{"id":5760,"date":"2016-10-04T23:57:20","date_gmt":"2016-10-05T04:57:20","guid":{"rendered":"https:\/\/www.irandemocratic.org\/public_html\/news\/?p=5760"},"modified":"2016-10-04T23:57:20","modified_gmt":"2016-10-05T04:57:20","slug":"british-pound-drops-to-31-year-low-on-fears-of-hard-brexit","status":"publish","type":"post","link":"https:\/\/www.irandemocratic.org\/public_html\/news\/5760\/","title":{"rendered":"British pound drops to 31-year low on fears of \u2018hard\u2019 Brexit"},"content":{"rendered":"<p><a href=\"https:\/\/www.irandemocratic.org\/public_html\/news\/wp-content\/uploads\/2016\/10\/2016104185131104490421_Britain\u2019s-pound-slumped-to-a-three-decade-low-on-.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-5761 alignright\" src=\"https:\/\/www.irandemocratic.org\/public_html\/news\/wp-content\/uploads\/2016\/10\/2016104185131104490421_Britain\u2019s-pound-slumped-to-a-three-decade-low-on--300x169.jpg\" alt=\"2016104185131104490421_britains-pound-slumped-to-a-three-decade-low-on\" width=\"375\" height=\"211\" srcset=\"https:\/\/www.irandemocratic.org\/public_html\/news\/wp-content\/uploads\/2016\/10\/2016104185131104490421_Britain\u2019s-pound-slumped-to-a-three-decade-low-on--300x169.jpg 300w, https:\/\/www.irandemocratic.org\/public_html\/news\/wp-content\/uploads\/2016\/10\/2016104185131104490421_Britain\u2019s-pound-slumped-to-a-three-decade-low-on-.jpg 500w\" sizes=\"auto, (max-width: 375px) 100vw, 375px\" \/><\/a>Britain\u2019s pound slumped to a three-decade low on Tuesday as concerns over Brexit were compounded by the renewed strength of the dollar on resurgent U.S. interest rate hike expectations.<\/p>\n<p>Sterling was at its weakest since 1985, hit by a growing sense that the UK may be heading for a \u2018hard\u2019 Brexit where it severs links to the EU\u2019s single market in favour of total control over immigration.<\/p>\n<p>Robust construction data couldn\u2019t prevent another 0.7 percent fall for the pound as it extended Monday\u2019s heavy tumble to wallow at $1.2750 and a three-year low of 87.50 pence per euro.<\/p>\n<p>\u201cIt is now abundantly clear that access to the single market is not on (UK Prime Minister) Theresa May\u2019s list of top priorities and the market is realising that&#8230; there is more pressure for the pound in the weeks and months ahead,\u201d said UniCredit\u2019s Global Head of FX Strategy, Vasileios Gkionakis.<\/p>\n<p>Not everything headed south though. London\u2019s FTSE cheered the idea of a weaker pound boosting firms\u2019 exports as it rose 1.6 percent, past 7,000 points and on course for a new record high.<\/p>\n<p><strong>Source: REUTERS, 04 Oct. 2016<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>Britain\u2019s pound slumped to a three-decade low on Tuesday as concerns over Brexit were compounded by the renewed strength of the dollar on resurgent U.S. <a class=\"mh-excerpt-more\" href=\"https:\/\/www.irandemocratic.org\/public_html\/news\/5760\/\" title=\"British pound drops to 31-year low on fears of \u2018hard\u2019 Brexit\">[&#8230;]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":5761,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,39],"tags":[],"class_list":["post-5760","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-society-economy"],"_links":{"self":[{"href":"https:\/\/www.irandemocratic.org\/public_html\/news\/wp-json\/wp\/v2\/posts\/5760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.irandemocratic.org\/public_html\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.irandemocratic.org\/public_html\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.irandemocratic.org\/public_html\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.irandemocratic.org\/public_html\/news\/wp-json\/wp\/v2\/comments?post=5760"}],"version-history":[{"count":1,"href":"https:\/\/www.irandemocratic.org\/public_html\/news\/wp-json\/wp\/v2\/posts\/5760\/revisions"}],"predecessor-version":[{"id":5762,"href":"https:\/\/www.irandemocratic.org\/public_html\/news\/wp-json\/wp\/v2\/posts\/5760\/revisions\/5762"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.irandemocratic.org\/public_html\/news\/wp-json\/wp\/v2\/media\/5761"}],"wp:attachment":[{"href":"https:\/\/www.irandemocratic.org\/public_html\/news\/wp-json\/wp\/v2\/media?parent=5760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.irandemocratic.org\/public_html\/news\/wp-json\/wp\/v2\/categories?post=5760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.irandemocratic.org\/public_html\/news\/wp-json\/wp\/v2\/tags?post=5760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}