Pound Extends Losses On Brexit Worries

By Markets MarketWatch Pulse

The British pound fell Monday, stuck trading around eight-week lows, as the U.K.'s referendum on whether the country should stay in the European Union approaches. Sterling was buying $1.4123, down from $1.4267 late Friday in New York. The currency has been under pressure as recent polls have shown voters leaning toward backing a U.K.-EU breakup on June 23. This week "will likely be a busy one for [the pound], with releases including inflation and retail sales figures from both the U.S. and the U.K. as well as meetings of both the Fed and the Bank of England," wrote Alexandra Russell-Oliver, FX analyst at CaxtonFX, in a note.

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