2017 Thursday ,23 November

I'm sure Messi will stay: Barcelona's Rakitic

GMT 04:43 2016 Thursday ,01 September

Kenya eyes 1 bln USD in tourism revenues this year

GMT 19:19 2016 Wednesday ,09 November

OPEC: climate effort won’t quench oil thirst
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday