Pound skids to two-week low but gold nears three-month high as political risks stoke safe-haven demand

  • European political risks generate safe-haven demand
  • China FX reserves fall towards $3 trillion in January for first time in almost six years
  • European bourses open higher
  • Pound falls to lowest level since January 20 as dollar rises after Chinese FX reserves data
  • Euro set for biggest daily fall against dollar since December 15
  • UK tax burden set to rise to highest since 1986, says IFS