Cable Hits Fresh 31 Year Lows, EUR/GBP Highest Since October 2013

[kreslik.news]

The British pound is continuing to mark losses across the board with the GBP/USD pair hitting a new post-Brexit low of 1.3114, while the EUR/GBP pair is currently trading around 0.8480. The move lower in the British currency is likely to continue in the coming weeks in the run-up to the Bank of England’s monetary policy meeting at which the Monetary Policy Committee’s Governor of the Bank of England Mark Carney is expected to deliver a rate cut and possibly an expansion in quantitative easing.

While the Bank of England’s officials have stated repeatedly that they don’t have a cure-all medicine in ... (read more)