Sterling and FTSE 100 floored by Brexit worries

Concerns over 23 June referendum compounded fears of a global economic slowdown, falling oil prices and next week’s Federal Reserve meeting

Investors are bracing for more choppy trading on financial markets in the final run-up to the EU referendum after Brexit jitters knocked the pound to a seven-week low, dented share prices and fuelled demand for safer assets such as bonds and gold.

With opinion polls tight and less than two weeks to go before the vote, sterling came under pressure and it was down more than 1% against the US dollar at one point on Friday. In late afternoon trading the pound was worth $1.43.

Related: FTSE falls sharply amid new Brexit warnings – as it happened

Related: No single market access for UK after Brexit, Wolfgang Schäuble says

#gold price appears to be tracking odds of #Brexit. We expect jump to at least $1,400 if UK votes to leave EU. pic.twitter.com/oDfYh59ZQp

Continue reading…

Leave a Reply

Read the original at Economics | The Guardian.