Pound Touches 7-Week Low Amid UK Election Turmoil

The pound has fallen sharply after the general election result showed the ruling Conservative party has failed to reach a majority in the British Parliament. The currency dropped as much as 2 percent against the US dollar to 1.26744 and a similar amount against the euro to 1.13. Brexit talks The election result left investors…

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Pound Touches Six-Week Low Amid Tight UK Election Risk

The British pound has come under pressure after the release of a poll which suggested that Theresa May’s Conservative Party may fall short of majority in next week’s election. The U.K. pound declined 0.5 percent to $1.28, after earlier touching $1.2788. This is still above Friday’s low of $1.2776. Hung parliament YouGov, the polling group…

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Gold Touches One-Month High After Health-Care Bill Failure

Gold prices hit a four-week high in early U.S. trading Monday, after U.S. President Donald Trump’s failure to push through a healthcare reform package on Friday. Gold had already risen sharply from its March 15 low after a policy statement from the Federal Reserve, which decreased expectations for near-term increases in U.S. interest rates. Spot…

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Pound Touches Lowest Level Since January

Britain’s pound has taken a sharp drop in early Tuesday trading, touching an eight-week low against the dollar, after U.K. lawmakers set the stage for Brexit talks to begin. Today the pound stood at $1.2110 against the U.S. dollar and below €1.14 against the euro. It wiped out all yesterday’s gains, made on the dollar’s…

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Pound Takes A Nosedive Amid Brexit Fears

The pound fell against the U.S. dollar on Monday, after it was claimed that British Prime Minister Theresa May will signal plans to quit the EU single market. The UK currency fell as much as 1.6 percent to a low of $1.1986, a level last seen during October’s flash crash, when it briefly hit $1.18….

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