Great Britain pound gradually slumps

Great Britain pound gradually slumps By year-end British pound may down to 1,14 USD/GBP
October 7, 2016 11:05
Great Britain pound gradually slumps

Baku. 7 October. REPORT.AZ/ British pound sterling gradually decreased against the US-dollar. Today's trading on Asian markets updated 31-year low recorded last week.

Report informs, after rate of dollar/pound pair sharply fell this morning by 11 points, or 8.8% from 1.2481 to 1.1387, it re-marked again at level of 1,2465 USD/GBP. Stock traders explained the sharp depreciation of the low rate with liquidity of currency market.

Analytical Group of Report believes that the main reason for the shock fall of the rate is a negative assessment of possible Brexit risks by investors. So, Britain announced its intention to completely abandon a single European market to maintain its economy. It is predicted that by year-end exchange rate of the British pound will again reach 1,14 USD/GBP.

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