XE Market Analysis: Pound Slammed After PM Brexit Comments

OVERVIEW German industrial production rose 0.4% versus expectations for a larger 0.7% increase. The trade surplus came in above expectations at €21.7bn, as both imports and exports rose strongly. European unemployment data was released at 9.8%, with concern over Italy unemployment rate hitting an 18-month high of 11.9%. Federal Reserve board member, Eric Rosengren, said three rate hikes seem reasonable as the central bank should achieve its unemployment and inflation goals for this year. HIGHLIGHT The Pound has slumped over 1% against the Dollar today, adding to its losses already this year as Brexit rhetoric hots-up. The single market versus…

Source: XE news feed
XE Market Analysis: Pound Slammed After PM Brexit Comments