For Pound, Worst Quarter Since Lehman Was a One-Day Event: ChartBy
Sterling is about to complete its worst quarter in 7 1/2 years, driven down by the U.K.’s vote to leave the European Union. The Bloomberg British Pound Index, which tracks the currency against seven major peers, has fallen 7.4 percent since March 31, the most since an 18 percent plunge in the final quarter of 2008 following the collapse of Lehman Brothers Holding Inc. in September of that year. The difference: that decline happened in the depths of the global financial crisis, while this quarter the index was headed for a gain until last week’s Brexit shock sent it down 8 percent in one day.
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