Great Britain Pound Touches Fresh Multi-Year Lows

The Great Britain pound sank to new multi-year lows today as Britain’s decision to leave the European Union made investors shun the currency.
While it looked like fears of the Brexit were subsiding, now it is evident that they are still present and drive markets. Yesterday, the Bank of England spoke about possible negative impact of the exit from the EU on the UK economy. Speculators price in an interest rate cut from the BoE in August.
GBP/USD was down from 1.3021 to 1.2951 as of 13:22 GMT today, touching the low of 1.2810 during the trading session — the lowest rate since June 1985. EUR/GBP went up from 0.8504 to 0.8545 while its session maximum of 0.8617 was the highest since August 2013.

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