Pound Slumps  to 7-Month Low
Pound Slumps  to 7-Month Low

Pound Slumps to 7-Month Low

Pound Slumps to 7-Month Low

The pound has hit a new seven-month low against the euro, and is falling further against the dollar too. It fell by as much as 0.86% to €1.1279 against the euro, surpassing Friday’s seven-month nadir of €1.1287, news outlets reported. Against the dollar, it has extended its losses and is now down 0.6% at $1.2666. That’s its lowest level since last November. Hung parliament casts doubts over UK’s credit rating, warns Moody’s rating agency. The ratings agency said the lack of a decisive majority party could put the brakes on negotiations on Britain leaving the European Union, which would have a negative impact on the UK’s credit rating. A lower credit rating can make it more expensive to raise money, as the borrower is considered less able to manage repayments. As a result, lenders charge a higher interest rate to cover the risk of the borrower defaulting. Moody’s also said that Britain’s drive to reduce its budget deficit could be slowed down as a consequence of the election outcome, warranting further worries about the country’s rating.


Short URL : https://goo.gl/kG4x1M
  1. https://goo.gl/iO5XCp
  • https://goo.gl/6ctTwW
  • https://goo.gl/erSlaF
  • https://goo.gl/T2Il16
  • https://goo.gl/OlGEDr

You can also read ...

Innovation, Technology Should Boost Hong Kong Economy
Innovation and technology will become profitable in Hong Kong...
Annual expansion in the second quarter fell to 4.5%.
Malaysia cut its full-year growth forecast and reported much...
Government data shows the number of jobs created in July fell to the lowest levels in over eight years.
South Korea’s ranking officials revealed a disparity in their...
Canada Inflation Surges
Canada’s inflation rate surged to 3% in July, fueled by rising...
As technological progress makes people richer in terms of many basic goods and services, it may be inevitable  that more human activity is devoted to zero-sum competition for available income and assets.
Across the global economy, the potential for automation seems...
Trade War Won’t Dent China GDP
Analysts are trying urgently to evaluate the potential impact...
Italy to Launch New Infrastructure Plan
The government will launch a plan aimed at making Italy’s...
Amazon to Challenge TiVo With Live TV Recorder
Amazon.com Inc. is developing a new device that records live...

Add new comment

Read our comment policy before posting your viewpoints