Sterling goes down, but greenback edges up

On Monday, the British pound hit seven-week minimums after the UK set a March deadline to start its exit from the EU, while the greenback firmed as worries regarding Deutshe Bank receded and traders looked to this week's American jobs data.

Minister Theresa May, British Prime Minister told that she would trigger the process for Great Britain to leave the EU by the end of March.

The British pound sank 0.4%, reaching $1.2941 having hit $1.2902 earlier, the lowest value since August 16.

This morning the British pound’s minimum was hit in very low liquidity, so there's still two years to go before anything occurs, as some financial analysts stress. Investors still have enough time to buy back the currency.

Risk sentiment derived benefits from news that Deutsche Bank was trying to negotiate a much smaller fine with the American Department of Justice. However, no formal settlement has been revealed yet.

The DOJ fined Germany's number one bank up to $14 billion in September for sales of toxic mortgage-backed securities.

Scroll to top