GBP/USD: focus has swung back to Brexit risks - Scotiabank

Analysts at Scotiabank explained that Sterling is little changed on the day but essentially an under-performer versus a slightly softer USD overall.

Key Quotes:

"Focus has swung back to Brexit risks following PM May’s appearance on a radio show yesterday where she refused to say how she would vote in a new referendum on Brexit; May campaigned for the Remain camp and the flubbed response might antagonise already difficult relations with ministers who favour a hard Brexit approach.

Chancellor Hammond told law makers that the government had to be prepared for a “bad tempered” exit from the EU."