‘The pound is IRRELEVANT’ German financial giant Deutsche Bank in shocking Sterling swipe

Deutsche Bank

Deutsche Bank branded the pound ‘irrelevant’ [GETTY•ALAMY]

 

Britain’s currency is permanently tarred after the UK voted to leave the European Union (EU), according to one of the bank’s foreign exchange strategists.

As a result, the pound is set to lose its prized status as a leading international safe haven currency, said Robin Winklertold. Continue reading

Chinese Yuan Could Give the IMF “a Shock It Isn’t Prepared For”

 

 

On Monday, the Chinese yuan joined one of the most elite clubs on the planet: the International Monetary Fund’s Special Drawing Rights basket of reserve currencies.

CURRENCY OLD WEIGHT NEW WEIGHT
U.S. Dollar 41.90% 41.73%
Euro 37.40% 30.93%
Chinese Yuan 10.92%
Japanese Yen 9.40% 8.33%
Pound Sterling 11.30% 8.09%

*Source: IMF Continue reading