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Stock impact report

Sterling touches two-year low as investors hedge rise in Brexit risk Jul 17 2019 [Reuters]

The Bank of New York Mellon Corporation (BK) 
Last the bank of new york mellon corporation earnings: 4/16 06:30 am Check Earnings Report
Company Research Source: Reuters
Sterling touches two-year low as investors hedge rise in Brexit risk - Reuters 4 Min Read LONDON (Reuters) - Sterling fell below $1.24 on Wednesday, levels not plumbed for more than two years, as investors continued to price the growing risk of Britain’s crashing out of the European Union without a transition agreement in place. With economic data also showing the UK economy struggling, putting more pressure on the Bank of England to ease monetary policy, investors are taking to currency derivatives and futures markets to bet on more weakness. After falling to as low as $1.2382, the pound later rebounded slightly on Wednesday to trade at $1.2426 GBP=D3 , up 0.2% on the day, but the currency remains under pressure. “Clearly the issues facing the UK currently have not been faced in the last decade or so, even during the global financial crisis, and the potential for the pound to hit the 2016 lows is there,” said Neil Mellor, a senior currency strategist at BNY Mellon in London. In Octob Show less Read more
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