August 7, 2024 – Written by John Cameron
Leave a comment STORY LINK Slump in Risk Appetite Hurts Pound to Euro Exchange Rate
A slump in global risk appetite has hurt the Pound in global markets with aggressive covering of short yen positions.
The Pound had benefitted from carry trades with global investors selling the yen to fund long positions in high-yield instruments including the Pound.
This process has now slammed into reverse with GBP/JPY, for example slumping to 7-month lows.
Equities have moved sharply lower with the FTSE 100 index dipping below the 8,000…
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