Ahead of Article 50: Pound check no.1

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Time for a pound pulse check.

Sterling has taken a dip below $1.24, with losses widening to 0.5 per cent and the currency fetching $1.2391.

Ahead of the historic triggering later today of Britain’s exit from the EU, the pound is weaker across the board versus major currencies.

About half of the G10 currencies are up by more than 0.4 per cent against the pound. The British currency is worst off against the Australian dollar, which has gained 0.5 per cent, then the greenback. The Japanese yen is 0.4 per cent stronger. The euro is up 0.3 per cent.

The US dollar index, a measure of the greenback against a basket of global peers, was fractionally higher at 99.752.

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