The pound edged south on Monday, following weekend remarks that revived concerns over a disorderly Brexit, and remained pressured after the disappointing manufacturing PMI for August. Overnight, the RBA was not as dovish as some may have expected and thus, the Aussie rebounded.
Pound Tumbles on Brexit Remarks and Disappointing Data
The pound traded lower against all the other G10 currencies on Monday. It lost the most against SEK, AUD and NOK, in that order, while it depreciated the least against CAD.
The British currency opened Monday with a negative gap following remarks by EU chief negotiator Michel Barnier and by UK PM Theresa May. Over the weekend, Barnier noted that he is...
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