Pound rises for 2nd day; yen, dollar fall as Brexit worries subside

The British pound advanced for a second session Wednesday, as global worries about the impact of last week’s Brexit vote on the financial system eased, pushing assets considered risky higher and dampening appetite for havens.

“It’s a technical bounce more than anything [and] it’s relatively small compared to the fall we’ve had,” said Dean Popplewell vice president of currency analysis and research at Oanda. Sterling plunged to its weakest level since the mid-1980s on Monday and remains near a 31-year low despite a modest bounce.

Wednesday afternoon in New York, the pound GBPUSD, -0.2755%  was changing hands at $1.3436, compared with $1.3343 late Tuesday in New York, retreating from an intraday high of $1.352. And the euro EURUSD, -0.2517%  rose to $1.1106, from $1.1067 late Tuesday. Against the yen, the pound GBPJPY, -0.48% rose to ¥138.18 compared with ¥137.09 late Tuesday.

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