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Xtreamforex Company News
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[QUOTE="xtreamforex26, post: 213318, member: 59158"] [B]GBP down during Asian Trade[/B] The pound was aggressively lower during Asian trade. CME stopped trading of GBP futures. GBP/USD touched a record low. Combination of the UK’s mini budget and flight to the dollar weigh on sterling. The GBP was already facing heavy selling pressure on Friday when the UK’s new chancellor unveiled his new mini budget. The plan has been perceived as a tax cut for the rich alongside higher levels of debt, with one former treasury minister calling budget a “high risk gamble. The week closed with GBP/USD falling to just shy of its all time low set in 1985. And that level did not last very long. In today’s session there is an aggressive selloff for the British pound, which has sent GBP.USD to a fresh record low. Currently down around -2.4%, its within its fifth consecutive down day, which includes a -3.6% decline on Friday. Such levels of volatility have not been seen since March 2020, and not restricted to GBP/USD. [B]Read More : [/B][URL='https://www.xtreamforex.com/gbp-down-during-asian-trade/'][B]Daily & Weekly Analysis On Xtreamforex[/B][/URL] [/QUOTE]
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