Pound Index Drops Beyond Post-Brexit Low on May’s Speech: Chart

Foley: Brexit a Massive Wave of Uncertainty for Pound

A gauge of the pound against seven major peers fell below post-Brexit levels on Monday after British Prime Minister Theresa May said she’ll begin the U.K.’s process of withdrawal from the European Union in the first quarter of 2017. The Bloomberg British Pound Index dropped 0.9 percent, reaching the weakest level on a closing basis since the data started being compiled in 2004. The gauge is down about 17 percent this year.

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