Contact Your Financial
Adviser MONEY MAKING MC
07 July 2016
London: The
pound sterling on Thursday continued to hover around 31-year lows in Asian
trading as more UK property funds suspended withdrawals in the wake of Britain
voting to exit the European Union (EU).
The Total Investment & Insurance Solutions
However,
the Japanese yen was rising for a third day against the dollar as investors
bought into the currency, seen as a safe haven for their money, BBC reported.
It
has strengthened by nearly 5 per cent since the UK voted to exit the EU on June
24.
The
renewed jitters over the fallout from the Brexit vote have also extended a
rally in gold prices. The Total
Investment & Insurance Solutions
The
precious metal is trading near its highest price in more than two years.
On
Wednesday, UK and European stock markets fell sharply and the pound hit a fresh
31-year low as Brexit fears rattled markets. The Total Investment & Insurance Solutions
Another
three UK property funds said they were suspending trade after a surge in
withdrawals following the UK's vote to leave the EU. The Total Investment & Insurance Solutions
In
Thursday's Asian trade the pound remained lower against the dollar, trading at
around $1.2918. The Total Investment
& Insurance Solutions
Asian
stock markets are trading mixed after the latest Federal Reserve minutes
showing that prospects of an interest rate hike have diminished.
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