Pound attempts to stabilize after recent softness, FTSE100 tanks to three-week low

British Pound is trying to stabilize after recent softness. Pound fell around half a percent in last session amid weakness in the UK equities amid a general sense of risk aversion in US and European stocks. Markets eyed the situation in the Middle East and bond yields climbed on expectations that a jump in oil ‌prices driven by the Middle East conflict will stoke inflation. The UK's blue-chip FTSE 100 index fell 1.5% to close at its lowest level in three-weeks. However, the GBP/USD pair moved up today and currently trades at 1.3357, up 0.29% on the day. The pair had dipped near three-month low earlier this week. On NSE, GBP/INR futures are trading marginally up at 122.65 after failing to sustain above 122.70 mark.

Powered by Capital Market - Live News