Pound plumbs month’s low as stock rout hits risk currencies | Malay Mail

LONDON, Aug 19 — Sterling hit its lowest in a month against the dollar today as a pull-back in global stock markets saw a bid for safe havens such as the greenback, which weighed on risk and growth correlated currencies.

The minutes pushed Wall Street’s main stock index down more than 1 per cent and drove several currencies to multi-week lows against the safe-haven greenback. European markets stumbled at open and US stock futures were pointing to a weaker start. “Outside of the broader macro risk regime, I still like GBP as a currency because the Bank of England is more in line with the Fed’s hawkish policy,” Patel said, adding that the pound was still susceptible to gyrations in this particular environment.

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