The Great Britain pound was soft against some of the majors (though stayed flat versus the US dollar) as Brexit fears were returning to the market.
News that the United Kingdom may start the process of leaving the European Union early caught many market participants off guard, triggering panic selling of the sterling. Now, analysts are talking about the so-called hard Brexit with the UK losing access to the EU single market. The future does not look particularly bright for Great Britain, and the nation’s currency suffers because of that.
GBP/USD traded near its opening level of 1.2964 as of 16:49 GMT today. GBP/JPY dropped from 130.88 to 130.16, trading near the lowest level in more than a month.
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