Here’s Why Brexit Concerns Are Back in Focus After a Week of Stabilization

The pound hit a 31-year low against the dollar on Tuesday, as Brexit concerns moved back into the spotlight after last week’s rally across global markets. ‘We’ve also hit multi-year lows against the yen and the euro,’ said Michael Hewson, chief market analyst at CMC Markets, based in London, adding that Bank of England Governor Mark Carney has tried to shore up confidence in the UK banking sector, but economists are pricing in an interest rate cut as soon as next week. Aside from a plunging pound, the 10-year U.S. Treasury yield hit a fresh low on Tuesday. TheStreet’s Scott Gamm reports from Wall Street.

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