Britain’s Sterling Soft During Tuesday’s Choppy Trading

The Great Britain pound was vulnerable during Tuesday’s choppy trading, dragged down by concerns about the future of Britain after it leaves the European Union. The currency dropped against such rivals as the US dollar, the euro, and the Japanese yen.

Today, trading was a bit slower than usual as traders were waiting for the speech of US President Donald Trump that he is going to deliver during the Wednesday’s Asian trading session. With no clear indication of what he is going to say, market participants were reluctant to add positions.

Despite that, the pound managed to slip against some of its rivals as worries of the impact of Britain’s exit from the EU were weighing on the currency. Adding to the woes of the currency, Scottish nationalists were pushing for the independence referendum. Experts say, though, that the British government is unlikely to allow voting before it deals with the problem of leaving the union.

GBP/USD slid from 1.2441 to 1.2412 as of 17:55 GMT today after touching the daily high of 1.2470. GBP/JPY declined from 140.17 to 138.91, trading near the lowest level since January 17. EUR/GBP advanced from 0.8506 to 0.8542.

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