Sterling pound traded lower by 1.1 percent yesterday after the Bank of England Governor Mark Carney admitted Brexit is now a bigger risk for the continent than it is for the UK. Moreover, markets are discounting the plans of UK PM Theresa May who hinted at sacrificing Europe’s single market access for curbing immigration problem.
Due to all the above factors, GBPINR will trade lower as markets remain cautious ahead of the UK PM speech held later in the day. Investors will scrutinise the speech for cles whether she plans to prioritize immigration controls in a hard brexit that could Britains economy in the longer run.
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