+357 25 105 641
  • Facebook
  • YouTube
Pound down on Brussels terror attack
Published on 22.03.2016 22:38

The Pound slumped against major currencies after a terror two terrorist attacks in Brussels left around 30 people dead just 4 months after the deadly attacks in Paris.

At 7.27pm (GMT) the British pound was trading at US$1.42.07c down 1.13 percent from yesterday’s trading.

The attacks in Brussels, which were set off during peak hour caused mayhem in the city and added fuel to the case for the UK to leave the Eurozone in order to protect its borders more thoroughly.

The blasts was the latest saga in a string of bombings after around 130 people were killed in terrorist attacks in Paris just four months ago.

One of the biggest cases for leaving the Eurozone was is the flood of migrants landing on European shores which some Brits fear will cause instability within the UK should the arrivals persist.

Marc Chandler, global head of currency strategy at Brown Brothers Harriman noted that this was a major setback for the Pro European camp as safety is one of the major factors for Brits in deciding whether to leave or remain in the Eurozone,

"The attack in Brussels, on the back of terrorist attacks in Turkey over the weekend ... is bad news for the U.K., because it plays into the hands of those who want to leave, thinking that somehow if they leave they're safe," he said.

The material published in on this page is produced by the FIBO group companies, and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Andrew Masters

Analyst

The power of leverage is the power of Forex.
×

Risk warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, your level of experience and preparation of taking risk. The possibility exists that you could sustain a loss of some or of all of your initial investments and therefore you should not risk more than you are prepared to lose. Please seek independent financial advice if necessary.

Important notice
By clicking "Continue" you will be redirected to the website operated by FIBO Group, LTD company registered in BVI and regulated by FSC. Click "Cancel" to remain on this page.