XE Market Analysis: North America – Jan 16, 2017

The pound dove in response to weekend reports that the UK PM May will announce tomorrow that the government will be pursuing a so-called hard Brexit, leaving free access to the single market so as to take full control of the border. Cable hit a three-month low of 1.1987 in the early London AM, and was settled around 1.2060 as of the early PM session in Europe, which still left the pound nursing a 1.1% decline on the day. The pound also hit a two-month low versus the euro. Elsewhere, EUR-USD shed over 1% in making a low of 1.0580,…

Source: XE news feed
XE Market Analysis: North America – Jan 16, 2017