The Pound fell more than 1% against the Dollar following the attacks and gave back almost all of the gains since the FED decision on Wednesday. Economic data also pushed the GBP lower, with both the yearly British CPI and monthly PPI coming in slightly lower than expected. Cable needs to hold the 1.41 support or the pair will be on course to hit a new low below 1.38.
Our assessment: Odds of a successful Brexit soared higher yesterday and that could mean a resumption of the steep decline in the Pound. Cable looks set to break below the crucial 1.41 level in the coming sessions.
