Pound hit by fears over broader impact of Brexit
London
THE safe-haven yen soared to a 3.5-year high against the struggling British pound on Wednesday on growing fears about the broader impact on financial markets and the global economy of Britain's vote to quit the European Union.
Sterling was down 1.8 per cent against the yen, hitting its lowest level since late 2012, as investors sought safe-haven assets such as highly rated government bonds. The pound also hit a 31-year low against the dollar at US$1.2798 as fears of foreign outflows and Bank of England rate cuts hit the currency hard. It reco…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
US: Nasdaq, S&P tumble as Netflix, chip stocks drag
Europe: L’Oreal gains cap third week of declines
Telegram messaging service to allow Tether stablecoin payments
Hong Kong regulator to probe PwC auditing role over Evergrande
US: S&P, Dow open flat as Middle East jitters ease, Netflix weighs on Nasdaq
DBS puts 46 retail units, HDB shops on market for S$210 million