Sterling Slumps as Brexit Concerns Remain
Posted: Tue Feb 23, 2016 5:05 pm
This guest article was written by Ronnie Chopra who is the Managing Director, City Trading Academy
Concerns over whether Britain stays within the European Union (EU) or not have hurt the pound sterling, pushing the GBP/USD below $1.40 for the first time since 2009. The sharp decline in the pound means that the GBP is the worst performing major currency against the USD thus far in 2016.
The breach below the psychologically important $1.40 has largely been avoided since the mid-late 1980s – in this instance, the GBP/USD plunged all the way to a low of the pound fell below $1.05 ... (read more)