XE Market Analysis: Sterling tumbles as Brexit cabinet approval is “not enough”

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OVERVIEW

  • The Pound fell by up to 2% against a basket of currencies
  • Three UK Cabinet Ministers resign on the back of Brexit text being published 
  • The Canadian Dollar steadies as oil prices stay firm

HIGHLIGHT

The Pound has slumped by on average around 2% against a basket of currencies after a number of the UK Cabinet members resigned over the approval of the Draft Brexit deal put forward by UK PM Theresa May.