The pound is tumbling

Markets Insider
Markets Insider

The British pound is tumbling again.

The currency is down by 0.6% at 1.2402 against the dollar as of 7:40 a.m. ET.

“Sterling cannot get out of its own way,” wrote Marc Chandler, global head of currency strategy.

As for the rest of the world, here’s the scoreboard as of 7:44 a.m. ET:

  • The US dollar index is little changed at 101.47 after selling off earlier in Asian trade. The index was down against all the majors, save the British pound. On the data front, Dallas Fed will be out at 10:30 a.m. ET.
  • The euro is little changed at 1.0590 against the dollar. Over in France, Francois Fillon claimed victory over Alain Juppe in the Republican party primary on Sunday. Fillon is now set to face off with Marine Le Pen of the far-right Front National in May’s election.
  • The Japanese yen is up by 0.6% at 112.60 per dollar. Earlier, the Bank of Japan posted a net loss of 200.2 billion yen ($1.8 billion) in the six months through September – its first loss in four years.
  • The Russian ruble is little changed at 64.9585 per dollar, while Brent crude oil, the international benchmark, is up by 0.8% at $48.62 per barrel.

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