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Warnings Against Brexit Continue as UK Pound Trades Mostly Lower

November 6, 2015 at 14:29 by Miranda Marquit

Mix of pound billsUK pound is mostly lower today, thanks to yesterday’s rate news from the Bank of England. Also, concern that the UK might leave the European Union is affecting the sterling a little bit.

UK pound is mostly lower against its major counterparts today, struggling after yesterday’s Bank of England information. Once again, most of the policymakers at the BOE aren’t ready to raise interest rates. Even though there have been some improvements in economic data, only Ian McCafferty is ready for the MPC to raise rates.

Another concern is the fact that the referendum on whether or not the United Kingdom should remain part of the European Union is too close to call. A referendum is needed by the end of 2017, and some are worried that a Brexit could be very real.

There have been warnings from major financial institutions about the dire consequences of such a move. Even so, some Britons are not happy with the thought of remaining in the European union, even though they keep their own currency.

At 14:24 GMT GBP/USD is down to 1.5056, dropping from the open at 1.5210. EUR/GBP is lower, falling to 0.7129 from the open at 0.7151. GBP/JPY is also down, dropping to 184.9480 from the open at 185.1830.

If you have any questions, comments, or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

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