On currency markets the pound struggled at three-month lows against the dollar after British Prime Minister Theresa May said at the weekend the country would have control over its borders after Brexit, suggesting she would be prepared to quit Europe’s single market to achieve it.
“The Brexit narrative has also contributed to market apprehension and added to souring global risk sentiment,” said Stephen Innes, senior trader at OANDA.
That unease has filtered through to other parts of the currency market, with the yen extending gains against the dollar as analysts say there is a fear the greenback’s rally since Donald Trump’s election may have been overdone.
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