Trade-weighted Sterling index hits 15-month low of 86.0 - BOE data

Sterling dropped to a fifteen-month low against a basket of currencies on Monday on the back of intensifying Brexit concerns, despite the UK PM David Cameron clinching a deal on a new agreement between the UK and the European Union (EU) last Friday.

However, Brexit fears escalated after London Mayor Boris Johnson joined the 'Vote Leave' campaign on Sunday.

The pound's trade-weighted index dipped to 86, its lowest since Dec 2014, Bank of England (BOE) data revealed.

Feb 22, 2016

European stocks rally, FTSE up 1% despite Brexit fears

The stock markets in Europe rallied along with oil and commodity prices, with UK’s FTSE rising more than 1% despite concerns Britain may vote to leave the European Union.

Eurozone economy slowed down by global weakness and looming Brexit – ING

Bert Colijn, Research Analyst at ING, notes that the Eurozone composite PMI has decreased to 52.7 in February from 53.6 in January, confirming concerns that global weakness is starting to weigh on the Eurozone economy.