Reuters logo
Sterling fall a 'foretaste' of leaving EU - Foreign Secretary
February 25, 2016 / 1:01 PM / 2 years ago

Sterling fall a 'foretaste' of leaving EU - Foreign Secretary

LONDON (Reuters) - Weakness in the sterling currency is a “foretaste” of what the impact would be if Britain voted to leave the European Union at an upcoming membership referendum, Foreign Secretary Philip Hammond said on Thursday.

Britain's Foreign Secretary Philip Hammond arrives for a Cabinet meeting in Downing Street in London, Britain February 20, 2016. REUTERS/Toby Melville

Sterling hovered near seven-year lows against the dollar on Thursday and was on course for its worst weekly performance since 2009 as investors fret about a possible British exit from the bloc at a June 23 vote.

“A vote to leave is a vote for an uncertain future, that’s a simple fact, and that uncertainty would generate immediate and negative reactions in financial markets ... We’ve already had a foretaste of that this week in the currency markets,” he told parliament.

Reporting by Elizabeth Piper, Editing by Kylie MacLellan

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below