Special report: What’s Behind This Latest Pound Decline?
The Pound has wasted no time resuming it's collapse this week, with the UK currency trading to its lowest levels against the US Dollar since June 1985. But what has been behind this latest sharp drop to 1.2798 early Wednesday, after the market had already seemingly stabilized in the previous week?
Next 24 hours: Tale of Two Halves
It was a tale of two halves in Wednesday trade. Risk markets were initially well offered led by fresh declines in the Pound, before a wave of profit taking kicked in. All of the worry from Tuesday seemed to fade into the background, with market participants perhaps distracted by US data releases and the Fed Minutes.