The pound started the week down versus the euro and the U.S. dollar as sentiment towards other wealthy nations in the world remain more positive than the U.K.’s economic perspectives, forcing investors to abandon pound priced assets to inject capital in more attractive currencies backed by fast recovering nations.
After a Moody’s report featuring world’s wealthiest nations in which the U.K. was rated as ”resilient” against better rating of its European neighbors, France and Germany, considered “resistant”, the pound tumbled further versus the euro, and also went down versus the greenback as the interest rate outlook in the U.S. changed, with speculations suggesting hikes for the
The outlook for the pound remains negative as investors opt for
GBP/USD traded at 1.6335 as of 10:15 GMT from a previous rate of 1.6470 in the intraday. EUR/GBP traded at 0.9092 from a previous rate of 0.9042.
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