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Sterling down to 31 year low on EBC taper talk

GBPUSD News by Newsroom on 08:43 Octuber 05, 2016 EST

The prospect of the European Central Bank winding down its bond-buying stimulus programme is worrying investors on Wednesday, driving stocks lower in Europe and Asia while pushing up government bond yields.

Wall Street stocks futures are flat to slightly lower, having fallen on Tuesday on expectations of a Federal Reserve interest rate rise before the end of the year and concerns over Britain's exit from the European Union.

The pound trades at 1.27 against the dollar its lowest in more than 30 years in what it is a perfect storm for the British currency.