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Sterling skids on report of possible 'Brexit breakdown'

Published 16/10/2017, 13:59
Updated 16/10/2017, 14:51
© Reuters. An English ten Pound note is seen in an illustration

LONDON (Reuters) - Sterling fell by almost half a cent against the dollar in a minute on Monday, with traders citing a Bloomberg headline that Brexit negotiations could be heading for a breakdown.

The pound fell to the day's lows of $1.3246

"(The move) is squarely on that phrase, 'Brexit breakdown'," said Mizuho's head of hedge fund currency sales, Neil Jones. "The correlation is still there – any suggestion of a harder Brexit is generating significant sterling selling."

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