66316
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 ...

Thai CB Retains Key Rate
Thailand’s central bank on Wednesday left its key interest...
China and India continue to remain the most promising investment destinations in 2017.
Developing Asia is expected to witness a 15% increase in...
Brazil Raises Deficit Ceiling
Brazil is raising its deficit ceiling for this year and 2018...
Elon Musk, Kevin Plank, Bob Iger, Richard Trumka, Kenneth Carleton Frazier
The honeymoon is definitely over. When US President Donald...
Riksbank is under pressure to tighten its ultra-loose monetary policy.
Underlying inflation topped the Swedish central bank’s target...
Crude oil accounts for 96% of exports and around half of state revenue.
Venezuela might look bad right now amid protests, scarce food...
At 310% GDP, China’s banking sector is above the advanced economy average and nearly three times  the emerging market average.
China's economy is looking good enough that the International...
US Household Debt at $12.8 Trillion
US household debt reached a new record in the second quarter,...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus