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Pound to Dollar Rate Collapses Below 1.20, More Losses Ahead says Nomura's Rochester
Pound Sterling started July deep in the red against the Dollar and Euro, and further losses are likely says a leading analyst. The Pound to Dollar exchange rate fell by over a percent on July 01 to go below 1.20 and quotes at 1.1977 at the time of writing, the June 14 low is at 1.1934. Declines come alongside a major decline in UK government bond yields, a sign that the market is paring back its expectations for future Bank of England interest rate rises. The UK ten year government bond yield fell 5.0% on July 01 and was back to levels seen on May 31. Falling bond yields signal increasing investor expectations for a ... (full story)
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