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Risk Appetite Collapses: Pound To Euro Rate Slides To 12-Week Lows
The Pound Sterling has come under intense pressure on Monday amid a collapse in global risk appetite. The rout in equities has continued with the FTSE 100 index sliding close to 3% before a slight rebound while the US S&P 500 index traded 4% lower ahead of the New York open. The Pound to Euro (GBP/EUR) exchange rate slumped to 12-week lows just above the 1.1600 level before stabilising. The Pound to Dollar (GBP/USD) exchange rate failed to hold the 1.2800 level and dipped to near 4-week lows at 1.2710 before rebounding to 1.2775. Volatility will inevitably remain elevated in the short term with the Pound and ... (full story)
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- Posted: Aug 5, 2024 4:24pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,152
