Daily News: June 27, 2016

Bloomberg: Pound Extends Its Record Loss in Wake of Brexit


Bloomberg reported that Sterling fell 3.5% in London, continuing the downward trajectory brought on by the UK’s decision to cut ties with the European Union.

Bloomberg noted that Sterling reached a three-decade low on Friday, falling 8.1%.

Bloomberg also said that the drop illustrates the failure of Chancellor of the Exchequer George Osborne’s attempts to keep markets calm.