The British Pound tumbled to an 11-month low against the US Dollar on Monday, dented by renewed fears of a hard “Brexit” in March 2019. Sterling cemented its position as the world’s worst performing major currency after UK Trade Minister Liam Fox warned there was a 60-40 likelihood of Britain exiting the European Union next March without a concrete deal in place. The Pound has now lost 2.50% against the greenback over the past one month. The latest bout of weakness comes just days after the Bank of England hiked interest rates for only the second time since the 2008 financial crisis.
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Daily Analysis - 07/08/2018