Wednesday, July 6 2016 15:20 EEST
Echoes of Brexit: pound’s rate breaks anti-records again
Europe, EU, UK, Great Britain, Brexit, pount, fallen, anti-record, low, level, finaces, funds, business, Bank, England, markets, investors

Following the opening of trading on Asian markets on Wednesday, the pound’s rate has fallen to its lowest level since the last thirty years.

The UK pound fell to the level of $ 1.2961 amid fears which have been rising due to the decision of Great Britain to leave the European Union.

At the same time, the yield of American, Australian and Japanese governmental 10-year bonds fell to an extremely low level, as investors started to buy them. They believe that the securities are 'safe' on the background of instability in Europe.

This high demand pushes prices for bonds up, while their yield falls down.

Earlier, British investment funds stated that their clients were taking all the money on the background of uncertainty in the economy of the country.

The Bank of England warned that all the negative risks linked to Brexit, had started to appear. The investors’ confidence was shaken due to this fact.

As reported earlier by, What the UK’s referendum means for the UK's policy towards Ukraine?

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