as declared in marketwatch
Pound tumbles to 31-year low on Brexit fears
Pound tumbles to 31-year low on Brexit fears
The British pound tumbled to its lowest level against the dollar since 1985 on Tuesday, as worries about Brexit—the U.K.'s decison to leave the European Union—continued to weigh on the currency.The U.S. dollar rose broadly against most of its rivals, in what one analyst described as a sharp turn to safety amid the uncertainty stemming from the United Kingdom.At the same time, however, other traditional havens, including U.S. Treasurys and gold, lost ground, while U.S. stocks joined a global equity advance.
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in like manner cnn
British pound slumps to new 31-year low on fears about Brexit
British pound slumps to new 31-year low on fears about Brexit
The British pound slumped to its lowest level in 31 years on Tuesday on fears that the U.K.'s divorce from the European Union will be bad for the economy.The currency fell to just above $1.27, lower even than in the immediate aftermath of the EU referendum on June 23, when Brits voted to take their country out of the 28-member group.Brexit plans have begun to emerge in the last few days: talks with the EU will begin in early 2017, the exit will happen two years later, and the U.K. will give priority to controlling immigration.
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in the same way reuters
Pound hits 31-year low on hard Brexit worries while stocks soar
Pound hits 31-year low on hard Brexit worries while stocks soar
An employee is seen walking over a mosaic of pound sterling symbols set in the floor of the front hall of the Bank of England in London, Britain 25, 2008.REUTERS/Luke MacGregor/File PhotoLONDON Sterling slid to its lowest in more than three decades on Tuesday on fears of a "hard Brexit" from the European Union and its single market that could hurt the economy, although the weaker pound sent UK stocks surging.The pound has already lost 1.7 percent against the U.S. dollar since Prime Minister Theresa May said on Sunday the formal process to take Britain out of the EU will start by the end of March 2017.
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