Jun 27 2016

Rate Range Projection by Bank

Next week 99.00 –104.50
Next 3 months 95 - 105.00

The below is a topic from market news

Sterling pares losses after hitting 31-year low on Brexit

Sterling edged off lows against the U.S. dollar on Friday, recovering slightly from a 10 percent plunge to its weakest in 31 years following Britain's vote to leave the European Union, on reassuring statements from central banks.

Sterling GBP=D4 was last down 8.1 percent against the dollar, at $1.3662, after touching its weakest since before the 1985 Plaza Accord of $1.3228. Traders said Bank of England chief Mark Carney's comments that the central bank stood ready to provide extra support helped sterling recover.

Despite the smaller losses, the currency was on track to post a 4.9 percent decline for the week against the dollar, which would mark its biggest weekly loss since January 2009. Sterling had touched $1.5018, its highest since mid-December, in Asian trading ahead of the result after polling firm YouGov said the campaign to keep Britain in the EU appeared to be ahead.

While the dollar gained against sterling because of its relative safety, investors favored the yen over the greenback, the euro, and sterling for its even greater perceived safety.

Sterling was last down 11.4 percent against the yen GBPJPY= at 139.64 yen after falling as low as 133.38 yen, its lowest in roughly three and a half years. The dollar also pared losses against the yen after touching a more than two-and-a-half- year low of 99.11 yen JPY=, but was still down 3.6 percent at 102.27 yen in afternoon U.S. trading.