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Nov 19 - The pound dropped to multi-week lows versus the yen and the Swiss Franc as investors rushed into safe-haven assets, after a warning from Russia over its updated nuclear doctrine.President Vladimir Putin issued a warning to the United States on Tuesday, lowering the threshold for a nuclear strike just days after the administration of Joe Biden reportedly allowed Ukraine to fire American missiles deep into Russia.
The pound dropped 0.9% versus yen to 193.49, its lowest level since Oct. 8; it fell 0.4% against the Swiss Franc to 1.1140, its lowest since Nov. 1.Barring geopolitical turmoil, several analysts expect the pound to strengthen against the euro as the UK is unlikely to be the focal point for the incoming U.S. administration.
"Inflation data will be crucial for the next moves of the pound," said Francesco Pesole, forex strategist at ING.
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