The sterling was attempting to extend yesterday’s rally but was unsuccessful. Fears of Britain leaving the European Union continue to haunt the market, undermining any attempts of Britain’s currency to rally, and the sudden drop of the consumer confidence was not helping the matters. It looks like the pound is going to end the week as the weakest major currency.
GBP/USD traded at about 1.3983 as of 12:33 GMT today after opening at 1.3960 and rising to 1.4042. EUR/GBP traded at 0.7885, close the open of 0.7890, bouncing from the daily low of 0.7842.
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