Wed, March 29, 2017
The Pound slumped to its lowest level this versus the Dollar as the U.K. prepares to begin the process by which it will part from the EU and on prospects of a second Scottish independence referendum.
Sterling weakened against the majority of its major peers as PM Theresa May proceeds to trigger Article 50 of the Lisbon Treaty today. This will officially start time on two years of Brexit negotiations. The U.K. currency declined after Scottish lawmakers voted Tuesday to back plans to conduct a second referendum on splitting from the U.K.
The Pound declined 0.3% against the Dollar to 1.2403 as of 8:12 a.m., after touching 1.2377, the lowest since March 21. Sterling weakened 0.1 percent to 86.96 pence per euro.
Data to look out for today.
GBP Theresa May Triggers Article 50 Starting Brexit Process
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| Day | Time | Currency | Event |
|---|---|---|---|
| WED | 06:00 | EUR | EUR German Import Price Index (YoY) | WED | 06:00 | EUR | EUR German Import Price Index (MoM) | WED | 08:30 | GBP | GBP Net Lending Sec. on Dwellings | WED | 08:30 | GBP | GBP M4 Money Supply (MoM) | WED | 08:30 | GBP | GBP M4 Money Supply (YoY) | WED | 08:30 | GBP | GBP Net Consumer Credit | WED | 08:30 | GBP | GBP Mortgage Approvals | WED | 08:30 | GBP | GBP M4 Ex IOFCs 3M Annualised | WED | 11:00 | USD | USD MBA Mortgage Applications | WED | 13:20 | USD | USD Fed's Evans Speaks on Economy and Policy in Frankfurt | WED | 14:00 | USD | USD Pending Home Sales (YoY) | WED | 14:00 | USD | USD Pending Home Sales (MoM) | WED | 14:30 | USD | USD DOE Cushing OK Crude Inventory | WED | 14:30 | USD | USD DOE U.S. Distillate Inventory | WED | 14:30 | USD | USD DOE U.S. Gasoline Inventories | WED | 14:30 | USD | USD DOE U.S. Crude Oil Inventories | WED | 15:30 | USD | USD U.S. to Sell USD13 Bln 2-Year Floating Rate Notes Reopening | WED | 15:30 | USD | USD Fed's Rosengren Speaks at Economic Club of Boston | WED | 16:50 | EUR | EUR ECB's Peter Praet Speaks in Frankfurt | WED | 17:00 | USD | USD U.S. to Sell USD28 Bln 7-Year Notes | WED | 17:15 | USD | USD Fed's Williams Speaks to Forecaster's Club of New York |
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*These are indicative rates only, based on interbank prices at the time of writing. For exact rates please contact our dealing team
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