GBP/USD: a spectacular four-cents fall from grace - Scotiabank

Analysts at Scotiabank explained that GBP’s fall from grace has been spectacular – four cents since last week’s peak in the upper-1.43s. 

Key Quotes:

"Most focus has been on the rollback of May BoE rate hike expectations following Gov. Carney’s comments last week but the UK’s Brexit plans have also come under scrutiny again following the Lords’ vote against exiting the EU customs union; Euroskeptics want out of the customs union but may not have enough support in the Commons to secure a win."

"The Irish border issue has also come under scrutiny again. More losses seem likely near-term."