Visitors Now:
Total Visits:
Total Stories:
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Bookmaker expects pound to hold on, but betting on new lows is hardly a long shot

Tuesday, October 4, 2016 7:49
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Having slumped to its lowest level since the mid-eighties, punters are seemingly betting that things won’t get too much worse for the British pound.

On Tuesday the pound reached down to 1.2671 against the US dollar, a level last seen in 1985.

The pound is favoured to remain above US$1.20, with online bookie Betway giving short odds of 4/9.

Nevertheless, Betway also offers 3/1 for the currency pair to drop below the US$1.20 marker at some point before year’s end so it could hardly be called a long-shot either.

Punters can, meanwhile, get 5-1 for the Brexit to tip Sterling down even further to a range of US$1 to US$1.09, which could see it around its weakest ever market of US$1.05, set in 1981.

“The pound has been wobbling ever since the UK’s historic Brexit vote on June 23rd and now punters are looking to capitalise on its weakness by backing it to slip further,” said Betway’s Alan Alger.

It is 50/1 for the pound to drop below US$1 at any point in the rest of 2016.

Story by ProactiveInvestors

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.