Euro Weakens on ECB Comments as U.K. Triggers Brexit Process
- Shared currency drops as ECB officials said to be cautious
- Sterling whipsaws after U.K. begins Article 50 negotiations
Brexit Triggered: What Happens Now?
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The euro fell the most in five weeks on a report that European Central Bank officials are wary of changing their dovish message and after the U.K. set in motion the first withdrawal of a country from the European Union.
The shared currency fell against all but one of its major peers after the Brexit process was triggered. It extended losses after a Reuters report that ECB officials said they are cautious about changing their monetary-policy message before June. The Bloomberg Euro Index was down about 0.5 percent, the biggest drop since Feb. 21.