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Pound Starts Week Sharply Lower

UK coins on banknotesFears of the “hard” Brexit continue to drive the Great Britain pound, which opened Sharply Lower on Monday after the weekend article from The Sunday Times.

The Sunday Times wrote yesterday:

Theresa May will announce that Britain is seeking a clean and hard Brexit in a speech this week that will promise to create a “strong new partnership” with the European Union.

The prime minister will finally lay her cards on the table, making clear that the UK is set to pull out of the single market and the European customs union in order to regain control of immigration and end the jurisdiction of the European Court of Justice.

Traders wait for the speech of The Prime Minister on Tuesday, but they will also pay attention to the speech of Mark Carney, Bank of England Governor, on Monday.

As for economic data, the Rightmove House Price Index had a decent start of the year, rising 0.4% in January.

GBP/USD traded at about 1.2062 as of 13:21 GMT today after closing at 1.2171 on Friday and opening at 1.1998 on Monday. EUR/GBP was near 0.8787 following the close at 0.8692 at the previous trading session and the open of 0.8834 at the current session.


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Post tags: Brexit, EUR/GBP, GBP/USD, Great Britian, House Prices, Pound, Rightmove Plc, Sunday Times

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Pound Starts Week Sharply Lower

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