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Why worst may not be over for pound

GBP

For the weakening British pound, the worst may not be over. Derek Halpenny, head of global markets research at Bank of Tokyo-Mitsubishi UFJ, said there’s scope for major drops in the currency as the “Brexit” debate rages on. “I think we’re still in for potential further declines,” Halpenny told CNBC’s ...

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China Pulls $129B Amid Expectations Of Forex Stability And Rising Yuan

chinacurrencyjan2016

The People’s Bank of China withdrew 840 billion yuan ($129 billion) from the country’s financial system in five days through Friday, its biggest weekly withdrawal since February 2013, according to data compiled by Bloomberg. PBOC was mopping up excess liquidity infused in the market by the central bank’s decision to ...

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