1) After Brexit (Britain Exit from European Union), GBP becomes too Weaker.
2) New UK Prime Minister “Theresa May” said “Within March 2017, Britain will exit completely from European Union.”
3) The pound suddenly dropped as low as $1.1378 on some trading platforms. But it immediately recovered its losses, Market participants are rushed to buy it back.
4) GBP/USD reaches the 1980’s Price Levels now. It’s 30 years low.
5) Theresa May’s comments on the impact of loose monetary policy, which leads to a thinly veiled attack on the Bank of England.
6) The whole thing’s been on a precipice since Sunday, Since Theresa May (pointed to) March Brexit negotiations, but the selling has been very substantial so we can only think its been part of that general punishment of the pound for Brexit.
Thank you for reading !