Market roundup - Further slide in Sterling could hurt business confidence – Tip TV

Wires are abuzz today with reports blaming Algos and ‘fat finger’ for the 5-minute crash in GBP/USD from 1.24 to 1.18 levels. The bird is back to flying above 1.24 but the experts are still busy researching the crash.

At Tip TV we decided to shed light on the implications on a further slide in Sterling. The opening segment of today’s London Open show has Tip TV’s Zak Mir and Charlie Gibson, Head of Mining at Edison Research discuss whether further slide in Pound would help boost investment or would have a negative impact on the business confidence and hurt London’s status as global banking hub. Gibson adds further that GBP is a reserve currency and thus warrants more stability rather than volatility.

The panel also sheds light on Non-farm payrolls due for release later today, discuss Oanda sentiment and broker forecasts.