GBP Earns Distinction as Worst Performing Currency of 2016
Posted: Thu Jul 07, 2016 1:24 pm
The British pound has been taken to the woodshed in a matter of speaking, undergoing a rather staunch decline during 2016 as the run up to the Brexit referendum ultimately coalesced into an outright capitulation of the currency. To date, the GBP has overtaken the Argentine Peso as the worst performing currency of 2016 at roughly the midpoint of the calendar year.
Brexit-induced worries were the largest culprit for the beleaguered currency, which manifested itself into an all-out maelstrom of events that left analysts scrambling to find a floor for pairs such as the GBP/USD. Even before the eventual Brexit votes ... (read more)