The Great Britain pound fell today, heading to the worst week in five. Apparently, Brexit fears have returned to the market, driving speculators away from the currency.
Previously, the sterling was supported by surprisingly good economic data. But now, traders are speculating that the actual exit has not yet begun and the economy may yet suffer when the process officially starts. Yesterday’s policy statement from the Bank of England was not encouraging to investors and helpful to the currency either, signaling that additional monetary stimulus may be required by the year end.
GBP/USD dropped from 1.3238 to 1.3172 as of 10:50 GMT today. EUR/GBP rose from 0.8491 to 0.8524.
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