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EUR/USD2016-06-28 06:53 UTC

EUR-USD has continued to coat-tail Cable, though by a lesser magnitude of movement, with the euro having climbed to 27-month highs versus the pound at the same time. Focus is squarely on the EU policymakers' response to Brexit amid recognition that there are lessons to be learnt and efforts needed to keep the single currency project on track. The UK's severance form the EU will be costly for both the UK economy and that of continental ... Read More 

XE Market Analysis

  • North American Edition2016-06-27 11:27 UTC

    The pound hit a fresh 31-year low of 1.3209 against the dollar as UK bank and non-multinational stocks took a pummelling. There is also what seems now to be a consensus view that the BoE will cut interest rates by a quarter point by August, if not at the MPC meeting in July. This would take the repo rate to 0.25%, which would be a new record low. The dollar and yen remained the preferred currency safe havens, against which sterling, the euro, commodity ... Read More 

  • European Edition2016-06-28 06:53 UTC

    Sterling has managed to find a toehold after an unprecedented magnitude of losses over the last two days. Cable recouped to a peak of 1.3336, since settled back under 1.3300. Yesterday's 31-low is at 1.3119. The pound has also managed to lift from 27 lows in the case against the euro. There has not been a catalyst for the rebound, which looks more a question of market exhaustion. S&P and Fitich have chopped their ratings of UK sovereign debt, which ... Read More 

  • Asian Edition2016-06-27 17:49 UTC

    The dollar was mixed in N.Y. trade on Monday, with cable dropping to fresh 31-year lows of 1.3220 following Cameron's speech to parliament. The PM spoke eloquently, but by and large, he only highlighted how perilous the mechanics of Brexit will be. Sterling later recovered marginally to 1.3235. EUR-USD traded a narrow range, basing at 1.0973 before bouncing to 1.1044 highs. USD-JPY held near 101.50 through much of the session, later moving to 10194 highs ... Read More 

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