Tumbling Pound Rattles Global Markets; Chinese Stock Slide Forces Government Intervention

Monday, January 16, 2017
By Paul Martin

by Tyler Durden
ZeroHedge.com
Jan 16, 2017

While US markets take the day off for MLK holiday, the rest of the trading world has been busy, perhaps nowhere more so than the sterling which continued its volatile session in advance of May’s pre-hard Brexit speech, falling below $1.20 for the first time since October after the Sunday Times said May is ready to withdraw from tariff-free trade with the region in return for the ability to curb immigration and strike commercial deals with other countries. As a result, overnight pound-dollar volatility surged the most since the summer, and breached just twice previously: ahead of the Brexit vote, and before the Bank of England’s July and August meetings.

The Rest…HERE

Comments are closed.

Join the revolution in 2018. Revolution Radio is 100% volunteer ran. Any contributions are greatly appreciated. God bless!

Follow us on Twitter