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Post Pound Pounding
The pound remains center stage, but after yesterday’s early APAC mayhem, predictably the remainder of Monday ‘s trading session was subdued. Moreover, outside of a quick look below 1.2000 at the London open, trader’s were content to peruse the UK print editorials that were full of so-called leaks of what the UK prime minister will be saying in her Brexit speech tonight. Cable upside was capped at 1.2080 overnight as the overriding theme remained that UK PM Theresa May would push for a “hard Brexit”, The Pound is facing an uphill battle. However, PM May’s speech may keep the Equity Bears at bay if she can ... (full story)
