The Pound Makes that Hard Brexit Feeling Feel Harder
The pound dropped to a three-decade low against the dollar amid mounting investor concern that the U.K. is heading for a so-called hard Brexit. Sterling fell beyond its post-vote low and is down against 30 of its 31 major peers since Prime Minister Theresa May’s weekend announcement that Britain would trigger its exit from the European Union in the first quarter of 2017. Declines have extended since May was said to refuse to prioritize the protection of the financial-services industry in negotiations with the EU. Bloomberg's Simon Kennedy reports and RBC Capital Markets Head of Global FX Adam Cole discusses the outlook for sterling with Bloomberg's Francine Lacqua on "The Pulse."