Pound at 30 years low against USD at 1985's levels
DSIJ Intelligence / 24 Jun 2016
Great Britain Pound (GBP) has plunged against USD to levels witnessed by the currency pair in 1985, on Friday as result of the referendum on whether to stay in the European Union (EU) showed the U.K was on course to leave, according to latest media projections including that of B.B.C. GBP USD pair is trading at $1.3224 levels and is expected to trade at $1.3000 in coming sessions.
Great Britain Pound (GBP) has plunged against USD to levels witnessed by the currency pair in 1985, on Friday as result of the referendum on whether to stay in the European Union (EU) showed the U.K was on course to leave, according to latest media projections including that of B.B.C. GBP USD pair is trading at $1.3224 levels and is expected to trade at $1.3000 in coming sessions.
Interestingly the currency pair traded at $1.5018, a new high only few hours before the polling results started coming in. Experts believe currency markets may have seen this kind of volatility in 1986. At current levels the pound is sharply down by 10 per cent from Thursday's close.
JPY has appreciated and USD has fallen as low as 99.08 yen which is the lowest level since 2013. The pair traded at 106.81 levels when the 'remain' camp appeared to be headed for a win.
In the Asia Session the pound was trading at 160 yen levels before the BREXIT poll results started coming in. Pound tumbled sharply and could fetch only 133.18 Yen post BREXIT confirmation.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.