Pound Ends Friday with Losses

The Great Britain pound ended Friday with losses amid speculations that the United Kingdom may start the process of leaving the European Union in the first half of 2017, ahead of the important elections in Germany and France.
Previously, many market participants were thinking that it would take a long time for Great Britain to start legal procedures for exiting the EU. Yet there were reports that UK Prime Minister Theresa May wants to invoke Article 50 of the Lisbon Treaty in April if not earlier. It looks unlikely for the UK to be able to back off after the process starts, therefore the news dashed hopes that Britons might rethink their decision.
GBP/USD declined from 1.3164 to close at 1.3079, and its daily low was at 1.3022. EUR/GBP went up from 0.8616 to 0.8659, reaching the high of 0.8688 intraday.

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