Brexit Shocks Push the Pound to Fresh 31-Year Low
- U.K. economic negativity ‘starting to crystallize’: SEB
- Yen gains versus major peers as sterling drops below $1.28
Brexit Continues to Roil Currencies
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The pound sank to a 31-year low as the fallout from Britain’s vote to leave the European Union continued to reverberate through financial markets.
The U.K. currency fell beyond $1.28 -- four cents below its weakest point the day after the nation’s June 23 referendum. The yen climbed against most of its major counterparts as investors sought havens from the turmoil that’s also weighing on global stocks.