020 7898 0500Sterling markets were rocked by a fresh wave of selling which saw the currency fall below the record lows seen on Friday against both the euro and US dollar. Political uncertainty continues to engulf both of the UK’s major parties, and with investors seemingly unconvinced by the Chancellor’s calm words, sterling fell to the lowest level seen against the US dollar since the 1980s. Elsewhere, trading in Barclays and RBS shares was suspended early on Monday as concern grew over the UK’s economic outlook and the prospect of a further interest rate cut beneath the record-low 0.25%.
No significant economic data is set to be released from the UK today, but sterling markets are guaranteed to see further uncertainty in the days ahead.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
