How Low Can the British Pound Go? It's the Focus for Traders in Europe
A flash crash involving the British pound rattled markets and keeps the currency in focus in the week ahead.
The British pound's sudden plunge on Friday rattled markets, and will remain a big focus in the week ahead in Europe, according to Antonia Oprita, senior editor and columnist with Real Money. "We're beginning to see comments regarding an increase in inflation that could be caused by this continued weakness of the pound," said Oprita. The pound is currently trading at a 31 year low. Also in Europe next week, the British Office for National Statistics will release a report on how industries are faring in the UK, which Oprita says has become increasingly important after the Brexit vote.
